CG Oncology, Inc. (NASDAQ:CGON) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. lowered its position in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 58.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 308,259 shares of the company's stock after selling 437,804 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.41% of CG Oncology worth $8,841,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of CG Oncology during the fourth quarter valued at approximately $68,000. KLP Kapitalforvaltning AS acquired a new position in shares of CG Oncology during the fourth quarter valued at approximately $100,000. Federated Hermes Inc. acquired a new position in shares of CG Oncology during the fourth quarter valued at approximately $172,000. Meeder Asset Management Inc. acquired a new position in shares of CG Oncology during the fourth quarter valued at approximately $189,000. Finally, NEOS Investment Management LLC raised its holdings in shares of CG Oncology by 10.9% during the fourth 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. Institutional investors and hedge funds own 26.56% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CGON. 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. Royal Bank of Canada upped their price target on CG Oncology from $66.00 to $68.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. Morgan Stanley dropped their price target on CG Oncology from $55.00 to $52.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. JPMorgan Chase & Co. started coverage on CG Oncology in a research report on Friday, May 2nd. They issued an "overweight" rating and a $41.00 price target for the company. Finally, Scotiabank started coverage on CG Oncology in a research report on Wednesday, April 16th. They issued a "sector perform" rating and a $23.00 price target for the company. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $58.22.

Insider Buying and Selling

In related news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction that occurred on Monday, April 28th. The stock was 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 Securities & Exchange Commission, which is available through this hyperlink. 7.40% of the stock is currently owned by company insiders.

CG Oncology Trading Down 1.2%

CG Oncology stock traded down $0.32 during mid-day trading on Friday, hitting $25.44. The company's stock had a trading volume of 653,529 shares, compared to its average volume of 826,675. The firm has a market capitalization of $1.94 billion, a PE ratio of -16.85 and a beta of 1.08. CG Oncology, Inc. has a 1 year low of $14.80 and a 1 year high of $40.47. The stock's fifty day moving average is $23.26 and its two-hundred day moving average is $27.74.

CG Oncology (NASDAQ:CGON - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.09). The business had revenue of $0.05 million during the quarter, compared to analysts' expectations of $0.53 million. CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. On average, equities analysts expect that CG Oncology, Inc. will post -1.31 EPS for the current fiscal year.

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.