CenterBook Partners LP Has $4.98 Million Position in CG Oncology, Inc. (NASDAQ:CGON)

CenterBook Partners LP cut its holdings in CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 14.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 203,128 shares of the company's stock after selling 32,980 shares during the period. CenterBook Partners LP owned about 0.27% of CG Oncology worth $4,975,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CGON. GF Fund Management CO. LTD. bought a new stake in shares of CG Oncology during the fourth quarter valued at approximately $41,000. CWM LLC increased its position in CG Oncology by 3,957.7% in the 1st quarter. CWM LLC now owns 2,110 shares of the company's stock valued at $52,000 after acquiring an additional 2,058 shares during the period. GAMMA Investing LLC raised its stake in CG Oncology by 1,051.0% during the 1st quarter. GAMMA Investing LLC now owns 2,302 shares of the company's stock valued at $56,000 after acquiring an additional 2,102 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in CG Oncology during the 4th quarter valued at about $100,000. Finally, Federated Hermes Inc. bought a new position in shares of CG Oncology in the fourth quarter valued at approximately $172,000. 26.56% of the stock is currently owned by institutional investors and hedge funds.

CG Oncology Trading Up 4.5%

NASDAQ CGON traded up $1.13 during trading on Wednesday, reaching $26.08. 628,134 shares of the company's stock were exchanged, compared to its average volume of 861,336. CG Oncology, Inc. has a fifty-two week low of $14.80 and a fifty-two week high of $40.47. The company's fifty day simple moving average is $25.96 and its 200-day simple moving average is $26.06. The firm has a market capitalization of $1.99 billion, a PE ratio of -17.27 and a beta of 0.86.

CG Oncology (NASDAQ:CGON - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.09). The company had revenue of $0.05 million for the quarter, compared to analyst estimates of $0.53 million. CG Oncology had a negative return on equity of 16.71% and a negative net margin of 15,945.17%. Equities analysts forecast that CG Oncology, Inc. will post -1.31 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on CGON. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $75.00 target price on shares of CG Oncology in a research note on Monday, April 28th. Royal Bank Of Canada decreased their price target on shares of CG Oncology from $68.00 to $53.00 and set an "outperform" rating on the stock in a research report on Wednesday. The Goldman Sachs Group raised CG Oncology to a "strong-buy" rating and set a $40.00 price target on the stock in a report on Thursday, July 10th. Wall Street Zen raised CG Oncology from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $75.00 target price on shares of CG Oncology in a research report on Monday, April 28th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $55.30.

Insider Activity

In other news, Director Leonard E. Post sold 1,000 shares of the business's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $30.76, for a total value of $30,760.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 7.40% of the company's stock.

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.