Massachusetts Financial Services Co. MA Grows Position in CG Oncology, Inc. (NASDAQ:CGON)

Massachusetts Financial Services Co. MA increased its position in shares of CG Oncology, Inc. (NASDAQ:CGON) by 4.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 279,945 shares of the company’s stock after buying an additional 13,158 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in CG Oncology were worth $10,562,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Amalgamated Bank grew its stake in CG Oncology by 107.6% during the 3rd quarter. Amalgamated Bank now owns 1,621 shares of the company’s stock worth $61,000 after buying an additional 840 shares during the last quarter. California State Teachers Retirement System purchased a new position in shares of CG Oncology in the 1st quarter valued at approximately $103,000. Profund Advisors LLC purchased a new position in shares of CG Oncology in the 2nd quarter valued at approximately $300,000. SG Americas Securities LLC purchased a new position in shares of CG Oncology in the 3rd quarter valued at approximately $664,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of CG Oncology in the 3rd quarter valued at approximately $832,000. Hedge funds and other institutional investors own 26.56% of the company’s stock.

Insider Transactions at CG Oncology

In other news, Director Hong Fang Song sold 650,455 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $35.36, for a total value of $23,000,088.80. Following the completion of the transaction, the director now directly owns 586,982 shares of the company’s stock, valued at $20,755,683.52. The trade was a 52.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CGON. UBS Group began coverage on CG Oncology in a research note on Thursday, October 24th. They issued a “buy” rating and a $60.00 target price on the stock. Roth Capital upgraded CG Oncology to a “strong-buy” rating in a research note on Tuesday, August 27th. Royal Bank of Canada began coverage on CG Oncology in a research note on Monday, September 23rd. They issued an “outperform” rating and a $66.00 target price on the stock. Bank of America reissued a “buy” rating and issued a $65.00 price target on shares of CG Oncology in a report on Tuesday, October 8th. Finally, Roth Mkm began coverage on CG Oncology in a report on Tuesday, August 27th. They issued a “buy” rating and a $65.00 price target for the company. Eight research 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.com, the stock presently has an average rating of “Buy” and a consensus target price of $63.88.

CG Oncology Stock Down 0.1 %

Shares of CGON stock opened at $33.90 on Wednesday. The stock has a fifty day moving average price of $36.32 and a 200 day moving average price of $34.59. CG Oncology, Inc. has a 1 year low of $25.77 and a 1 year high of $50.23.

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

CG Oncology 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.