Crestline Management LP Has $2.74 Million Stock Position in CG Oncology, Inc. (NASDAQ:CGON)

Crestline Management LP grew its holdings in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 1,109.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 95,439 shares of the company's stock after buying an additional 87,549 shares during the quarter. Crestline Management LP owned 0.13% of CG Oncology worth $2,737,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of CG Oncology in the fourth quarter valued at $68,000. KLP Kapitalforvaltning AS purchased a new position in shares of CG Oncology in the fourth quarter valued at $100,000. Federated Hermes Inc. purchased a new position in shares of CG Oncology in the fourth quarter valued at $172,000. Meeder Asset Management Inc. purchased a new position in shares of CG Oncology in the fourth quarter valued at $189,000. Finally, NEOS Investment Management LLC boosted its stake in shares of CG Oncology by 10.9% in 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 during the period. 26.56% of the stock is currently owned by hedge funds and other institutional investors.

CG Oncology Trading Down 2.2%

Shares of CGON stock traded down $0.56 on Tuesday, reaching $24.60. The company had a trading volume of 392,841 shares, compared to its average volume of 818,792. The company has a 50-day moving average of $23.54 and a 200-day moving average of $28.39. CG Oncology, Inc. has a 12 month low of $14.80 and a 12 month high of $40.47. The stock has a market cap of $1.88 billion, a PE ratio of -17.32 and a beta of 1.08.

CG Oncology (NASDAQ:CGON - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.45) earnings per share for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.09). CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. Sell-side analysts anticipate that CG Oncology, Inc. will post -1.31 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on CGON. JPMorgan Chase & Co. began coverage on shares of CG Oncology in a research note on Friday, May 2nd. They set an "overweight" rating and a $41.00 price objective on the stock. Royal Bank of Canada increased their target price on shares of CG Oncology from $66.00 to $68.00 and gave the stock an "outperform" rating in a report on Tuesday, April 29th. Cantor Fitzgerald reissued an "overweight" rating and set a $75.00 target price on shares of CG Oncology in a 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 report on Monday, April 28th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $55.00 price objective on shares of CG Oncology in a report on Friday, March 7th. One 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. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $57.70.

Insider Activity

In related news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction 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 legal filing with the SEC, which is available at the SEC website. 7.40% of the stock is currently owned by insiders.

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.