Decheng Capital LLC Grows Stake in CG Oncology, Inc. (NASDAQ:CGON)

Decheng Capital LLC boosted its holdings in CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 16.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,371,669 shares of the company's stock after purchasing an additional 892,859 shares during the quarter. CG Oncology makes up 39.2% of Decheng Capital LLC's portfolio, making the stock its biggest holding. Decheng Capital LLC owned approximately 8.38% of CG Oncology worth $182,739,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in CG Oncology in the fourth quarter valued at about $68,000. KLP Kapitalforvaltning AS bought a new stake in shares of CG Oncology during the fourth quarter valued at about $100,000. Federated Hermes Inc. acquired a new stake in CG Oncology in the fourth quarter worth about $172,000. Meeder Asset Management Inc. acquired a new stake in CG Oncology in the 4th quarter valued at 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 currently owned by institutional investors and hedge funds.

Insider Activity

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction on Monday, April 28th. The shares were sold at an average price of $30.76, for a total transaction of $30,760.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Wall Street Analyst Weigh In

Several analysts have issued reports on CGON shares. TD Cowen assumed coverage on CG Oncology in a report on Tuesday, January 7th. They set a "buy" rating on the stock. Royal Bank of Canada boosted their price objective on shares of CG Oncology from $66.00 to $68.00 and gave the stock an "outperform" rating in a report on Tuesday. HC Wainwright reissued a "buy" rating and issued a $75.00 target price on shares of CG Oncology in a research note on Monday. Cantor Fitzgerald restated an "overweight" rating and issued a $75.00 price target on shares of CG Oncology in a research report on Monday. Finally, Morgan Stanley reissued an "overweight" rating and set a $55.00 price target on shares of CG Oncology in a research note on Friday, March 7th. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $59.56.

CG Oncology Stock Up 1.6 %

CG Oncology stock traded up $0.44 during midday trading on Thursday, reaching $27.38. The stock had a trading volume of 387,289 shares, compared to its average volume of 968,496. The firm's 50-day moving average price is $23.58 and its 200 day moving average price is $29.14. CG Oncology, Inc. has a 12 month low of $14.80 and a 12 month high of $46.99. The firm has a market capitalization of $2.09 billion, a PE ratio of -19.28 and a beta of 1.24.

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). The business 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%. Equities research analysts expect that CG Oncology, Inc. will post -1.31 EPS for the current year.

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.