Yu Fan Sells 1,414,888 Shares of CG Oncology, Inc. (NASDAQ:CGON)

Yu Fan decreased its holdings in CG Oncology, Inc. (NASDAQ:CGON) by 89.6% in the third quarter, HoldingsChannel.com reports. The firm owned 163,456 shares of the company’s stock after selling 1,414,888 shares during the quarter. CG Oncology makes up 19.0% of Yu Fan’s holdings, making the stock its 3rd biggest holding. Yu Fan’s holdings in CG Oncology were worth $6,167,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CGON. Price T Rowe Associates Inc. MD purchased a new position in CG Oncology during the first quarter valued at $43,555,000. Deerfield Management Company L.P. Series C raised its position in shares of CG Oncology by 811.9% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 433,540 shares of the company’s stock worth $13,687,000 after purchasing an additional 386,000 shares during the last quarter. Ensign Peak Advisors Inc purchased a new position in CG Oncology in the 2nd quarter valued at about $1,912,000. Vanguard Group Inc. acquired a new stake in CG Oncology in the 1st quarter worth about $97,678,000. Finally, SG Americas Securities LLC purchased a new stake in CG Oncology during the 3rd quarter worth approximately $664,000. Hedge funds and other institutional investors own 26.56% of the company’s stock.

CG Oncology Stock Performance

CG Oncology stock opened at $34.10 on Thursday. The company has a 50-day moving average price of $36.24 and a 200 day moving average price of $34.62. CG Oncology, Inc. has a 12-month low of $25.77 and a 12-month high of $50.23.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share (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 business had revenue of $0.04 million during the quarter, compared to the consensus estimate of $0.30 million. On average, equities research analysts expect that CG Oncology, Inc. will post -1.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CGON has been the topic of several research reports. UBS Group began coverage on CG Oncology in a research report on Thursday, October 24th. They issued a “buy” rating and a $60.00 target price on the stock. Bank of America reaffirmed a “buy” rating and set a $65.00 target price on shares of CG Oncology in a research note on Tuesday, October 8th. Roth Mkm started coverage on shares of CG Oncology in a research report on Tuesday, August 27th. They issued a “buy” rating and a $65.00 target price for the company. Royal Bank of Canada started coverage on shares of CG Oncology in a research note on Monday, September 23rd. They issued an “outperform” rating and a $66.00 price target on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $75.00 price objective on shares of CG Oncology in a research note on Tuesday, November 12th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $63.88.

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.