Ally Bridge Group NY LLC Decreases Stock Position in CG Oncology, Inc. (NASDAQ:CGON)

Ally Bridge Group NY LLC lessened its position in CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 33.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 174,048 shares of the company's stock after selling 89,218 shares during the quarter. CG Oncology makes up about 4.2% of Ally Bridge Group NY LLC's holdings, making the stock its 6th biggest holding. Ally Bridge Group NY LLC owned 0.23% of CG Oncology worth $4,992,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. 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 shares of CG Oncology in the 4th quarter valued at about $100,000. Federated Hermes Inc. purchased a new stake in shares of CG Oncology in the fourth quarter worth approximately $172,000. Meeder Asset Management Inc. acquired a new stake in shares of CG Oncology during the fourth quarter worth approximately $189,000. Finally, NEOS Investment Management LLC grew its position in CG Oncology by 10.9% during the fourth quarter. NEOS Investment Management LLC now owns 8,329 shares of the company's stock valued at $239,000 after purchasing an additional 817 shares in the last quarter. 26.56% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on CGON shares. Scotiabank began coverage on shares of CG Oncology in a report on Wednesday, April 16th. They set a "sector perform" rating and a $23.00 price target on the stock. HC Wainwright reiterated a "buy" rating and set a $75.00 price target on shares of CG Oncology in a report on Monday, April 28th. TD Cowen assumed coverage on CG Oncology in a report on Tuesday, January 7th. They issued a "buy" rating on the stock. Cantor Fitzgerald reissued an "overweight" rating and issued a $75.00 target price on shares of CG Oncology in a research report on Monday, April 28th. Finally, 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 report on Tuesday, April 29th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, CG Oncology currently has an average rating of "Buy" and a consensus target price of $57.70.

CG Oncology Stock Up 3.3 %

NASDAQ CGON traded up $0.73 during trading on Wednesday, hitting $22.43. The company's stock had a trading volume of 1,790,599 shares, compared to its average volume of 798,217. CG Oncology, Inc. has a 52 week low of $14.80 and a 52 week high of $40.47. The firm has a market cap of $1.71 billion, a P/E ratio of -15.96 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 $28.80.

CG Oncology (NASDAQ:CGON - Get Free Report) last posted its quarterly earnings results 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). CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. The company had revenue of $0.46 million during the quarter, compared to analyst estimates of $0.11 million. On average, equities analysts expect that CG Oncology, Inc. will post -1.31 earnings per share for the current year.

Insider Activity at CG Oncology

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 stock was sold at an average price of $30.76, for a total transaction of $30,760.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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.