XTX Topco Ltd Purchases New Stake in CG Oncology, Inc. (NASDAQ:CGON)

XTX Topco Ltd bought a new stake in CG Oncology, Inc. (NASDAQ:CGON - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 19,996 shares of the company's stock, valued at approximately $573,000.

Several other institutional investors also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. bought a new position in CG Oncology in the fourth quarter valued at approximately $68,000. KLP Kapitalforvaltning AS bought a new position in shares of CG Oncology during the 4th quarter valued at about $100,000. Federated Hermes Inc. bought a new position in shares of CG Oncology during the 4th quarter valued at about $172,000. Meeder Asset Management Inc. acquired a new position in shares of CG Oncology in the 4th quarter valued at approximately $189,000. Finally, NEOS Investment Management LLC increased its stake in 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 purchasing an additional 817 shares in the last quarter. Institutional investors and hedge funds own 26.56% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Morgan Stanley reiterated an "overweight" rating and issued a $55.00 price target on shares of CG Oncology in a report on Friday, March 7th. Scotiabank initiated coverage on shares of CG Oncology in a research note on Wednesday, April 16th. They issued a "sector perform" rating and a $23.00 target price for the company. TD Cowen assumed coverage on CG Oncology in a research note on Tuesday, January 7th. They issued a "buy" rating on the stock. Finally, HC Wainwright reaffirmed a "buy" rating and set a $75.00 price objective on shares of CG Oncology in a research report on Monday, March 31st. One equities research 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. According to data from MarketBeat.com, CG Oncology presently has a consensus rating of "Buy" and a consensus price target of $59.33.

CG Oncology Stock Performance

NASDAQ CGON traded up $0.19 during trading hours on Friday, hitting $21.71. 474,871 shares of the company traded hands, compared to its average volume of 833,100. The business's 50-day moving average is $23.71 and its 200-day moving average is $29.38. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of -15.29 and a beta of 1.24. CG Oncology, Inc. has a twelve month low of $14.80 and a twelve month high of $46.99.

CG Oncology (NASDAQ:CGON - Get Free Report) last released its quarterly earnings data on Tuesday, March 25th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.11). CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. The company had revenue of $0.46 million during the quarter, compared to analyst estimates of $0.11 million. Analysts predict that CG Oncology, Inc. will post -1.31 EPS for the current year.

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.