RTW Investments LP Boosts Stock Position in CG Oncology, Inc. (NASDAQ:CGON)

RTW Investments LP lifted its position in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 26.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,701,216 shares of the company's stock after acquiring an additional 357,142 shares during the quarter. RTW Investments LP owned 2.24% of CG Oncology worth $48,791,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of CGON. Decheng Capital LLC raised its position in shares of CG Oncology by 16.3% during the 4th quarter. Decheng Capital LLC now owns 6,371,669 shares of the company's stock worth $182,739,000 after buying an additional 892,859 shares in the last quarter. Vanguard Group Inc. raised its position in CG Oncology by 15.3% in the fourth quarter. Vanguard Group Inc. now owns 5,861,082 shares of the company's stock worth $168,096,000 after purchasing an additional 779,730 shares in the last quarter. Braidwell LP grew its position in CG Oncology by 3.5% in the fourth quarter. Braidwell LP now owns 3,283,317 shares of the company's stock valued at $94,166,000 after acquiring an additional 112,442 shares during the period. Foresite Capital Management VI LLC bought a new position in CG Oncology during the 4th quarter valued at about $63,712,000. Finally, Wellington Management Group LLP increased its holdings in CG Oncology by 274.4% during the 4th quarter. Wellington Management Group LLP now owns 1,910,470 shares of the company's stock valued at $54,792,000 after purchasing an additional 1,400,251 shares in the last quarter. Hedge funds and other institutional investors own 26.56% of the company's stock.

CG Oncology Stock Performance

CGON traded down $0.91 during mid-day trading on Wednesday, reaching $25.65. 646,669 shares of the stock were exchanged, compared to its average volume of 826,646. The company has a 50 day moving average price of $23.37 and a two-hundred day moving average price of $27.98. The stock has a market capitalization of $1.96 billion, a PE ratio of -16.93 and a beta of 1.08. CG Oncology, Inc. has a 1 year low of $14.80 and a 1 year high of $40.47.

CG Oncology (NASDAQ:CGON - Get Free Report) last announced its 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 business had revenue of $0.05 million during the quarter, compared to analysts' expectations of $0.53 million. CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. Sell-side analysts expect that CG Oncology, Inc. will post -1.31 EPS for the current fiscal year.

Insider Activity at CG Oncology

In other news, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction 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 Securities & Exchange Commission, which is available through the SEC website. 7.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CGON has been the topic of several recent research reports. Royal Bank of Canada raised their price target on CG Oncology from $66.00 to $68.00 and gave the company an "outperform" rating in a report on Tuesday, April 29th. JPMorgan Chase & Co. began coverage on CG Oncology in a research report on Friday, May 2nd. They set an "overweight" rating and a $41.00 price objective for the company. Scotiabank initiated coverage on shares of CG Oncology in a research report on Wednesday, April 16th. They issued a "sector perform" rating and a $23.00 price objective on the stock. Morgan Stanley lowered their target price on shares of CG Oncology from $55.00 to $52.00 and set an "overweight" rating on the stock in a report on Monday. Finally, HC Wainwright reissued a "buy" rating and set a $75.00 target price on shares of CG Oncology in a report on Monday, April 28th. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $58.22.

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.