CG Oncology, Inc. (NASDAQ:CGON) Stake Cut by Soleus Capital Management L.P.

Soleus Capital Management L.P. decreased its holdings in CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 3.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 328,585 shares of the company's stock after selling 12,000 shares during the quarter. Soleus Capital Management L.P. owned approximately 0.43% of CG Oncology worth $9,424,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Squarepoint Ops LLC purchased a new stake in shares of CG Oncology during the 4th quarter worth about $313,000. Tema Etfs LLC purchased a new stake in shares of CG Oncology during the 4th quarter worth about $239,000. RTW Investments LP grew its holdings in shares of CG Oncology by 26.6% during the 4th quarter. RTW Investments LP now owns 1,701,216 shares of the company's stock worth $48,791,000 after purchasing an additional 357,142 shares during the period. ProShare Advisors LLC grew its holdings in shares of CG Oncology by 84.8% during the 4th quarter. ProShare Advisors LLC now owns 16,561 shares of the company's stock worth $475,000 after purchasing an additional 7,599 shares during the period. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of CG Oncology by 16.4% during the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,834 shares of the company's stock worth $368,000 after purchasing an additional 1,810 shares during the period. Hedge funds and other institutional investors own 26.56% of the company's stock.

Insider Activity

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

Wall Street Analyst Weigh In

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

CG Oncology Trading Down 1.2%

CGON traded down $0.32 during trading on Friday, reaching $25.44. 653,529 shares of the company were exchanged, compared to its average volume of 826,924. The stock has a market cap of $1.94 billion, a P/E ratio of -16.85 and a beta of 1.08. The firm has a 50 day moving average of $23.26 and a 200 day moving average of $27.81. CG Oncology, Inc. has a 52 week low of $14.80 and a 52 week high of $40.47.

CG Oncology (NASDAQ:CGON - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $0.05 million during the quarter, compared to the consensus estimate of $0.53 million. As a group, analysts forecast that CG Oncology, Inc. will post -1.31 earnings per share for the current fiscal 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.