Soleus Capital Management L.P. Sells 12,000 Shares of CG Oncology, Inc. (NASDAQ:CGON)

Soleus Capital Management L.P. lowered its holdings in CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 3.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 328,585 shares of the company's stock after selling 12,000 shares during the period. Soleus Capital Management L.P. owned approximately 0.43% of CG Oncology worth $9,424,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CGON. Foresite Capital Management VI LLC acquired a new position in CG Oncology during the fourth quarter valued at $63,712,000. Marshall Wace LLP grew its stake in CG Oncology by 18,836.0% during the 4th quarter. Marshall Wace LLP now owns 1,458,072 shares of the company's stock valued at $41,818,000 after acquiring an additional 1,450,372 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of CG Oncology by 274.4% in the 4th quarter. Wellington Management Group LLP now owns 1,910,470 shares of the company's stock valued at $54,792,000 after purchasing an additional 1,400,251 shares during the period. Acorn Capital Advisors LLC purchased a new stake in shares of CG Oncology in the fourth quarter worth approximately $32,451,000. Finally, Decheng Capital LLC boosted its holdings in shares of 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 purchasing an additional 892,859 shares during the period. Institutional investors and hedge funds own 26.56% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. initiated coverage on shares of CG Oncology in a research note on Friday, May 2nd. They issued an "overweight" rating and a $41.00 price objective on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $75.00 price target on shares of CG Oncology in a report on Monday, April 28th. HC Wainwright reiterated a "buy" rating and set a $75.00 price objective on shares of CG Oncology in a report on Monday, April 28th. Royal Bank of Canada boosted their target price on CG Oncology from $66.00 to $68.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. Finally, Scotiabank assumed 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 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 company. According to data from MarketBeat, CG Oncology has a consensus rating of "Buy" and an average target price of $58.22.

Insiders Place Their Bets

In other news, Director Leonard E. Post sold 1,000 shares of the business's stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $30.76, for a total transaction of $30,760.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 7.40% of the company's stock.

CG Oncology Trading Down 1.8%

CG Oncology stock traded down $0.46 on Thursday, reaching $25.76. 530,501 shares of the stock were exchanged, compared to its average volume of 829,853. CG Oncology, Inc. has a twelve month low of $14.80 and a twelve month high of $40.47. The firm has a fifty day moving average price of $23.34 and a two-hundred day moving average price of $27.97. The stock has a market cap of $1.96 billion, a PE ratio of -17.06 and a beta of 1.08.

CG Oncology (NASDAQ:CGON - Get Free Report) last announced its earnings results 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). 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 for the quarter, compared to the consensus estimate of $0.53 million. Equities analysts anticipate that CG Oncology, Inc. will post -1.31 EPS 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.