Janus Henderson Group PLC Cuts Stock Position in CG Oncology, Inc. (NASDAQ:CGON)

Janus Henderson Group PLC lessened its stake in shares of CG Oncology, Inc. (NASDAQ:CGON) by 2.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,485,843 shares of the company’s stock after selling 40,691 shares during the period. Janus Henderson Group PLC’s holdings in CG Oncology were worth $42,618,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CGON. NEOS Investment Management LLC grew its stake in shares of CG Oncology by 10.9% in the fourth quarter. NEOS Investment Management LLC now owns 8,329 shares of the company’s stock worth $239,000 after acquiring an additional 817 shares during the last quarter. Rhumbline Advisers boosted its stake in CG Oncology by 2.2% in the 4th quarter. Rhumbline Advisers now owns 69,016 shares of the company’s stock worth $1,979,000 after purchasing an additional 1,458 shares in the last quarter. MetLife Investment Management LLC grew its position in CG Oncology by 7.0% during the 4th quarter. MetLife Investment Management LLC now owns 29,026 shares of the company’s stock valued at $832,000 after purchasing an additional 1,894 shares during the last quarter. New York State Common Retirement Fund increased its stake in CG Oncology by 16.7% during the 4th quarter. New York State Common Retirement Fund now owns 13,996 shares of the company’s stock valued at $401,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in CG Oncology during the 4th quarter valued at about $68,000. Hedge funds and other institutional investors own 26.56% of the company’s stock.

CG Oncology Price Performance

Shares of CGON stock opened at $24.18 on Wednesday. CG Oncology, Inc. has a 1 year low of $14.80 and a 1 year high of $40.47. The firm has a fifty day moving average price of $23.48 and a 200-day moving average price of $28.36. The company has a market cap of $1.84 billion, a price-to-earnings ratio of -17.03 and a beta of 1.08.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.09). CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. Equities research analysts expect that CG Oncology, Inc. will post -1.31 EPS for the current year.

Insider Buying and Selling

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $30.76, for a total transaction of $30,760.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. 7.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CGON. Royal Bank of Canada raised their price target on shares of CG Oncology from $66.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, April 29th. Morgan Stanley reiterated an “overweight” rating and set a $55.00 target price on shares of CG Oncology in a research note on Friday, March 7th. HC Wainwright restated a “buy” rating and issued a $75.00 price target on shares of CG Oncology in a research note on Monday, April 28th. Scotiabank assumed coverage on CG Oncology in a research report on Wednesday, April 16th. They set a “sector perform” rating and a $23.00 price objective on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $75.00 price objective on shares of CG Oncology in a report on Monday, April 28th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, CG Oncology presently has a consensus rating of “Buy” and an average price target of $58.56.

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.