Millennium Management LLC Takes $7.14 Million Position in CG Oncology, Inc. (NASDAQ:CGON)

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

Other hedge funds have also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. bought a new position in shares of CG Oncology during the 4th quarter worth about $411,000. Vanguard Group Inc. lifted its holdings in shares of CG Oncology by 15.3% during the 4th quarter. Vanguard Group Inc. now owns 5,861,082 shares of the company's stock worth $168,096,000 after acquiring an additional 779,730 shares during the period. Barclays PLC lifted its holdings in shares of CG Oncology by 331.1% during the 3rd quarter. Barclays PLC now owns 90,520 shares of the company's stock worth $3,416,000 after acquiring an additional 69,523 shares during the period. New York State Common Retirement Fund lifted its holdings in shares of CG Oncology by 16.7% during the 4th quarter. New York State Common Retirement Fund now owns 13,996 shares of the company's stock worth $401,000 after acquiring an additional 2,000 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of CG Oncology by 45.3% during the 4th quarter. Wells Fargo & Company MN now owns 28,234 shares of the company's stock worth $810,000 after acquiring an additional 8,803 shares during the period. 26.56% of the stock is owned by institutional investors.

Insider Buying and Selling

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction dated 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 document filed with the SEC, which is accessible through this link. 7.40% of the stock is owned by corporate insiders.

CG Oncology Trading Down 2.0%

Shares of NASDAQ:CGON traded down $0.53 on Friday, reaching $25.70. 726,922 shares of the company's stock were exchanged, compared to its average volume of 826,993. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of -17.02 and a beta of 1.08. The company has a fifty day moving average of $23.05 and a 200-day moving average of $27.30. CG Oncology, Inc. has a twelve month low of $14.80 and a twelve month high of $40.47.

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 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%. The company had revenue of $0.05 million during the quarter, compared to analyst estimates of $0.53 million. As a group, equities research analysts forecast that CG Oncology, Inc. will post -1.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CGON has been the subject of a number of analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $75.00 price objective on shares of CG Oncology in a report on Monday, April 28th. HC Wainwright restated a "buy" rating and issued a $75.00 price objective on shares of CG Oncology in a research report on Monday, April 28th. Royal Bank of Canada lifted their price target 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. Scotiabank began 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 target for the company. Finally, JPMorgan Chase & Co. began coverage on shares of CG Oncology in a report on Friday, May 2nd. They set an "overweight" rating and a $41.00 price objective for the company. One equities 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 stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $58.22.

CG Oncology Company 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.