Zimmer Partners LP Takes $287,000 Position in CG Oncology, Inc. (NASDAQ:CGON)

Zimmer Partners LP bought a new position in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 10,000 shares of the company's stock, valued at approximately $287,000.

Several other institutional investors and hedge funds have also bought and sold shares of CGON. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of CG Oncology during the 4th quarter worth approximately $68,000. KLP Kapitalforvaltning AS acquired a new stake in shares of CG Oncology in the 4th quarter valued at $100,000. Federated Hermes Inc. bought a new position in shares of CG Oncology in the 4th quarter valued at $172,000. Meeder Asset Management Inc. acquired a new position in shares of CG Oncology during the 4th quarter worth $189,000. Finally, NEOS Investment Management LLC lifted its position in shares of CG Oncology by 10.9% during the 4th quarter. NEOS Investment Management LLC now owns 8,329 shares of the company's stock worth $239,000 after buying an additional 817 shares during the last quarter. Institutional investors own 26.56% of the company's stock.

Wall Street Analyst Weigh In

CGON has been the topic of a number of recent analyst reports. Morgan Stanley decreased their target price on CG Oncology from $55.00 to $52.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Scotiabank started coverage on shares of CG Oncology in a report on Wednesday, April 16th. They set a "sector perform" rating and a $23.00 price target on the stock. Royal Bank of Canada upped their price objective on shares of CG Oncology from $66.00 to $68.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. 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. Finally, JPMorgan Chase & Co. began coverage on shares of CG Oncology in a research note on Friday, May 2nd. They set an "overweight" rating and a $41.00 target price on the stock. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $58.22.

Insider Buying and Selling

In related 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 7.40% of the stock is owned by corporate insiders.

CG Oncology Trading Down 1.2%

NASDAQ:CGON traded down $0.32 during mid-day trading on Monday, hitting $25.44. 653,529 shares of the company's stock were exchanged, compared to its average volume of 826,675. 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 capitalization of $1.94 billion, a P/E ratio of -16.85 and a beta of 1.08. The company has a 50 day simple moving average of $23.26 and a 200-day simple moving average of $27.66.

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 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. As a group, analysts expect that CG Oncology, Inc. will post -1.31 earnings per share for the current 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.