Alliancebernstein L.P. Purchases 692,982 Shares of CG Oncology, Inc. (NASDAQ:CGON)

Alliancebernstein L.P. raised its holdings in CG Oncology, Inc. (NASDAQ:CGON) by 61.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,817,887 shares of the company’s stock after buying an additional 692,982 shares during the quarter. Alliancebernstein L.P. owned 2.39% of CG Oncology worth $52,137,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. NEOS Investment Management LLC grew its holdings in CG Oncology by 10.9% in the fourth quarter. NEOS Investment Management LLC now owns 8,329 shares of the company’s stock worth $239,000 after purchasing an additional 817 shares during the period. Rhumbline Advisers boosted its holdings in CG Oncology by 2.2% in the fourth quarter. Rhumbline Advisers now owns 69,016 shares of the company’s stock worth $1,979,000 after acquiring an additional 1,458 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in CG Oncology by 16.7% in the fourth quarter. New York State Common Retirement Fund now owns 13,996 shares of the company’s stock worth $401,000 after acquiring an additional 2,000 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in CG Oncology in the fourth quarter valued at approximately $68,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of CG Oncology during the fourth quarter worth approximately $100,000. Institutional investors own 26.56% of the company’s stock.

Insider Transactions at CG Oncology

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $29.66, for a total value of $29,660.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $66.00 price target on shares of CG Oncology in a research report on Friday, December 6th. TD Cowen began coverage on shares of CG Oncology in a research report on Tuesday, January 7th. They set a “buy” rating for the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $55.00 price target on shares of CG Oncology in a research report on Friday, March 7th. Finally, HC Wainwright reiterated a “buy” rating and set a $75.00 price target on shares of CG Oncology in a research note 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.com, CG Oncology presently has a consensus rating of “Buy” and a consensus price target of $63.88.

CG Oncology Trading Down 8.2 %

CGON stock opened at $17.20 on Friday. The stock has a market cap of $1.31 billion, a P/E ratio of -12.11 and a beta of 1.24. The stock’s fifty day simple moving average is $26.99 and its two-hundred day simple moving average is $31.34. CG Oncology, Inc. has a 1-year low of $16.64 and a 1-year high of $46.99.

CG Oncology (NASDAQ:CGON) last posted its quarterly earnings results on Tuesday, March 25th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.11). The company had revenue of $0.46 million for the quarter, compared to the consensus estimate of $0.11 million. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. As a group, analysts forecast that CG Oncology, Inc. will post -1.31 earnings per share for the current fiscal year.

CG Oncology Company 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.