Price T Rowe Associates Inc. MD Acquires 353,787 Shares of CG Oncology, Inc. (NASDAQ:CGON)

Price T Rowe Associates Inc. MD raised its position in CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 59.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 945,194 shares of the company's stock after buying an additional 353,787 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 1.24% of CG Oncology worth $27,109,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in CG Oncology during the fourth quarter worth about $68,000. KLP Kapitalforvaltning AS purchased a new position in CG Oncology during the fourth quarter worth about $100,000. Federated Hermes Inc. purchased a new position in CG Oncology during the fourth quarter worth approximately $172,000. Meeder Asset Management Inc. purchased a new stake in CG Oncology during the fourth quarter valued at about $189,000. Finally, NEOS Investment Management LLC lifted its position in CG Oncology by 10.9% during the fourth quarter. NEOS Investment Management LLC now owns 8,329 shares of the company's stock valued at $239,000 after buying an additional 817 shares in the last quarter. 26.56% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the company's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $30.76, for a total transaction of $30,760.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

CG Oncology Price Performance

CGON traded down $0.53 during trading on Tuesday, reaching $27.66. The company had a trading volume of 121,498 shares, compared to its average volume of 779,884. The company has a market cap of $2.11 billion, a P/E ratio of -19.52 and a beta of 1.08. CG Oncology, Inc. has a 12 month low of $14.80 and a 12 month high of $40.47. The business's fifty day moving average price is $23.74 and its 200 day moving average price is $28.85.

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Scotiabank began coverage on CG Oncology in a research note on Wednesday, April 16th. They issued a "sector perform" rating and a $23.00 price target on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $75.00 price target on shares of CG Oncology in a research report on Monday, April 28th. TD Cowen initiated coverage on CG Oncology in a research note on Tuesday, January 7th. They issued a "buy" rating for the company. JPMorgan Chase & Co. assumed coverage on CG Oncology in a research note on Friday. They set an "overweight" rating and a $41.00 price target for the company. Finally, Royal Bank of Canada lifted their price target on shares of CG Oncology from $66.00 to $68.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $57.70.

CG Oncology Company Profile

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.