Adage Capital Partners GP L.L.C. Lowers Holdings in CG Oncology, Inc. (NASDAQ:CGON)

Adage Capital Partners GP L.L.C. trimmed its stake in CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 50.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,000 shares of the company's stock after selling 200,000 shares during the period. Adage Capital Partners GP L.L.C. owned 0.26% of CG Oncology worth $5,736,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its position in CG Oncology by 59.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 945,194 shares of the company's stock worth $27,109,000 after buying an additional 353,787 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in CG Oncology by 2,636.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,865 shares of the company's stock worth $254,000 after acquiring an additional 8,541 shares in the last quarter. MetLife Investment Management LLC increased its holdings in CG Oncology by 7.0% in the 4th quarter. MetLife Investment Management LLC now owns 29,026 shares of the company's stock worth $832,000 after acquiring an additional 1,894 shares in the last quarter. Marshall Wace LLP raised its stake in CG Oncology by 18,836.0% during the 4th quarter. Marshall Wace LLP now owns 1,458,072 shares of the company's stock worth $41,818,000 after acquiring an additional 1,450,372 shares during the period. Finally, Affinity Asset Advisors LLC purchased a new position in CG Oncology during the fourth quarter valued at approximately $2,868,000. 26.56% of the stock is owned by institutional investors.

CG Oncology Price Performance

Shares of NASDAQ:CGON traded up $1.31 during trading on Friday, hitting $29.05. The company had a trading volume of 1,160,711 shares, compared to its average volume of 781,739. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of -20.46 and a beta of 1.24. The company has a fifty day simple moving average of $23.68 and a two-hundred day simple moving average of $28.90. CG Oncology, Inc. has a one year low of $14.80 and a one year high of $40.47.

CG Oncology (NASDAQ:CGON - Get Free Report) last posted its quarterly earnings data on Tuesday, March 25th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.11). The firm 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%. On average, equities research analysts anticipate that CG Oncology, Inc. will post -1.31 earnings per share for the current year.

Insider Buying and Selling

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 stock was sold at an average price of $30.76, for a total transaction of $30,760.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Royal Bank of Canada increased their price objective on shares of CG Oncology from $66.00 to $68.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th. Cantor Fitzgerald restated an "overweight" rating and issued a $75.00 price objective on shares of CG Oncology in a research report on Monday, April 28th. HC Wainwright reissued a "buy" rating and set a $75.00 target price on shares of CG Oncology in a research note on Monday, April 28th. Morgan Stanley reiterated an "overweight" rating and set a $55.00 price objective on shares of CG Oncology in a research report on Friday, March 7th. Finally, TD Cowen started coverage on shares of CG Oncology in a research report on Tuesday, January 7th. They set a "buy" rating for the company. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $57.70.

About CG Oncology

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.