CG Oncology, Inc. (NASDAQ:CGON) Shares Bought by Braidwell LP

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

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

Insiders Place Their Bets

In related 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 value of $30,760.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

CG Oncology Price Performance

NASDAQ:CGON opened at $28.18 on Tuesday. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of -19.85 and a beta of 1.08. The firm's fifty day moving average price is $23.74 and its 200 day moving average price is $28.85. CG Oncology, Inc. has a 1-year low of $14.80 and a 1-year high of $40.47.

CG Oncology (NASDAQ:CGON - Get Free Report) last issued its earnings results 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 analysts' expectations of $0.11 million. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. As a group, analysts expect that CG Oncology, Inc. will post -1.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CGON shares. TD Cowen assumed coverage on shares of CG Oncology in a research report on Tuesday, January 7th. They set a "buy" rating for the company. JPMorgan Chase & Co. began coverage on CG Oncology in a report on Friday. They set an "overweight" rating and a $41.00 price target for the company. 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. HC Wainwright restated a "buy" rating and set a $75.00 target price on shares of CG Oncology in a research note on Monday, April 28th. Finally, Royal Bank of Canada increased their price target on shares of CG Oncology from $66.00 to $68.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. 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 company's stock. According to data from MarketBeat, the stock currently 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.

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