ArrowMark Colorado Holdings LLC Raises Holdings in CG Oncology, Inc. (NASDAQ:CGON)

ArrowMark Colorado Holdings LLC boosted its position in CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 17.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 230,390 shares of the company's stock after buying an additional 34,131 shares during the quarter. ArrowMark Colorado Holdings LLC owned approximately 0.34% of CG Oncology worth $8,693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. purchased a new position in shares of CG Oncology during the first quarter worth about $97,678,000. California State Teachers Retirement System bought a new stake in CG Oncology during the 1st quarter valued at approximately $103,000. Bank of New York Mellon Corp grew its stake in CG Oncology by 38.4% in the second quarter. Bank of New York Mellon Corp now owns 89,344 shares of the company's stock worth $2,821,000 after purchasing an additional 24,801 shares during the period. Rhumbline Advisers lifted its position in CG Oncology by 13.0% during the 2nd quarter. Rhumbline Advisers now owns 34,229 shares of the company's stock valued at $1,081,000 after acquiring an additional 3,940 shares during the period. Finally, TD Asset Management Inc purchased a new position in shares of CG Oncology during the second quarter valued at approximately $2,939,000. Hedge funds and other institutional investors own 26.56% of the company's stock.

CG Oncology Stock Performance

CGON traded down $0.86 on Tuesday, reaching $34.91. 108,354 shares of the company's stock were exchanged, compared to its average volume of 638,073. The stock's fifty day moving average price is $35.94 and its 200-day moving average price is $34.81. CG Oncology, Inc. has a twelve month low of $25.77 and a twelve month high of $50.23.

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

Wall Street Analyst Weigh In

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

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.