Virtus Investment Advisers LLC Sells 2,138 Shares of CG Oncology, Inc. $CGON

Virtus Investment Advisers LLC lowered its position in shares of CG Oncology, Inc. (NASDAQ:CGON) by 37.6% during the second quarter, HoldingsChannel reports. The fund owned 3,548 shares of the company’s stock after selling 2,138 shares during the quarter. Virtus Investment Advisers LLC’s holdings in CG Oncology were worth $92,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of CG Oncology by 15.6% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,945 shares of the company’s stock valued at $77,000 after purchasing an additional 398 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in CG Oncology by 15.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,279 shares of the company’s stock valued at $85,000 after buying an additional 433 shares during the last quarter. Invesco Ltd. boosted its position in CG Oncology by 2.5% during the 1st quarter. Invesco Ltd. now owns 27,754 shares of the company’s stock worth $680,000 after buying an additional 685 shares during the period. Police & Firemen s Retirement System of New Jersey grew its holdings in CG Oncology by 10.6% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 12,879 shares of the company’s stock worth $335,000 after acquiring an additional 1,232 shares during the last quarter. Finally, Winthrop Capital Management LLC acquired a new position in CG Oncology in the 2nd quarter valued at approximately $38,000. 26.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CGON. Zacks Research raised CG Oncology from a “strong sell” rating to a “hold” rating in a research note on Monday, September 1st. Morgan Stanley raised their price objective on shares of CG Oncology from $56.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, September 17th. Truist Financial set a $62.00 target price on shares of CG Oncology in a research report on Monday, November 24th. Royal Bank Of Canada raised their price target on shares of CG Oncology from $53.00 to $61.00 and gave the company an “outperform” rating in a research report on Monday, November 17th. Finally, HC Wainwright reissued a “buy” rating and set a $75.00 price objective on shares of CG Oncology in a report on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.73.

CG Oncology Stock Performance

CG Oncology stock opened at $44.81 on Monday. CG Oncology, Inc. has a fifty-two week low of $14.80 and a fifty-two week high of $45.94. The firm’s 50-day simple moving average is $41.18 and its 200 day simple moving average is $32.18. The stock has a market cap of $3.61 billion, a PE ratio of -21.96 and a beta of 1.32.

CG Oncology (NASDAQ:CGON) last posted its earnings results on Friday, November 14th. The company reported ($0.57) EPS for the quarter, hitting the consensus estimate of ($0.57). CG Oncology had a negative net margin of 15,945.17% and a negative return on equity of 21.67%. The firm had revenue of $0.16 million for the quarter, compared to analysts’ expectations of $0.07 million. As a group, analysts predict that CG Oncology, Inc. will post -1.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other CG Oncology news, Director Brian Guan-Chyun Liu acquired 1,515,151 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were acquired at an average price of $33.00 per share, with a total value of $49,999,983.00. Following the completion of the transaction, the director owned 1,515,151 shares in the company, valued at approximately $49,999,983. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Leonard E. Post sold 1,000 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $41.43, for a total value of $41,430.00. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 175,359 shares of company stock valued at $5,553,214. 7.40% of the stock is owned by insiders.

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.