CG Oncology, Inc. (NASDAQ:CGON) Shares Purchased by M&T Bank Corp

M&T Bank Corp boosted its holdings in shares of CG Oncology, Inc. (NASDAQ:CGON) by 55.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,758 shares of the company’s stock after buying an additional 5,996 shares during the period. M&T Bank Corp’s holdings in CG Oncology were worth $632,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ally Bridge Group NY LLC increased its position in shares of CG Oncology by 50.5% in the 3rd quarter. Ally Bridge Group NY LLC now owns 263,266 shares of the company’s stock valued at $9,933,000 after acquiring an additional 88,390 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of CG Oncology by 114.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 379,664 shares of the company’s stock valued at $14,325,000 after purchasing an additional 202,262 shares during the period. BNP Paribas Financial Markets raised its stake in shares of CG Oncology by 876.9% in the third quarter. BNP Paribas Financial Markets now owns 26,660 shares of the company’s stock worth $1,006,000 after purchasing an additional 23,931 shares during the last quarter. Deerfield Management Company L.P. Series C lifted its holdings in shares of CG Oncology by 811.9% during the second quarter. Deerfield Management Company L.P. Series C now owns 433,540 shares of the company’s stock worth $13,687,000 after purchasing an additional 386,000 shares during the period. Finally, Ensign Peak Advisors Inc purchased a new stake in CG Oncology in the second quarter valued at approximately $1,912,000. 26.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $34.54, for a total value of $34,540.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Hong Fang Song sold 700,000 shares of the business’s stock in a transaction that occurred on 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 sale, the director now owns 3,003,931 shares of the company’s stock, valued at $84,110,068. The trade was a 18.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

CG Oncology Stock Performance

Shares of CG Oncology stock opened at $29.27 on Wednesday. CG Oncology, Inc. has a twelve month low of $25.77 and a twelve month high of $50.23. The business has a 50-day moving average price of $35.10 and a 200 day moving average price of $34.88.

CG Oncology (NASDAQ:CGON) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $0.30 million. As a group, equities analysts expect that CG Oncology, Inc. will post -1.32 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the stock. HC Wainwright restated a “buy” rating and set a $75.00 price objective on shares of CG Oncology in a research note on Friday, December 6th. Roth Mkm began coverage on shares of CG Oncology in a research report on Tuesday, August 27th. They set a “buy” rating and a $65.00 target price for the company. Roth Capital raised CG Oncology to a “strong-buy” rating in a research report on Tuesday, August 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $66.00 price objective on shares of CG Oncology in a research note on Friday, December 6th. Finally, Bank of America restated a “buy” rating and issued a $65.00 target price on shares of CG Oncology in a research note on Tuesday, October 8th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target 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.