ABG WTT Global Life Science Capital Partners GP Ltd Sells 419,975 Shares of CG Oncology, Inc. (NASDAQ:CGON)

ABG WTT Global Life Science Capital Partners GP Ltd lowered its position in CG Oncology, Inc. (NASDAQ:CGON) by 45.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 495,526 shares of the company’s stock after selling 419,975 shares during the period. CG Oncology accounts for about 92.9% of ABG WTT Global Life Science Capital Partners GP Ltd’s holdings, making the stock its biggest position. ABG WTT Global Life Science Capital Partners GP Ltd owned approximately 0.74% of CG Oncology worth $18,696,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CGON. MetLife Investment Management LLC grew its holdings in shares of CG Oncology by 103.2% during the third quarter. MetLife Investment Management LLC now owns 27,132 shares of the company’s stock valued at $1,024,000 after buying an additional 13,780 shares during the last quarter. BNP Paribas Financial Markets lifted its position in 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 in the last quarter. FMR LLC boosted its stake in CG Oncology by 83,581.6% during the 3rd quarter. FMR LLC now owns 145,606 shares of the company’s stock valued at $5,494,000 after purchasing an additional 145,432 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in CG Oncology by 21.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 73,149 shares of the company’s stock worth $2,760,000 after purchasing an additional 12,848 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised 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 worth $14,325,000 after purchasing an additional 202,262 shares during the last quarter. Institutional investors and hedge funds own 26.56% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on CGON shares. UBS Group initiated coverage on CG Oncology in a research report on Thursday, October 24th. They set a “buy” rating and a $60.00 target price on the stock. Roth Capital raised shares of CG Oncology to a “strong-buy” rating in a report on Tuesday, August 27th. Roth Mkm started coverage on shares of CG Oncology in a report on Tuesday, August 27th. They issued a “buy” rating and a $65.00 target price for the company. HC Wainwright restated a “buy” rating and set a $75.00 price target on shares of CG Oncology in a report on Tuesday, November 12th. Finally, Bank of America reiterated a “buy” rating and issued a $65.00 price objective on shares of CG Oncology in a research note on Tuesday, October 8th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, CG Oncology presently has an average rating of “Buy” and a consensus target price of $63.88.

CG Oncology Stock Performance

NASDAQ CGON opened at $34.10 on Thursday. CG Oncology, Inc. has a 52-week low of $25.77 and a 52-week high of $50.23. The company has a 50-day simple moving average of $36.24 and a 200 day simple moving average of $34.62.

CG Oncology (NASDAQ:CGON) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, topping 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 company had revenue of $0.04 million for the quarter, compared to analysts’ expectations of $0.30 million. As a group, analysts anticipate that CG Oncology, Inc. will post -1.31 earnings per share for the current year.

CG Oncology Company 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.