Geode Capital Management LLC Purchases 78,143 Shares of CG Oncology, Inc. (NASDAQ:CGON)

Geode Capital Management LLC grew its stake in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 7.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,156,670 shares of the company's stock after purchasing an additional 78,143 shares during the period. Geode Capital Management LLC owned about 1.52% of CG Oncology worth $33,181,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP grew its position in CG Oncology by 274.4% in the 4th quarter. Wellington Management Group LLP now owns 1,910,470 shares of the company's stock worth $54,792,000 after purchasing an additional 1,400,251 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of CG Oncology by 15.3% in the 4th quarter. Vanguard Group Inc. now owns 5,861,082 shares of the company's stock worth $168,096,000 after buying an additional 779,730 shares during the last quarter. State Street Corp grew its holdings in shares of CG Oncology by 73.0% in the third quarter. State Street Corp now owns 1,700,653 shares of the company's stock valued at $64,166,000 after acquiring an additional 717,722 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of CG Oncology by 61.6% in the fourth quarter. Alliancebernstein L.P. now owns 1,817,887 shares of the company's stock valued at $52,137,000 after acquiring an additional 692,982 shares in the last quarter. Finally, Pictet Asset Management Holding SA purchased a new stake in shares of CG Oncology during the fourth quarter valued at approximately $19,348,000. 26.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CGON has been the subject of a number of recent analyst reports. Scotiabank started coverage on CG Oncology in a research note on Wednesday, April 16th. They issued a "sector perform" rating and a $23.00 price objective for the company. Morgan Stanley restated an "overweight" rating and set a $55.00 price objective on shares of CG Oncology in a report on Friday, March 7th. HC Wainwright reaffirmed a "buy" rating and issued a $75.00 price objective on shares of CG Oncology in a research report on Monday, March 31st. Finally, TD Cowen began coverage on shares of CG Oncology in a research report on Tuesday, January 7th. They set a "buy" rating for the company. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, CG Oncology has a consensus rating of "Buy" and a consensus target price of $59.33.

CG Oncology Stock Up 0.3 %

CGON traded up $0.07 on Tuesday, hitting $20.48. The company's stock had a trading volume of 1,524,823 shares, compared to its average volume of 727,643. The company's 50 day simple moving average is $24.01 and its 200-day simple moving average is $29.54. CG Oncology, Inc. has a 12 month low of $14.80 and a 12 month high of $46.99. The firm has a market cap of $1.56 billion, a P/E ratio of -14.42 and a beta of 1.24.

CG Oncology (NASDAQ:CGON - Get Free Report) last announced its quarterly earnings results on Tuesday, March 25th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.11). CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. The company had revenue of $0.46 million for the quarter, compared to the consensus estimate of $0.11 million. Equities analysts predict that CG Oncology, Inc. will post -1.31 earnings per share for the current fiscal year.

About CG Oncology

CG Oncology, Inc, an oncolytic immunotherapy company, focuses on developing and commercializing backbone bladder-sparing therapeutics for patients with bladder cancer. The company develops BOND-003 for the treatment of high-risk bacillus calmette guerin (BCG)-unresponsive non-muscle invasive bladder cancer (NMIBC) patients; CORE-001 to treat cretostimogene in combination with pembrolizumab in high-risk BCG-unresponsive NMIBC patients; and CORE-002 for the treatment of cretostimogene in combination with the checkpoint inhibitor nivolumab in muscle invasive bladder cancer patients.