Meeder Asset Management Inc. Makes New $189,000 Investment in CG Oncology, Inc. (NASDAQ:CGON)

Meeder Asset Management Inc. acquired a new stake in shares of CG Oncology, Inc. (NASDAQ:CGON) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,578 shares of the company’s stock, valued at approximately $189,000.

A number of other institutional investors have also made changes to their positions in CGON. Vanguard Group Inc. boosted its position in CG Oncology by 15.3% during the fourth quarter. Vanguard Group Inc. now owns 5,861,082 shares of the company’s stock worth $168,096,000 after purchasing an additional 779,730 shares during the period. Wellington Management Group LLP boosted its holdings in shares of CG Oncology by 274.4% during the 4th quarter. Wellington Management Group LLP now owns 1,910,470 shares of the company’s stock worth $54,792,000 after buying an additional 1,400,251 shares during the period. State Street Corp grew its stake in CG Oncology by 73.0% in the 3rd quarter. State Street Corp now owns 1,700,653 shares of the company’s stock valued at $64,166,000 after buying an additional 717,722 shares during the last quarter. Janus Henderson Group PLC raised its holdings in CG Oncology by 7.0% in the 3rd quarter. Janus Henderson Group PLC now owns 1,526,534 shares of the company’s stock worth $57,596,000 after acquiring an additional 99,517 shares during the period. Finally, Franklin Resources Inc. lifted its position in CG Oncology by 8.9% during the 3rd quarter. Franklin Resources Inc. now owns 1,230,193 shares of the company’s stock worth $46,157,000 after acquiring an additional 100,106 shares during the last quarter. 26.56% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Leonard E. Post sold 1,000 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $29.66, for a total value of $29,660.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

CG Oncology Price Performance

CGON opened at $24.49 on Tuesday. The company has a market capitalization of $1.86 billion, a P/E ratio of -17.25 and a beta of 1.60. The firm’s fifty day moving average price is $27.82 and its two-hundred day moving average price is $31.72. CG Oncology, Inc. has a fifty-two week low of $23.91 and a fifty-two week high of $46.99.

CG Oncology (NASDAQ:CGON) last issued its 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 business had revenue of $0.46 million for the quarter, compared to analyst estimates of $0.11 million. On average, equities research analysts expect that CG Oncology, Inc. will post -1.31 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. TD Cowen started 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 issued a $66.00 target price on shares of CG Oncology in a 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 research report on Monday. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $55.00 target price on shares of CG Oncology in a research report on Friday, March 7th. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $63.88.

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.