15,734 Shares in CG Oncology, Inc. (NASDAQ:CGON) Purchased by HighVista Strategies LLC

HighVista Strategies LLC bought a new position in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 15,734 shares of the company's stock, valued at approximately $594,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Amalgamated Bank raised its holdings in CG Oncology by 107.6% during the 3rd quarter. Amalgamated Bank now owns 1,621 shares of the company's stock worth $61,000 after buying an additional 840 shares during the period. California State Teachers Retirement System acquired a new stake in shares of CG Oncology during the first quarter valued at approximately $103,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of CG Oncology during the third quarter valued at approximately $241,000. Profund Advisors LLC purchased a new stake in shares of CG Oncology in the 2nd quarter valued at approximately $300,000. Finally, SG Americas Securities LLC acquired a new position in CG Oncology in the 3rd quarter worth approximately $664,000. Institutional investors and hedge funds own 26.56% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CGON shares. Roth Mkm started coverage on CG Oncology in a report on Tuesday, August 27th. They issued a "buy" rating and a $65.00 target price for the company. Royal Bank of Canada assumed coverage on CG Oncology in a research report on Monday, September 23rd. They set an "outperform" rating and a $66.00 price objective for the company. Bank of America reaffirmed a "buy" rating and issued a $65.00 target price on shares of CG Oncology in a research report on Tuesday, October 8th. Roth Capital upgraded CG Oncology to a "strong-buy" rating in a report on Tuesday, August 27th. Finally, HC Wainwright reissued a "buy" rating and issued a $75.00 price target on shares of CG Oncology in a research note on Tuesday, November 12th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, CG Oncology currently has an average rating of "Buy" and an average target price of $63.88.

CG Oncology Price Performance

Shares of CG Oncology stock traded down $0.87 on Tuesday, reaching $34.90. The stock had a trading volume of 357,402 shares, compared to its average volume of 639,277. The business's 50-day moving average price is $35.94 and its two-hundred day moving average price is $34.81. CG Oncology, Inc. has a fifty-two week low of $25.77 and a fifty-two week high of $50.23.

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

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.