CG Oncology, Inc. (NASDAQ:CGON) Stock Holdings Raised by RTW Investments LP

RTW Investments LP boosted its holdings in CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 26.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,701,216 shares of the company's stock after buying an additional 357,142 shares during the period. RTW Investments LP owned 2.24% of CG Oncology worth $48,791,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in CG Oncology in the 4th quarter worth about $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 boosted 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 buying an additional 817 shares during the last quarter. 26.56% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Scotiabank began coverage on CG Oncology in a research note on Wednesday, April 16th. They issued a "sector perform" rating and a $23.00 price target on the stock. HC Wainwright restated a "buy" rating and issued a $75.00 price target on shares of CG Oncology in a report on Monday, April 28th. 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. JPMorgan Chase & Co. initiated coverage on CG Oncology in a report on Friday, May 2nd. They issued an "overweight" rating and a $41.00 price target for the company. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $75.00 price objective on shares of CG Oncology in a research note on Monday, April 28th. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $58.22.

CG Oncology Trading Down 2.2%

NASDAQ:CGON traded down $0.57 on Monday, reaching $24.86. The stock had a trading volume of 972,044 shares, compared to its average volume of 824,002. The company has a 50-day moving average of $23.36 and a 200 day moving average of $27.99. The stock has a market cap of $1.89 billion, a P/E ratio of -16.46 and a beta of 1.08. CG Oncology, Inc. has a 12-month low of $14.80 and a 12-month high of $40.47.

CG Oncology (NASDAQ:CGON - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.45) EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $0.53 million. On average, equities analysts predict that CG Oncology, Inc. will post -1.31 EPS for the current year.

Insider Activity

In related news, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction on Monday, April 28th. The shares were sold at an average price of $30.76, for a total value of $30,760.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 7.40% of the company's stock.

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.