Point72 Asset Management L.P. Sells 75,827 Shares of CG Oncology, Inc. (NASDAQ:CGON)

Point72 Asset Management L.P. lessened its position in shares of CG Oncology, Inc. (NASDAQ:CGON) by 40.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,410 shares of the company’s stock after selling 75,827 shares during the period. Point72 Asset Management L.P. owned about 0.17% of CG Oncology worth $3,486,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BNP Paribas Financial Markets bought a new position in shares of CG Oncology during the first quarter worth about $492,000. Capstone Investment Advisors LLC bought a new position in shares of CG Oncology during the 1st quarter worth approximately $806,000. TimesSquare Capital Management LLC acquired a new stake in shares of CG Oncology in the first quarter valued at approximately $9,837,000. Vanguard Group Inc. bought a new stake in shares of CG Oncology in the first quarter worth $97,678,000. Finally, Ameritas Investment Partners Inc. bought a new position in CG Oncology in the first quarter valued at $102,000. Institutional investors and hedge funds own 26.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CGON. Bank of America started coverage on shares of CG Oncology in a research note on Friday, June 28th. They set a “buy” rating and a $65.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $75.00 price target on shares of CG Oncology in a research report on Tuesday, September 17th. Roth Mkm started coverage on CG Oncology in a report on Tuesday, August 27th. They issued a “buy” rating and a $65.00 price objective for the company. Roth Capital upgraded shares of CG Oncology to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, Royal Bank of Canada initiated 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 for the company. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $64.43.

CG Oncology Stock Down 1.4 %

Shares of CGON stock opened at $36.40 on Thursday. CG Oncology, Inc. has a 52 week low of $25.77 and a 52 week high of $50.23. The company has a 50-day simple moving average of $35.42 and a 200 day simple moving average of $35.26.

CG Oncology (NASDAQ:CGON) last posted its earnings results on Thursday, August 8th. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.14. The firm had revenue of $0.11 million during the quarter. Equities research analysts predict that CG Oncology, Inc. will post -1.47 earnings per share for the current year.

Insider Buying and Selling at CG Oncology

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

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.