Monashee Investment Management LLC Acquires Shares of 36,872 CG Oncology, Inc. (NASDAQ:CGON)

Monashee Investment Management LLC acquired a new position in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 36,872 shares of the company's stock, valued at approximately $1,057,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of CGON. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of CG Oncology during the fourth quarter valued at $68,000. KLP Kapitalforvaltning AS acquired a new position in CG Oncology in the fourth quarter valued at approximately $100,000. Federated Hermes Inc. bought a new stake in shares of CG Oncology in the 4th quarter valued at $172,000. Meeder Asset Management Inc. bought a new stake in shares of CG Oncology in the fourth quarter valued at about $189,000. Finally, NEOS Investment Management LLC raised its stake in shares of CG Oncology by 10.9% during the 4th quarter. NEOS Investment Management LLC now owns 8,329 shares of the company's stock worth $239,000 after purchasing an additional 817 shares in the last quarter. Institutional investors own 26.56% of the company's stock.

Insider Activity

In other news, Director Leonard E. Post sold 1,000 shares of the company's stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $30.76, for a total value of $30,760.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

CG Oncology Stock Down 2.7 %

Shares of CG Oncology stock traded down $0.77 during trading on Monday, hitting $28.28. 353,928 shares of the company were exchanged, compared to its average volume of 780,079. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of -19.86 and a beta of 1.08. The firm has a 50 day moving average price of $23.68 and a 200 day moving average price of $28.90. CG Oncology, Inc. has a fifty-two week low of $14.80 and a fifty-two week high of $40.47.

CG Oncology (NASDAQ:CGON - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $0.11 million. CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. Analysts predict that CG Oncology, Inc. will post -1.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Scotiabank initiated coverage on shares of CG Oncology in a research report on Wednesday, April 16th. They issued a "sector perform" rating and a $23.00 target price for the company. HC Wainwright reaffirmed a "buy" rating and issued a $75.00 price objective on shares of CG Oncology in a research report on Monday, April 28th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $75.00 target price on shares of CG Oncology in a research note on Monday, April 28th. Morgan Stanley reissued an "overweight" rating and issued a $55.00 target price on shares of CG Oncology in a research note on Friday, March 7th. Finally, Royal Bank of Canada raised their price objective on CG Oncology from $66.00 to $68.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, CG Oncology presently has an average rating of "Buy" and an average target price of $57.70.

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.