Neo Ivy Capital Management Takes Position in CG Oncology, Inc. (NASDAQ:CGON)

Neo Ivy Capital Management purchased a new position in CG Oncology, Inc. (NASDAQ:CGON - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 29,678 shares of the company's stock, valued at approximately $1,120,000.

Several other institutional investors have also recently added to or reduced their stakes in CGON. Ally Bridge Group NY LLC increased its holdings in shares of CG Oncology by 50.5% in the 3rd quarter. Ally Bridge Group NY LLC now owns 263,266 shares of the company's stock valued at $9,933,000 after acquiring an additional 88,390 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in CG Oncology by 114.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 379,664 shares of the company's stock valued at $14,325,000 after purchasing an additional 202,262 shares during the last quarter. Deerfield Management Company L.P. Series C raised its holdings in shares of CG Oncology by 811.9% during the second quarter. Deerfield Management Company L.P. Series C now owns 433,540 shares of the company's stock worth $13,687,000 after purchasing an additional 386,000 shares during the period. BNP Paribas Financial Markets lifted its position in shares of CG Oncology by 876.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 26,660 shares of the company's stock worth $1,006,000 after buying an additional 23,931 shares during the last quarter. Finally, Ensign Peak Advisors Inc acquired a new position in shares of CG Oncology in the 2nd quarter valued at about $1,912,000. 26.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CGON has been the topic of several research reports. Roth Capital upgraded shares of CG Oncology to a "strong-buy" rating in a research note on Tuesday, August 27th. Roth Mkm assumed coverage on CG Oncology in a report on Tuesday, August 27th. They issued a "buy" rating and a $65.00 price target on the stock. Royal Bank of Canada restated an "outperform" rating and set a $66.00 price objective on shares of CG Oncology in a research report on Friday, December 6th. HC Wainwright reaffirmed a "buy" rating and issued a $75.00 target price on shares of CG Oncology in a research report on Friday, December 6th. Finally, UBS Group began coverage on shares of CG Oncology in a report on Thursday, October 24th. They set a "buy" rating and a $60.00 price target for the company. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $63.88.

CG Oncology Trading Down 9.0 %

Shares of NASDAQ:CGON traded down $2.86 on Thursday, hitting $28.87. The company's stock had a trading volume of 804,248 shares, compared to its average volume of 643,537. CG Oncology, Inc. has a 12 month low of $25.77 and a 12 month high of $50.23. The stock's 50-day moving average is $35.39 and its two-hundred day moving average is $34.91.

CG Oncology (NASDAQ:CGON - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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. Equities analysts predict that CG Oncology, Inc. will post -1.31 earnings per share for the current year.

Insider Activity at CG Oncology

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the business's stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $34.54, for a total value of $34,540.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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.