Braidwell LP Sells 138,632 Shares of CG Oncology, Inc. (NASDAQ:CGON)

Braidwell LP cut its holdings in CG Oncology, Inc. (NASDAQ:CGON) by 4.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,170,875 shares of the company’s stock after selling 138,632 shares during the period. CG Oncology accounts for about 3.4% of Braidwell LP’s portfolio, making the stock its 5th largest holding. Braidwell LP owned approximately 4.73% of CG Oncology worth $119,637,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. purchased a new stake in CG Oncology in the first quarter valued at approximately $97,678,000. Yu Fan purchased a new stake in CG Oncology in the second quarter valued at approximately $49,828,000. Price T Rowe Associates Inc. MD purchased a new stake in CG Oncology in the first quarter valued at approximately $43,555,000. Deerfield Management Company L.P. Series C raised its position in CG Oncology by 811.9% in the second quarter. Deerfield Management Company L.P. Series C now owns 433,540 shares of the company’s stock valued at $13,687,000 after purchasing an additional 386,000 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of CG Oncology by 114.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 379,664 shares of the company’s stock worth $14,325,000 after acquiring an additional 202,262 shares during the period. 26.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Royal Bank of Canada assumed coverage on CG Oncology in a research report on Monday, September 23rd. They set an “outperform” rating and a $66.00 price objective on the stock. Roth Mkm assumed coverage on CG Oncology in a research report on Tuesday, August 27th. They set a “buy” rating and a $65.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and set a $75.00 target price on shares of CG Oncology in a research note on Tuesday, November 12th. UBS Group started coverage on shares of CG Oncology in a research note on Thursday, October 24th. They set a “buy” rating and a $60.00 target price for the company. Finally, Bank of America restated a “buy” rating and issued a $65.00 price objective on shares of CG Oncology in a research note on Tuesday, October 8th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $63.88.

CG Oncology Trading Up 0.6 %

Shares of CGON opened at $34.10 on Friday. CG Oncology, Inc. has a fifty-two week low of $25.77 and a fifty-two week high of $50.23. The firm has a 50-day simple moving average of $36.08 and a 200-day simple moving average of $34.62.

CG Oncology (NASDAQ:CGON) last announced its earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.06. The business had revenue of $0.04 million during the quarter, compared to the consensus estimate of $0.30 million. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. Equities research analysts predict that CG Oncology, Inc. will post -1.31 earnings per share for the current fiscal year.

CG Oncology 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.