CG Oncology, Inc. (NASDAQ:CGON) Stock Position Raised by Decheng Capital LLC

Decheng Capital LLC grew its stake in shares of CG Oncology, Inc. (NASDAQ:CGON) by 16.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,371,669 shares of the company’s stock after acquiring an additional 892,859 shares during the period. CG Oncology makes up approximately 39.2% of Decheng Capital LLC’s portfolio, making the stock its largest position. Decheng Capital LLC owned about 0.08% of CG Oncology worth $182,739,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CGON. NEOS Investment Management LLC raised its stake in shares of CG Oncology by 10.9% during the 4th quarter. NEOS Investment Management LLC now owns 8,329 shares of the company’s stock worth $239,000 after buying an additional 817 shares during the last quarter. Rhumbline Advisers raised its position in shares of CG Oncology by 2.2% during the 4th quarter. Rhumbline Advisers now owns 69,016 shares of the company’s stock worth $1,979,000 after purchasing an additional 1,458 shares during the last quarter. MetLife Investment Management LLC lifted its stake in CG Oncology by 7.0% in the 4th quarter. MetLife Investment Management LLC now owns 29,026 shares of the company’s stock valued at $832,000 after buying an additional 1,894 shares in the last quarter. New York State Common Retirement Fund grew its holdings in CG Oncology by 16.7% during the 4th quarter. New York State Common Retirement Fund now owns 13,996 shares of the company’s stock valued at $401,000 after buying an additional 2,000 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in CG Oncology during the fourth quarter worth $68,000. 26.56% of the stock is currently owned by institutional investors and hedge funds.

CG Oncology Stock Performance

NASDAQ CGON opened at $22.37 on Friday. The business’s fifty day moving average is $23.61 and its two-hundred day moving average is $29.30. The stock has a market capitalization of $1.70 billion, a P/E ratio of -15.75 and a beta of 1.24. CG Oncology, Inc. has a 1 year low of $14.80 and a 1 year high of $46.99.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on CGON. TD Cowen initiated coverage on shares of CG Oncology in a research note on Tuesday, January 7th. They set a “buy” rating on the stock. HC Wainwright reissued a “buy” rating and set a $75.00 price objective on shares of CG Oncology in a research note on Monday, March 31st. Morgan Stanley reiterated an “overweight” rating and issued a $55.00 target price on shares of CG Oncology in a report on Friday, March 7th. Finally, Scotiabank began coverage on shares of CG Oncology in a research report on Wednesday, April 16th. They set a “sector perform” rating and a $23.00 price target for the company. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $59.33.

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.