Los Angeles Capital Management LLC Takes $832,000 Position in CG Oncology, Inc. (NASDAQ:CGON)

Los Angeles Capital Management LLC bought a new position in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 22,052 shares of the company's stock, valued at approximately $832,000.

A number of other institutional investors have also added to or reduced their stakes in the business. TimesSquare Capital Management LLC increased its holdings in CG Oncology by 27.4% during the third quarter. TimesSquare Capital Management LLC now owns 437,069 shares of the company's stock valued at $16,491,000 after buying an additional 94,010 shares during the period. Amalgamated Bank raised its position in shares of CG Oncology by 107.6% in the 3rd quarter. Amalgamated Bank now owns 1,621 shares of the company's stock worth $61,000 after acquiring an additional 840 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of CG Oncology during the 3rd quarter worth $664,000. Deerfield Management Company L.P. Series C grew its stake in CG Oncology by 811.9% in the second quarter. Deerfield Management Company L.P. Series C now owns 433,540 shares of the company's stock valued at $13,687,000 after purchasing an additional 386,000 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of CG Oncology during the second quarter valued at about $2,399,000. Hedge funds and other institutional investors own 26.56% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on CGON. HC Wainwright reiterated a "buy" rating and set a $75.00 price objective on shares of CG Oncology in a research note on Tuesday. Roth Mkm began coverage on CG Oncology in a report on Tuesday, August 27th. They set a "buy" rating and a $65.00 price objective for the company. UBS Group assumed coverage on CG Oncology in a research note on Thursday, October 24th. They set a "buy" rating and a $60.00 target price on the stock. Bank of America restated a "buy" rating and set a $65.00 price objective on shares of CG Oncology in a report on Tuesday, October 8th. Finally, Royal Bank of Canada began coverage on shares of CG Oncology in a research note on Monday, September 23rd. They issued an "outperform" rating and a $66.00 target price for the company. 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 data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $63.88.

CG Oncology Stock Down 7.3 %

CG Oncology stock traded down $2.60 during midday trading on Friday, hitting $32.90. 754,729 shares of the company were exchanged, compared to its average volume of 648,701. CG Oncology, Inc. has a fifty-two week low of $25.77 and a fifty-two week high of $50.23. The business has a fifty day simple moving average of $36.70 and a two-hundred day simple moving average of $34.73.

CG Oncology (NASDAQ:CGON - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $0.04 million during the quarter, compared to analyst estimates of $0.30 million. As a group, sell-side analysts anticipate that CG Oncology, Inc. will post -1.45 earnings per share for the current year.

Insider Activity

In other CG Oncology news, Director Hong Fang Song sold 650,455 shares of the business's stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $35.36, for a total transaction of $23,000,088.80. Following the completion of the sale, the director now directly owns 586,982 shares in the company, valued at approximately $20,755,683.52. The trade was a 52.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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.