ABG WTT Global Life Science Capital Partners GP Ltd Lowers Position in CG Oncology, Inc. (NASDAQ:CGON)

ABG WTT Global Life Science Capital Partners GP Ltd decreased its stake in CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 45.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 495,526 shares of the company's stock after selling 419,975 shares during the period. CG Oncology accounts for about 92.9% of ABG WTT Global Life Science Capital Partners GP Ltd's holdings, making the stock its biggest holding. ABG WTT Global Life Science Capital Partners GP Ltd owned 0.74% of CG Oncology worth $18,696,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. bought a new stake in CG Oncology during the first quarter valued at $97,678,000. Yu Fan acquired a new stake in CG Oncology during the second quarter worth approximately $49,828,000. Price T Rowe Associates Inc. MD bought a new stake in CG Oncology in the first quarter worth approximately $43,555,000. Deerfield Management Company L.P. Series C lifted its stake in CG Oncology by 811.9% in the second quarter. Deerfield Management Company L.P. Series C now owns 433,540 shares of the company's stock valued at $13,687,000 after buying an additional 386,000 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of CG Oncology by 114.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 379,664 shares of the company's stock worth $14,325,000 after buying an additional 202,262 shares in the last quarter. 26.56% of the stock is owned by institutional investors and hedge funds.

CG Oncology Stock Up 0.6 %

Shares of CGON stock traded up $0.20 during trading hours on Thursday, reaching $34.10. The company had a trading volume of 504,983 shares, compared to its average volume of 643,211. CG Oncology, Inc. has a 12 month low of $25.77 and a 12 month high of $50.23. The business has a fifty day simple moving average of $36.18 and a 200-day simple moving average of $34.62.

CG Oncology (NASDAQ:CGON - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.06. CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. The business had revenue of $0.04 million for the quarter, compared to analysts' expectations of $0.30 million. Sell-side analysts expect that CG Oncology, Inc. will post -1.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. UBS Group began coverage on shares of CG Oncology in a research note on Thursday, October 24th. They issued a "buy" rating and a $60.00 price objective for the company. Royal Bank of Canada initiated coverage on shares of CG Oncology in a report on Monday, September 23rd. They set an "outperform" rating and a $66.00 price objective on the stock. HC Wainwright restated a "buy" rating and issued a $75.00 target price on shares of CG Oncology in a research note on Tuesday, November 12th. Roth Capital raised CG Oncology to a "strong-buy" rating in a research report on Tuesday, August 27th. Finally, Bank of America reaffirmed a "buy" rating and set a $65.00 price target on shares of CG Oncology in a research note on Tuesday, October 8th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $63.88.

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.