Orbimed Advisors LLC Has $41.04 Million Holdings in CG Oncology, Inc. (NASDAQ:CGON)

Orbimed Advisors LLC grew its stake in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 107.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,431,114 shares of the company's stock after purchasing an additional 740,000 shares during the period. Orbimed Advisors LLC owned about 1.88% of CG Oncology worth $41,044,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in CG Oncology by 59.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 31,071 shares of the company's stock worth $1,172,000 after acquiring an additional 11,542 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in CG Oncology in the 4th quarter worth about $411,000. Vanguard Group Inc. lifted its stake in CG Oncology by 15.3% in the 4th quarter. Vanguard Group Inc. now owns 5,861,082 shares of the company's stock worth $168,096,000 after acquiring an additional 779,730 shares in the last quarter. Barclays PLC lifted its stake in CG Oncology by 331.1% in the 3rd quarter. Barclays PLC now owns 90,520 shares of the company's stock worth $3,416,000 after acquiring an additional 69,523 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its stake in CG Oncology by 16.7% in the 4th quarter. New York State Common Retirement Fund now owns 13,996 shares of the company's stock worth $401,000 after acquiring an additional 2,000 shares in the last quarter. 26.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CGON shares. Morgan Stanley reaffirmed an "overweight" rating and set a $55.00 price target on shares of CG Oncology in a research note on Friday, March 7th. HC Wainwright reaffirmed a "buy" rating and set a $75.00 price target on shares of CG Oncology in a research note on Monday, April 28th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $75.00 price target on shares of CG Oncology in a research note on Monday, April 28th. Royal Bank of Canada raised their price target on CG Oncology from $66.00 to $68.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th. Finally, JPMorgan Chase & Co. started coverage on CG Oncology in a research note on Friday, May 2nd. They set an "overweight" rating and a $41.00 price target for the company. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, CG Oncology presently has a consensus rating of "Buy" and a consensus price target of $58.56.

CG Oncology Stock Performance

Shares of NASDAQ CGON traded up $0.08 during mid-day trading on Friday, reaching $25.43. 1,233,336 shares of the company traded hands, compared to its average volume of 823,408. The stock has a market cap of $1.94 billion, a PE ratio of -16.84 and a beta of 1.08. The company's fifty day moving average is $23.40 and its two-hundred day moving average is $28.12. CG Oncology, Inc. has a fifty-two week low of $14.80 and a fifty-two week high of $40.47.

CG Oncology (NASDAQ:CGON - Get Free Report) last released its earnings results on Tuesday, May 13th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.09). The business had revenue of $0.05 million during the quarter, compared to analyst estimates of $0.53 million. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. Research analysts forecast that CG Oncology, Inc. will post -1.31 earnings per share for the current year.

Insider Buying and Selling at CG Oncology

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the firm'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 document filed with the SEC, which is accessible through the SEC website. Insiders own 7.40% of the company's stock.

About CG Oncology

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.