Scientech Research LLC Trims Stake in CG Oncology, Inc. (NASDAQ:CGON)

Scientech Research LLC lessened its holdings in shares of CG Oncology, Inc. (NASDAQ:CGON) by 27.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,803 shares of the company’s stock after selling 3,391 shares during the quarter. Scientech Research LLC’s holdings in CG Oncology were worth $278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of CGON. Decheng Capital LLC purchased a new stake in CG Oncology in the first quarter worth about $239,642,000. Vanguard Group Inc. bought a new stake in CG Oncology during the 1st quarter worth approximately $97,678,000. BVF Inc. IL purchased a new position in CG Oncology during the first quarter valued at approximately $82,716,000. Yu Fan bought a new position in shares of CG Oncology in the second quarter worth approximately $49,828,000. Finally, Janus Henderson Group PLC purchased a new stake in shares of CG Oncology in the first quarter worth $66,757,000. Institutional investors own 26.56% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Roth Mkm assumed coverage on shares of CG Oncology in a research note on Tuesday, August 27th. They set a “buy” rating and a $65.00 target price on the stock. Bank of America assumed coverage on CG Oncology in a research note on Friday, June 28th. They set a “buy” rating and a $65.00 target price on the stock. Royal Bank of Canada assumed coverage on shares of CG Oncology in a report on Monday, September 23rd. They set an “outperform” rating and a $66.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $75.00 target price on shares of CG Oncology in a report on Tuesday, September 17th. Finally, Roth Capital upgraded shares of CG Oncology to a “strong-buy” rating in a research report on Tuesday, August 27th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, CG Oncology currently has a consensus rating of “Buy” and a consensus price target of $64.43.

Insider Buying and Selling

In other CG Oncology news, Director Hong Fang Song sold 650,455 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $35.36, for a total transaction of $23,000,088.80. Following the transaction, the director now owns 586,982 shares in the company, valued at $20,755,683.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

CG Oncology Stock Performance

Shares of NASDAQ CGON opened at $37.73 on Tuesday. CG Oncology, Inc. has a 12-month low of $25.77 and a 12-month high of $50.23. The firm’s 50-day moving average price is $35.37 and its 200-day moving average price is $35.27.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.14. The company had revenue of $0.11 million for the quarter. Analysts anticipate that CG Oncology, Inc. will post -1.47 earnings per share for the current fiscal year.

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.