Squarepoint Ops LLC Makes New Investment in CG Oncology, Inc. (NASDAQ:CGON)

Squarepoint Ops LLC purchased a new position in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 10,907 shares of the company's stock, valued at approximately $313,000.

Other hedge funds have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of CG Oncology during the fourth quarter worth $68,000. KLP Kapitalforvaltning AS acquired a new stake in CG Oncology in the 4th quarter worth about $100,000. Federated Hermes Inc. acquired a new stake in CG Oncology in the 4th quarter worth about $172,000. Meeder Asset Management Inc. acquired a new stake in CG Oncology in the 4th quarter worth about $189,000. Finally, NEOS Investment Management LLC raised its stake in CG Oncology by 10.9% in the 4th quarter. NEOS Investment Management LLC now owns 8,329 shares of the company's stock worth $239,000 after purchasing an additional 817 shares in the last quarter. 26.56% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Leonard E. Post sold 1,000 shares of the company'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 value of $30,760.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 7.40% of the company's stock.

CG Oncology Price Performance

CGON stock opened at $26.91 on Friday. The company has a 50 day simple moving average of $23.19 and a 200 day simple moving average of $27.11. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of -17.82 and a beta of 0.86. CG Oncology, Inc. has a 1 year low of $14.80 and a 1 year high of $40.47.

CG Oncology (NASDAQ:CGON - Get Free Report) last announced 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 company had revenue of $0.05 million for the quarter, compared to analyst estimates of $0.53 million. On average, equities research analysts anticipate that CG Oncology, Inc. will post -1.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CGON shares. Royal Bank of Canada lifted their price target on shares of 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 note on Monday, May 19th. Cantor Fitzgerald restated an "overweight" rating and issued a $75.00 target price on shares of CG Oncology in a research report on Monday, April 28th. HC Wainwright restated a "buy" rating and issued a $75.00 target price on shares of CG Oncology in a research report on Monday, April 28th. Finally, 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 objective for the company. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus 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.

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