ADAR1 Capital Management LLC grew its stake in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 50.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 215,750 shares of the company's stock after buying an additional 72,646 shares during the quarter. CG Oncology comprises 1.2% of ADAR1 Capital Management LLC's holdings, making the stock its 17th biggest position. ADAR1 Capital Management LLC owned about 0.28% of CG Oncology worth $6,188,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in CG Oncology by 274.4% in the fourth quarter. Wellington Management Group LLP now owns 1,910,470 shares of the company's stock worth $54,792,000 after acquiring an additional 1,400,251 shares in the last quarter. Vanguard Group Inc. boosted its holdings in CG Oncology by 15.3% during the fourth quarter. Vanguard Group Inc. now owns 5,861,082 shares of the company's stock worth $168,096,000 after buying an additional 779,730 shares in the last quarter. State Street Corp grew its position in CG Oncology by 73.0% in the third quarter. State Street Corp now owns 1,700,653 shares of the company's stock worth $64,166,000 after buying an additional 717,722 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of CG Oncology by 61.6% in the fourth quarter. Alliancebernstein L.P. now owns 1,817,887 shares of the company's stock valued at $52,137,000 after buying an additional 692,982 shares in the last quarter. Finally, Pictet Asset Management Holding SA acquired a new stake in shares of CG Oncology during the 4th quarter valued at $19,348,000. 26.56% of the stock is currently owned by institutional investors and hedge funds.
CG Oncology Price Performance
CG Oncology stock traded up $1.65 during trading hours on Friday, hitting $19.28. The company had a trading volume of 1,714,584 shares, compared to its average volume of 706,718. The firm's fifty day moving average is $25.19 and its 200-day moving average is $30.35. The firm has a market capitalization of $1.47 billion, a P/E ratio of -13.58 and a beta of 1.24. CG Oncology, Inc. has a fifty-two week low of $14.80 and a fifty-two week high of $46.99.
CG Oncology (NASDAQ:CGON - Get Free Report) last announced its quarterly earnings data on Tuesday, March 25th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.11). CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. The firm had revenue of $0.46 million for the quarter, compared to analysts' expectations of $0.11 million. Analysts anticipate that CG Oncology, Inc. will post -1.31 earnings per share for the current year.
Insider Activity
In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the firm's stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $29.66, for a total transaction of $29,660.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on CGON shares. TD Cowen initiated coverage on CG Oncology in a report on Tuesday, January 7th. They issued a "buy" rating on the stock. Morgan Stanley restated an "overweight" rating and set a $55.00 price objective on shares of CG Oncology in a report on Friday, March 7th. Finally, HC Wainwright reiterated a "buy" rating and issued a $75.00 target price on shares of CG Oncology in a report on Monday, March 31st. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $63.88.
Get Our Latest Analysis on CG Oncology
About CG Oncology
(
Free Report)
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.
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