Squarepoint Ops LLC Invests $313,000 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 fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,907 shares of the company's stock, valued at approximately $313,000.

A number of other institutional investors also recently bought and sold shares of the business. Tema Etfs LLC purchased a new stake in CG Oncology during the 4th quarter worth about $239,000. RTW Investments LP lifted its holdings in 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 buying an additional 357,142 shares during the last quarter. ProShare Advisors LLC lifted its holdings in 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 buying an additional 7,599 shares during the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in 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 buying an additional 1,810 shares during the last quarter. Finally, Orbimed Advisors LLC lifted its holdings in CG Oncology by 107.1% during the 4th quarter. Orbimed Advisors LLC now owns 1,431,114 shares of the company's stock worth $41,044,000 after buying an additional 740,000 shares during the last quarter. 26.56% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CG Oncology

In other news, Director Leonard E. Post sold 1,000 shares of the firm'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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 7.40% of the stock is owned by insiders.

CG Oncology Price Performance

NASDAQ CGON traded up $0.48 on Tuesday, hitting $27.48. 812,994 shares of the company's stock were exchanged, compared to its average volume of 833,700. The firm's 50-day moving average price is $23.46 and its two-hundred day moving average price is $26.99. CG Oncology, Inc. has a fifty-two week low of $14.80 and a fifty-two week high of $40.47. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of -18.20 and a beta of 0.86.

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 for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.09). The firm had revenue of $0.05 million during the quarter, compared to analyst estimates 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, research analysts predict that CG Oncology, Inc. will post -1.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CGON. 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 report on Tuesday, April 29th. Morgan Stanley reduced their target price on CG Oncology from $55.00 to $52.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Scotiabank began coverage on CG Oncology in a report on Wednesday, April 16th. They issued a "sector perform" rating and a $23.00 target price for the company. Cantor Fitzgerald reissued an "overweight" rating and issued a $75.00 target price on shares of CG Oncology in a report on Monday, April 28th. Finally, JPMorgan Chase & Co. initiated coverage on CG Oncology in a report on Friday, May 2nd. They issued an "overweight" rating and a $41.00 target price for the company. One investment 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's stock. According to data from MarketBeat, CG Oncology presently has a consensus rating of "Buy" and an average target price of $58.22.

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.