CG Oncology, Inc. (NASDAQ:CGON) is Ally Bridge Group NY LLC's 4th Largest Position

Ally Bridge Group NY LLC boosted its position in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 50.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 263,266 shares of the company's stock after acquiring an additional 88,390 shares during the quarter. CG Oncology comprises about 5.3% of Ally Bridge Group NY LLC's portfolio, making the stock its 4th largest position. Ally Bridge Group NY LLC owned about 0.39% of CG Oncology worth $9,933,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Amalgamated Bank increased its stake in shares of CG Oncology by 107.6% in the third quarter. Amalgamated Bank now owns 1,621 shares of the company's stock worth $61,000 after acquiring an additional 840 shares during the period. California State Teachers Retirement System purchased a new stake in CG Oncology in the first quarter valued at $103,000. Rhumbline Advisers grew its position in CG Oncology by 13.0% during the 2nd quarter. Rhumbline Advisers now owns 34,229 shares of the company's stock worth $1,081,000 after purchasing an additional 3,940 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of CG Oncology during the 3rd quarter valued at about $241,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of CG Oncology by 2.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 266,787 shares of the company's stock valued at $8,422,000 after buying an additional 6,899 shares during the period. Hedge funds and other institutional investors own 26.56% of the company's stock.

CG Oncology Price Performance

NASDAQ:CGON traded up $0.20 during trading hours on Thursday, hitting $34.10. 504,983 shares of the stock were exchanged, compared to its average volume of 643,211. The firm's fifty day moving average price is $36.18 and its 200 day moving average price is $34.62. CG Oncology, Inc. has a 52-week low of $25.77 and a 52-week high of $50.23.

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

Wall Street Analyst Weigh In

CGON has been the subject of several recent research reports. Bank of America reiterated a "buy" rating and set a $65.00 price target on shares of CG Oncology in a research report on Tuesday, October 8th. 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 target price for the company. UBS Group started coverage on shares of CG Oncology in a report on Thursday, October 24th. They set a "buy" rating and a $60.00 price target on the stock. HC Wainwright reiterated a "buy" rating and issued a $75.00 price objective on shares of CG Oncology in a research report on Tuesday, November 12th. Finally, Roth Mkm initiated coverage on shares of CG Oncology in a research note on Tuesday, August 27th. They set a "buy" rating and a $65.00 target price on the stock. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, CG Oncology has a consensus rating of "Buy" and an average target price of $63.88.

CG Oncology Company 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.