Braidwell LP Grows Holdings in CG Oncology, Inc. (NASDAQ:CGON)

Braidwell LP lifted its position in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 3.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,283,317 shares of the company's stock after purchasing an additional 112,442 shares during the period. CG Oncology comprises approximately 2.8% of Braidwell LP's portfolio, making the stock its 12th largest position. Braidwell LP owned approximately 4.32% of CG Oncology worth $94,166,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in CG Oncology in the 4th quarter valued at about $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. acquired a new position in shares of CG Oncology during the fourth quarter valued at $172,000. Meeder Asset Management Inc. acquired a new stake in CG Oncology in the fourth quarter worth about $189,000. Finally, NEOS Investment Management LLC lifted its holdings in CG Oncology by 10.9% in the 4th quarter. NEOS Investment Management LLC now owns 8,329 shares of the company's stock valued at $239,000 after acquiring an additional 817 shares during the last quarter. 26.56% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at CG Oncology

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the company's stock in a transaction 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 can be accessed through the SEC website. 7.40% of the stock is owned by company insiders.

CG Oncology Stock Performance

Shares of CGON traded down $0.39 during mid-day trading on Friday, reaching $23.74. The stock had a trading volume of 1,941,794 shares, compared to its average volume of 818,964. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of -16.72 and a beta of 1.08. The business has a fifty day moving average of $23.57 and a 200 day moving average of $28.52. CG Oncology, Inc. has a 12 month low of $14.80 and a 12 month 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 for the quarter, missing the consensus estimate of ($0.37) by ($0.11). The firm had revenue of $0.46 million during the quarter, compared to the consensus estimate of $0.11 million. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. On average, research analysts forecast that CG Oncology, Inc. will post -1.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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