CenterBook Partners LP Lowers Position in CG Oncology, Inc. (NASDAQ:CGON)

CenterBook Partners LP lessened its holdings in CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 23.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 236,108 shares of the company's stock after selling 73,188 shares during the period. CenterBook Partners LP owned approximately 0.31% of CG Oncology worth $6,772,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. NEOS Investment Management LLC raised its position in CG Oncology by 10.9% in the 4th quarter. NEOS Investment Management LLC now owns 8,329 shares of the company's stock valued at $239,000 after purchasing an additional 817 shares in the last quarter. Rhumbline Advisers raised its holdings in CG Oncology by 2.2% in the fourth quarter. Rhumbline Advisers now owns 69,016 shares of the company's stock valued at $1,979,000 after acquiring an additional 1,458 shares in the last quarter. New York State Common Retirement Fund lifted its stake in CG Oncology by 16.7% in the fourth quarter. New York State Common Retirement Fund now owns 13,996 shares of the company's stock worth $401,000 after acquiring an additional 2,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in CG Oncology during the 4th quarter worth approximately $68,000. Finally, Legal & General Group Plc increased its position in shares of CG Oncology by 10.6% in the 4th quarter. Legal & General Group Plc now owns 29,262 shares of the company's stock valued at $839,000 after purchasing an additional 2,793 shares during the last quarter. 26.56% of the stock is owned by institutional investors and hedge funds.

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CG Oncology Stock Up 2.3 %

NASDAQ:CGON traded up $0.44 during trading hours on Monday, reaching $19.72. 344,038 shares of the company's stock were exchanged, compared to its average volume of 705,550. CG Oncology, Inc. has a 1-year low of $14.80 and a 1-year high of $46.99. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of -13.89 and a beta of 1.24. The company has a 50-day moving average of $25.19 and a 200 day moving average of $30.30.

CG Oncology (NASDAQ:CGON - Get Free Report) last released its quarterly earnings results on Tuesday, March 25th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $0.46 million for the quarter, compared to analysts' expectations of $0.11 million. Research analysts forecast that CG Oncology, Inc. will post -1.31 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on CGON. 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. TD Cowen initiated coverage on shares of CG Oncology in a research note on Tuesday, January 7th. They issued a "buy" rating on the stock. Finally, HC Wainwright restated a "buy" rating and set a $75.00 price objective on shares of CG Oncology in a research report on Monday, March 31st. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target 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.