NEOS Investment Management LLC Boosts Stake in CG Oncology, Inc. (NASDAQ:CGON)

NEOS Investment Management LLC raised its stake in shares of CG Oncology, Inc. (NASDAQ:CGON) by 10.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,329 shares of the company’s stock after acquiring an additional 817 shares during the quarter. NEOS Investment Management LLC’s holdings in CG Oncology were worth $239,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CGON. Mirae Asset Global Investments Co. Ltd. bought a new stake in CG Oncology during the fourth quarter valued at about $68,000. KLP Kapitalforvaltning AS bought a new stake in shares of CG Oncology in the 4th quarter valued at about $100,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of CG Oncology in the 3rd quarter worth approximately $241,000. Arizona State Retirement System bought a new position in shares of CG Oncology during the 4th quarter worth approximately $340,000. Finally, Teacher Retirement System of Texas purchased a new stake in CG Oncology during the fourth quarter valued at approximately $342,000. 26.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CGON. Royal Bank of Canada reaffirmed an “outperform” rating and set a $66.00 price target on shares of CG Oncology in a research report on Friday, December 6th. TD Cowen began coverage on CG Oncology in a research note on Tuesday, January 7th. They issued a “buy” rating for the company. HC Wainwright restated a “buy” rating and set a $75.00 price target on shares of CG Oncology in a research note on Monday. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $55.00 target price on shares of CG Oncology in a research note on Friday, March 7th. Nine 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, the company currently has an average rating of “Buy” and a consensus price target of $63.88.

Insider Buying and Selling at CG Oncology

In related news, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction that occurred on Monday, January 13th. The stock was 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 can be accessed through this link.

CG Oncology Trading Down 7.3 %

Shares of NASDAQ:CGON opened at $24.49 on Tuesday. CG Oncology, Inc. has a twelve month low of $23.91 and a twelve month high of $46.99. The company has a market cap of $1.86 billion, a PE ratio of -17.25 and a beta of 1.60. The company’s 50 day moving average is $27.82 and its 200 day moving average is $31.72.

CG Oncology (NASDAQ:CGON) last released its quarterly earnings data 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 business had revenue of $0.46 million during the quarter, compared to analyst estimates of $0.11 million. CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. 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.