249,001 Shares in CG Oncology, Inc. (NASDAQ:CGON) Acquired by Millennium Management LLC

Millennium Management LLC purchased a new position in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 249,001 shares of the company's stock, valued at approximately $7,141,000. Millennium Management LLC owned approximately 0.33% of CG Oncology as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently added to or reduced their stakes in the stock. Decheng Capital LLC raised its position in CG Oncology by 16.3% during the fourth quarter. Decheng Capital LLC now owns 6,371,669 shares of the company's stock worth $182,739,000 after acquiring an additional 892,859 shares during the period. Vanguard Group Inc. raised its position in shares of CG Oncology by 15.3% in the fourth quarter. Vanguard Group Inc. now owns 5,861,082 shares of the company's stock valued at $168,096,000 after buying an additional 779,730 shares during the last quarter. Braidwell LP raised its position in shares of CG Oncology by 3.5% in the fourth quarter. Braidwell LP now owns 3,283,317 shares of the company's stock valued at $94,166,000 after buying an additional 112,442 shares during the last quarter. Foresite Capital Management VI LLC acquired a new stake in shares of CG Oncology in the fourth quarter valued at about $63,712,000. Finally, Wellington Management Group LLP raised its position in shares of CG Oncology by 274.4% in the fourth quarter. Wellington Management Group LLP now owns 1,910,470 shares of the company's stock valued at $54,792,000 after buying an additional 1,400,251 shares during the last quarter. 26.56% of the stock is currently owned by institutional investors and hedge funds.

CG Oncology Stock Up 3.8%

CGON stock traded up $0.95 during mid-day trading on Thursday, hitting $26.23. 634,925 shares of the company were exchanged, compared to its average volume of 827,465. The firm has a market capitalization of $2.00 billion, a P/E ratio of -17.37 and a beta of 1.08. The business has a fifty day simple moving average of $23.13 and a 200-day simple moving average of $27.53. 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 posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.09). CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. The business had revenue of $0.05 million during the quarter, compared to analysts' expectations of $0.53 million. Research analysts predict that CG Oncology, Inc. will post -1.31 EPS for the current year.

Insider Activity

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

Analyst Upgrades and Downgrades

CGON has been the subject of a number of recent research reports. JPMorgan Chase & Co. initiated coverage on shares of CG Oncology in a research report on Friday, May 2nd. They issued an "overweight" rating and a $41.00 target price for the company. Royal Bank of Canada raised their price objective on shares of CG Oncology from $66.00 to $68.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. Cantor Fitzgerald restated an "overweight" rating and set a $75.00 price objective on shares of CG Oncology in a research report on Monday, April 28th. Scotiabank started coverage on shares of CG Oncology in a research report on Wednesday, April 16th. They set a "sector perform" rating and a $23.00 price objective for the company. Finally, Morgan Stanley cut their price objective on shares of CG Oncology from $55.00 to $52.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, CG Oncology currently has a consensus rating of "Buy" and an average target price of $58.22.

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.