CG Oncology, Inc. (NASDAQ:CGON) Shares Bought by Deerfield Management Company L.P. Series C

Deerfield Management Company L.P. Series C lifted its position in shares of CG Oncology, Inc. (NASDAQ:CGON) by 811.9% during the second quarter, HoldingsChannel reports. The firm owned 433,540 shares of the company’s stock after purchasing an additional 386,000 shares during the quarter. Deerfield Management Company L.P. Series C’s holdings in CG Oncology were worth $13,687,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CGON. Marshall Wace LLP acquired a new position in CG Oncology in the 2nd quarter worth $2,399,000. Yu Fan bought a new stake in shares of CG Oncology in the 2nd quarter valued at approximately $49,828,000. Profund Advisors LLC acquired a new stake in shares of CG Oncology during the second quarter worth $300,000. Ensign Peak Advisors Inc acquired a new stake in CG Oncology during the second quarter worth about $1,912,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of CG Oncology by 204.2% in the 2nd quarter. Renaissance Technologies LLC now owns 43,200 shares of the company’s stock worth $1,364,000 after purchasing an additional 29,000 shares during the last quarter. 26.56% of the stock is currently owned by hedge funds and other institutional investors.

CG Oncology Stock Down 0.9 %

Shares of CGON stock opened at $36.20 on Thursday. CG Oncology, Inc. has a fifty-two week low of $25.77 and a fifty-two week high of $50.23. The stock’s 50-day moving average is $35.26 and its two-hundred day moving average is $35.27.

CG Oncology (NASDAQ:CGON) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.14. The firm had revenue of $0.11 million during the quarter. On average, research analysts forecast that CG Oncology, Inc. will post -1.47 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on CGON. Roth Mkm started coverage on shares of CG Oncology in a report on Tuesday, August 27th. They issued a “buy” rating and a $65.00 price objective on the stock. Bank of America started coverage on CG Oncology in a report on Friday, June 28th. They issued a “buy” rating and a $65.00 price objective for the company. Royal Bank of Canada assumed coverage on shares of CG Oncology in a report on Monday. They set an “outperform” rating and a $66.00 target price for the company. HC Wainwright reissued a “buy” rating and issued a $75.00 price target on shares of CG Oncology in a research note on Tuesday, September 17th. Finally, Roth Capital raised shares of CG Oncology to a “strong-buy” rating in a research report on Tuesday, August 27th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $64.43.

Insiders Place Their Bets

In other news, Director Hong Fang Song sold 650,455 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $35.36, for a total transaction of $23,000,088.80. Following the completion of the sale, the director now owns 586,982 shares in the company, valued at approximately $20,755,683.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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.