Arizona State Retirement System Purchases Shares of 11,853 CG Oncology, Inc. (NASDAQ:CGON)

Arizona State Retirement System acquired a new position in CG Oncology, Inc. (NASDAQ:CGON) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 11,853 shares of the company’s stock, valued at approximately $340,000.

Other large investors have also recently made changes to their positions in the company. Amalgamated Bank increased its holdings in CG Oncology by 107.6% in the 3rd quarter. Amalgamated Bank now owns 1,621 shares of the company’s stock worth $61,000 after acquiring an additional 840 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of CG Oncology in the third quarter worth $832,000. Massachusetts Financial Services Co. MA raised its position in shares of CG Oncology by 4.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 279,945 shares of the company’s stock valued at $10,562,000 after purchasing an additional 13,158 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of CG Oncology by 114.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 379,664 shares of the company’s stock valued at $14,325,000 after buying an additional 202,262 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in CG Oncology by 21.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 73,149 shares of the company’s stock worth $2,760,000 after buying an additional 12,848 shares during the period. 26.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CGON. HC Wainwright reaffirmed a “buy” rating and issued a $75.00 price objective on shares of CG Oncology in a research note on Friday, January 10th. TD Cowen began coverage on CG Oncology in a research note on Tuesday, January 7th. They issued a “buy” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $66.00 price objective on shares of CG Oncology in a report on Friday, December 6th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $55.00 target price on shares of CG Oncology in a report 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 company currently has an average rating of “Buy” and an average price target of $63.88.

Insiders Place Their Bets

In other news, Director Hong Fang Song sold 700,000 shares of the firm’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 completion of the sale, the director now directly owns 3,003,931 shares of the company’s stock, valued at $84,110,068. This trade represents a 18.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $29.66, for a total value of $29,660.00. The disclosure for this sale can be found here.

CG Oncology Stock Performance

Shares of CGON opened at $27.80 on Friday. The company’s fifty day moving average is $28.36 and its 200 day moving average is $32.49. CG Oncology, Inc. has a fifty-two week low of $23.91 and a fifty-two week high of $46.99.

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.