22,608 Shares in CG Oncology, Inc. (NASDAQ:CGON) Acquired by Cinctive Capital Management LP

Cinctive Capital Management LP purchased a new stake in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 22,608 shares of the company's stock, valued at approximately $648,000.

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in shares of CG Oncology by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 1,156,670 shares of the company's stock valued at $33,181,000 after acquiring an additional 78,143 shares in the last quarter. Franklin Resources Inc. raised its position in CG Oncology by 3.7% in the fourth quarter. Franklin Resources Inc. now owns 1,275,891 shares of the company's stock valued at $36,593,000 after purchasing an additional 45,698 shares during the period. Alliancebernstein L.P. lifted its stake in shares of CG Oncology by 61.6% during the fourth quarter. Alliancebernstein L.P. now owns 1,817,887 shares of the company's stock worth $52,137,000 after purchasing an additional 692,982 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of CG Oncology during the fourth quarter worth about $189,000. Finally, Wellington Management Group LLP boosted its position in shares of 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 buying an additional 1,400,251 shares during the period. 26.56% of the stock is currently owned by hedge funds and other institutional investors.

CG Oncology Stock Performance

Shares of CGON stock traded up $2.19 during trading hours on Wednesday, hitting $17.78. 2,234,175 shares of the company were exchanged, compared to its average volume of 696,528. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of -12.52 and a beta of 1.24. CG Oncology, Inc. has a one year low of $14.80 and a one year high of $46.99. The business's 50-day simple moving average is $25.64 and its two-hundred day simple moving average is $30.59.

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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). The firm had revenue of $0.46 million for the quarter, compared to analyst estimates of $0.11 million. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. As a group, analysts anticipate that CG Oncology, Inc. will post -1.31 EPS for the current fiscal year.

Insider Buying and Selling

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction 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 SEC, which is available through the SEC website.

Analyst Upgrades and Downgrades

CGON has been the topic of several recent research reports. TD Cowen initiated coverage on CG Oncology in a research report on Tuesday, January 7th. They set a "buy" rating on the stock. Morgan Stanley restated an "overweight" rating and issued a $55.00 target price on shares of CG Oncology in a research note on Friday, March 7th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $75.00 price target on shares of CG Oncology in a research note on Monday, March 31st. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently 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.