Marshall Wace LLP Buys 1,450,372 Shares of CG Oncology, Inc. (NASDAQ:CGON)

Marshall Wace LLP increased its position in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 18,836.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,458,072 shares of the company's stock after acquiring an additional 1,450,372 shares during the period. Marshall Wace LLP owned approximately 1.92% of CG Oncology worth $41,818,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of CGON. State Street Corp raised its position in shares of CG Oncology by 73.0% in the third quarter. State Street Corp now owns 1,700,653 shares of the company's stock worth $64,166,000 after buying an additional 717,722 shares in the last quarter. Barclays PLC increased its holdings in shares of CG Oncology by 331.1% in the 3rd quarter. Barclays PLC now owns 90,520 shares of the company's stock worth $3,416,000 after buying an additional 69,523 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of CG Oncology by 96.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,078,527 shares of the company's stock worth $40,701,000 after acquiring an additional 528,749 shares during the last quarter. Franklin Resources Inc. increased its stake in CG Oncology by 8.9% in the third quarter. Franklin Resources Inc. now owns 1,230,193 shares of the company's stock valued at $46,157,000 after acquiring an additional 100,106 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in CG Oncology by 59.1% during the third quarter. JPMorgan Chase & Co. now owns 31,071 shares of the company's stock worth $1,172,000 after purchasing an additional 11,542 shares during the last quarter. 26.56% of the stock is currently owned by hedge funds and other institutional investors.

CG Oncology Price Performance

Shares of NASDAQ:CGON traded down $0.04 during trading on Wednesday, hitting $20.44. The company's stock had a trading volume of 174,324 shares, compared to its average volume of 725,522. The company has a 50-day moving average of $24.01 and a 200-day moving average of $29.54. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of -14.39 and a beta of 1.24. CG Oncology, Inc. has a 12 month low of $14.80 and a 12 month high of $46.99.

CG Oncology (NASDAQ:CGON - Get Free Report) last posted its quarterly earnings data on Tuesday, March 25th. The company reported ($0.48) earnings per share for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.11). CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. The company had revenue of $0.46 million for the quarter, compared to analysts' expectations of $0.11 million. As a group, research analysts anticipate that CG Oncology, Inc. will post -1.31 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. TD Cowen began coverage on shares of CG Oncology in a research report on Tuesday, January 7th. They set a "buy" rating on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $75.00 price target on shares of CG Oncology in a research note on Monday, March 31st. Morgan Stanley reiterated an "overweight" rating and set a $55.00 target price on shares of CG Oncology in a report on Friday, March 7th. Finally, Scotiabank initiated coverage on CG Oncology in a research report on Wednesday, April 16th. They set a "sector perform" rating and a $23.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $59.33.

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.