ADAR1 Capital Management LLC Buys 72,646 Shares of CG Oncology, Inc. (NASDAQ:CGON)

ADAR1 Capital Management LLC increased its position in CG Oncology, Inc. (NASDAQ:CGON) by 50.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 215,750 shares of the company’s stock after acquiring an additional 72,646 shares during the quarter. CG Oncology comprises about 1.2% of ADAR1 Capital Management LLC’s holdings, making the stock its 17th biggest holding. ADAR1 Capital Management LLC owned 0.28% of CG Oncology worth $6,188,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CGON. Wellington Management Group LLP boosted its holdings in CG Oncology by 274.4% in the 4th quarter. Wellington Management Group LLP now owns 1,910,470 shares of the company’s stock valued at $54,792,000 after purchasing an additional 1,400,251 shares during the period. Vanguard Group Inc. boosted its stake in CG Oncology by 15.3% during the fourth quarter. Vanguard Group Inc. now owns 5,861,082 shares of the company’s stock valued at $168,096,000 after buying an additional 779,730 shares during the period. State Street Corp grew its position in CG Oncology by 73.0% during 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. Alliancebernstein L.P. increased its stake in CG Oncology by 61.6% in the 4th quarter. Alliancebernstein L.P. now owns 1,817,887 shares of the company’s stock worth $52,137,000 after acquiring an additional 692,982 shares during the last quarter. Finally, Pictet Asset Management Holding SA purchased a new stake in shares of CG Oncology in the 4th quarter valued at about $19,348,000. Hedge funds and other institutional investors own 26.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CGON. Morgan Stanley restated an “overweight” rating and issued a $55.00 price objective on shares of CG Oncology in a research report on Friday, March 7th. 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. Finally, HC Wainwright reaffirmed a “buy” rating and set a $75.00 price objective on shares of CG Oncology in a report on Monday, March 31st. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $63.88.

CG Oncology Stock Down 8.2 %

CG Oncology stock opened at $17.20 on Monday. The firm has a fifty day simple moving average of $26.99 and a two-hundred day simple moving average of $31.26. CG Oncology, Inc. has a twelve month low of $16.16 and a twelve month high of $46.99. The company has a market capitalization of $1.31 billion, a PE ratio of -12.11 and a beta of 1.24.

CG Oncology (NASDAQ:CGON) last released its 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). 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 during the quarter, compared to the consensus estimate of $0.11 million. As a group, equities analysts expect that CG Oncology, Inc. will post -1.31 earnings per share for the current fiscal year.

Insider Transactions at CG Oncology

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $29.66, for a total transaction of $29,660.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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.