Ally Bridge Group NY LLC Acquires 88,390 Shares of CG Oncology, Inc. (NASDAQ:CGON)

Ally Bridge Group NY LLC lifted its holdings in CG Oncology, Inc. (NASDAQ:CGON) by 50.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 263,266 shares of the company’s stock after purchasing an additional 88,390 shares during the quarter. CG Oncology comprises 5.3% of Ally Bridge Group NY LLC’s holdings, making the stock its 4th biggest position. Ally Bridge Group NY LLC owned approximately 0.39% of CG Oncology worth $9,933,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in CG Oncology in the third quarter valued at approximately $241,000. MetLife Investment Management LLC raised 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 worth $1,024,000 after acquiring an additional 13,780 shares during the period. 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% in the 3rd quarter. FMR LLC now owns 145,606 shares of the company’s stock worth $5,494,000 after purchasing an additional 145,432 shares during the period. Finally, 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. 26.56% of the stock is owned by institutional investors.

CG Oncology Stock Up 0.6 %

NASDAQ CGON opened at $34.10 on Thursday. The firm’s fifty day moving average price is $36.24 and its two-hundred day moving average price is $34.62. CG Oncology, Inc. has a 1 year low of $25.77 and a 1 year high of $50.23.

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. The business had revenue of $0.04 million during the quarter, compared to analysts’ expectations of $0.30 million. CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. On average, analysts anticipate that CG Oncology, Inc. will post -1.31 earnings per share for the current year.

Analysts Set New Price Targets

CGON has been the topic of a number of research reports. Roth Capital upgraded CG Oncology to a “strong-buy” rating in a report on Tuesday, August 27th. HC Wainwright restated a “buy” rating and issued a $75.00 target price on shares of CG Oncology in a research note on Tuesday, November 12th. Royal Bank of Canada initiated coverage on shares of CG Oncology in a research note on Monday, September 23rd. They set an “outperform” rating and a $66.00 price target for the company. 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 price objective on the stock. Finally, Bank of America restated a “buy” rating and set a $65.00 target price on shares of CG Oncology in a report on Tuesday, October 8th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CG Oncology presently has a consensus rating of “Buy” and an average price target of $63.88.

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.