China Universal Asset Management Co. Ltd. Makes New Investment in CG Oncology, Inc. (NASDAQ:CGON)

China Universal Asset Management Co. Ltd. acquired a new stake in CG Oncology, Inc. (NASDAQ:CGON) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 14,340 shares of the company’s stock, valued at approximately $411,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Amalgamated Bank lifted its holdings in CG Oncology by 107.6% during the 3rd quarter. Amalgamated Bank now owns 1,621 shares of the company’s stock valued at $61,000 after purchasing an additional 840 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of CG Oncology during the 3rd quarter worth about $241,000. HighVista Strategies LLC bought a new stake in shares of CG Oncology during the 3rd quarter worth about $594,000. M&T Bank Corp grew its stake in CG Oncology by 55.7% in the 3rd quarter. M&T Bank Corp now owns 16,758 shares of the company’s stock valued at $632,000 after buying an additional 5,996 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in CG Oncology in the 3rd quarter valued at about $664,000. 26.56% of the stock is currently owned by institutional investors.

Insider Activity at CG Oncology

In related news, Director Leonard E. Post sold 1,000 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $29.66, for a total transaction of $29,660.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Hong Fang Song sold 700,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $28.00, for a total value of $19,600,000.00. Following the completion of the transaction, the director now directly owns 3,003,931 shares of the company’s stock, valued at approximately $84,110,068. The trade was a 18.90 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 702,000 shares of company stock valued at $19,664,200.

CG Oncology Stock Performance

NASDAQ CGON opened at $30.07 on Monday. CG Oncology, Inc. has a fifty-two week low of $25.77 and a fifty-two week high of $50.23. The business has a fifty day moving average price of $30.66 and a two-hundred day moving average price of $33.90.

CG Oncology (NASDAQ:CGON) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.06. CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. The business had revenue of $0.04 million for the quarter, compared to analyst estimates of $0.30 million. As a group, research analysts predict that CG Oncology, Inc. will post -1.31 EPS for the current fiscal year.

Analysts Set New Price Targets

CGON has been the topic of several research reports. TD Cowen assumed coverage on CG Oncology in a research report on Tuesday, January 7th. They issued a “buy” rating on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $66.00 price target on shares of CG Oncology in a research report on Friday, December 6th. HC Wainwright reissued a “buy” rating and issued a $75.00 price objective on shares of CG Oncology in a report on Friday, January 10th. Bank of America reaffirmed a “buy” rating and set a $65.00 target price on shares of CG Oncology in a report on Tuesday, October 8th. Finally, UBS Group assumed coverage on CG Oncology in a research note on Thursday, October 24th. They issued a “buy” rating and a $60.00 price target for the company. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $63.88.

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.