Pamalican Asset Management Ltd bought a new stake in CG Oncology, Inc. (NASDAQ:CGON - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 181,582 shares of the company's stock, valued at approximately $5,208,000. CG Oncology accounts for about 2.3% of Pamalican Asset Management Ltd's holdings, making the stock its 15th biggest holding. Pamalican Asset Management Ltd owned about 0.24% of CG Oncology at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp grew its position in CG Oncology by 73.0% in the third quarter. State Street Corp now owns 1,700,653 shares of the company's stock valued at $64,166,000 after acquiring an additional 717,722 shares during the last quarter. BNP Paribas Financial Markets lifted its stake 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 valued at $1,006,000 after acquiring an additional 23,931 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of CG Oncology by 114.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 379,664 shares of the company's stock valued at $14,325,000 after buying an additional 202,262 shares during the period. JPMorgan Chase & Co. raised its holdings in CG Oncology by 59.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 31,071 shares of the company's stock valued at $1,172,000 after buying an additional 11,542 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in CG Oncology during the 4th quarter worth approximately $411,000. Institutional investors own 26.56% of the company's stock.
Insiders Place Their Bets
In related news, Director Leonard E. Post sold 1,000 shares of the firm's stock in a transaction on Monday, January 13th. The shares were sold at an average price of $29.66, for a total value of $29,660.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
CG Oncology Stock Performance
CG Oncology stock remained flat at $15.59 during trading hours on Wednesday. The company's stock had a trading volume of 436,981 shares, compared to its average volume of 687,752. The stock has a market capitalization of $1.19 billion, a P/E ratio of -10.98 and a beta of 1.24. The business's 50 day moving average price is $26.13 and its 200-day moving average price is $30.83. CG Oncology, Inc. has a fifty-two week low of $14.83 and a fifty-two week high of $46.99.
CG Oncology (NASDAQ:CGON - Get Free Report) last posted its quarterly earnings results 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). The firm had revenue of $0.46 million during the quarter, compared to the consensus estimate of $0.11 million. CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. On average, equities research analysts predict that CG Oncology, Inc. will post -1.31 earnings per share for the current year.
Analysts Set New Price Targets
A number of research firms recently weighed in on CGON. TD Cowen started coverage on CG Oncology in a report on Tuesday, January 7th. They issued a "buy" rating for the company. Morgan Stanley reissued an "overweight" rating and issued a $55.00 price target on shares of CG Oncology in a research note on Friday, March 7th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $75.00 price objective 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 given a strong buy rating to the company. Based on data from MarketBeat.com, CG Oncology currently has a consensus rating of "Buy" and a consensus target price of $63.88.
Read Our Latest Analysis on CG Oncology
CG Oncology Profile
(
Free Report)
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.
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