Franklin Resources Inc. Buys 45,698 Shares of CG Oncology, Inc. (NASDAQ:CGON)

Franklin Resources Inc. boosted its stake in CG Oncology, Inc. (NASDAQ:CGON) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,275,891 shares of the company’s stock after purchasing an additional 45,698 shares during the quarter. Franklin Resources Inc. owned about 1.68% of CG Oncology worth $36,593,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CGON. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of CG Oncology in the 4th quarter valued at about $68,000. KLP Kapitalforvaltning AS acquired a new stake in CG Oncology in the fourth quarter valued at approximately $100,000. Meeder Asset Management Inc. bought a new stake in shares of CG Oncology during the fourth quarter valued at approximately $189,000. NEOS Investment Management LLC raised its position in shares of CG Oncology by 10.9% during the fourth quarter. NEOS Investment Management LLC now owns 8,329 shares of the company’s stock worth $239,000 after purchasing an additional 817 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of CG Oncology in the 3rd quarter worth $241,000. 26.56% of the stock is owned by institutional investors.

CG Oncology Stock Performance

Shares of CGON stock opened at $17.20 on Friday. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of -12.11 and a beta of 1.24. CG Oncology, Inc. has a 52-week low of $16.64 and a 52-week high of $46.99. The company has a 50-day simple moving average of $26.99 and a two-hundred day simple moving average of $31.30.

CG Oncology (NASDAQ:CGON) 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 business had revenue of $0.46 million during the quarter, compared to the consensus estimate of $0.11 million. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. On average, sell-side analysts forecast that CG Oncology, Inc. will post -1.31 EPS for the current fiscal year.

Analyst Ratings Changes

CGON has been the topic of several research reports. TD Cowen started coverage on shares of CG Oncology in a report on Tuesday, January 7th. They set a “buy” rating on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $75.00 price target on shares of CG Oncology in a research report on Monday, March 31st. Finally, Morgan Stanley reiterated an “overweight” rating and set a $55.00 price target on shares of CG Oncology in a research note on Friday, March 7th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $63.88.

Insider Activity

In related news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $29.66, for a total transaction of $29,660.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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.