Alliancebernstein L.P. grew its stake in CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 61.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,817,887 shares of the company's stock after buying an additional 692,982 shares during the quarter. Alliancebernstein L.P. owned 2.39% of CG Oncology worth $52,137,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in CGON. Meeder Asset Management Inc. purchased a new position in CG Oncology in the fourth quarter valued at $189,000. Wellington Management Group LLP increased its stake 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 valued at $54,792,000 after purchasing an additional 1,400,251 shares during the last quarter. Pictet Asset Management Holding SA purchased a new stake in shares of CG Oncology during the 4th quarter worth approximately $19,348,000. NEOS Investment Management LLC raised 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 acquiring an additional 817 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of CG Oncology by 443.5% during the fourth quarter. JPMorgan Chase & Co. now owns 168,866 shares of the company's stock worth $4,843,000 after purchasing an additional 137,795 shares in the last quarter. 26.56% of the stock is currently owned by hedge funds and other institutional investors.
CG Oncology Stock Down 6.6 %
NASDAQ CGON traded down $1.17 during mid-day trading on Thursday, hitting $16.61. The stock had a trading volume of 235,363 shares, compared to its average volume of 694,919. The company has a 50 day simple moving average of $25.64 and a 200 day simple moving average of $30.59. The company has a market cap of $1.27 billion, a price-to-earnings ratio of -11.80 and a beta of 1.24. CG Oncology, Inc. has a 52-week low of $14.80 and a 52-week high of $46.99.
CG Oncology (NASDAQ:CGON - Get Free Report) last announced its quarterly earnings results on Tuesday, March 25th. The company reported ($0.48) earnings per share for the quarter, missing analysts' consensus estimates 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 firm had revenue of $0.46 million during the quarter, compared to analysts' expectations of $0.11 million. As a group, equities analysts anticipate that CG Oncology, Inc. will post -1.31 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on CGON shares. HC Wainwright reissued a "buy" rating and issued a $75.00 target price on shares of CG Oncology in a research report on Monday, March 31st. TD Cowen started coverage on shares of CG Oncology in a research note on Tuesday, January 7th. They set a "buy" rating for the company. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $55.00 price objective on shares of CG Oncology in a research report on Friday, March 7th. Nine equities 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.com, the stock presently has a consensus rating of "Buy" and an average target price of $63.88.
Check Out Our Latest Stock Analysis on CG Oncology
Insiders Place Their Bets
In other news, Director Leonard E. Post sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $29.66, for a total transaction of $29,660.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
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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