Walleye Capital LLC Lowers Stock Holdings in CG Oncology, Inc. $CGON

Key Points

• Walleye Capital LLC significantly reduced its stake in CG Oncology, selling 142,315 shares and lowering its ownership by 63.4% to approximately $2.02 million.
• The share price of CG Oncology has increased by 0.9%, currently trading at $26.72, with a market cap of $2.04 billion.
• Analysts have mixed views on CG Oncology, with targets ranging from $40.00 to $68.00 and a general consensus rating of "Buy".

Walleye Capital LLC trimmed its holdings in CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 63.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,265 shares of the company's stock after selling 142,315 shares during the quarter. Walleye Capital LLC owned about 0.11% of CG Oncology worth $2,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GF Fund Management CO. LTD. acquired a new position in CG Oncology during the 4th quarter worth approximately $41,000. CWM LLC raised its stake in CG Oncology by 3,957.7% during the 1st quarter. CWM LLC now owns 2,110 shares of the company's stock worth $52,000 after buying an additional 2,058 shares during the period. GAMMA Investing LLC raised its stake in CG Oncology by 1,051.0% during the 1st quarter. GAMMA Investing LLC now owns 2,302 shares of the company's stock worth $56,000 after buying an additional 2,102 shares during the period. KLP Kapitalforvaltning AS raised its stake in CG Oncology by 131.4% during the 1st quarter. KLP Kapitalforvaltning AS now owns 8,100 shares of the company's stock worth $198,000 after buying an additional 4,600 shares during the period. Finally, Federated Hermes Inc. raised its stake in CG Oncology by 41.7% during the 1st quarter. Federated Hermes Inc. now owns 8,500 shares of the company's stock worth $208,000 after buying an additional 2,500 shares during the period. 26.56% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other CG Oncology news, Director Leonard E. Post sold 2,000 shares of the firm's stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $28.00, for a total transaction of $56,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

CG Oncology Stock Performance

NASDAQ:CGON traded up $0.37 during trading hours on Wednesday, reaching $27.83. The stock had a trading volume of 164,983 shares, compared to its average volume of 957,322. The stock has a 50 day simple moving average of $26.22 and a 200 day simple moving average of $25.24. CG Oncology, Inc. has a 12-month low of $14.80 and a 12-month high of $40.47. The stock has a market cap of $2.12 billion, a P/E ratio of -15.83 and a beta of 0.87.

CG Oncology (NASDAQ:CGON - Get Free Report) last posted its quarterly earnings results on Friday, August 8th. The company reported ($0.54) EPS for the quarter, missing analysts' consensus estimates of ($0.49) by ($0.05). CG Oncology had a negative return on equity of 19.37% and a negative net margin of 15,945.17%. On average, equities analysts expect that CG Oncology, Inc. will post -1.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CGON shares. Piper Sandler started coverage on CG Oncology in a research note on Monday, August 18th. They issued an "overweight" rating and a $55.00 price objective for the company. Royal Bank Of Canada lowered their price objective on CG Oncology from $68.00 to $53.00 and set an "outperform" rating for the company in a research note on Wednesday, July 16th. Zacks Research raised CG Oncology from a "strong sell" rating to a "hold" rating in a research note on Monday. The Goldman Sachs Group raised CG Oncology to a "strong-buy" rating and set a $40.00 price objective for the company in a research note on Thursday, July 10th. Finally, Morgan Stanley increased their price objective on CG Oncology from $52.00 to $56.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.30.

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.