Point72 Asset Management L.P. Has $28.15 Million Holdings in CG Oncology, Inc. (NASDAQ:CGON)

Point72 Asset Management L.P. increased its position in shares of CG Oncology, Inc. (NASDAQ:CGON) by 575.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 746,063 shares of the company’s stock after buying an additional 635,653 shares during the period. Point72 Asset Management L.P.’s holdings in CG Oncology were worth $28,149,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Amalgamated Bank raised its position in shares of CG Oncology by 107.6% in the 3rd quarter. Amalgamated Bank now owns 1,621 shares of the company’s stock worth $61,000 after acquiring an additional 840 shares in the last quarter. California State Teachers Retirement System acquired a new stake in CG Oncology during the first quarter worth approximately $103,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in CG Oncology in the third quarter worth approximately $241,000. Profund Advisors LLC acquired a new position in CG Oncology in the second quarter valued at approximately $300,000. Finally, HighVista Strategies LLC bought a new position in shares of CG Oncology during the 3rd quarter worth approximately $594,000. Institutional investors and hedge funds own 26.56% of the company’s stock.

CG Oncology Trading Down 6.5 %

CGON stock opened at $33.56 on Friday. The business has a 50-day simple moving average of $35.84 and a two-hundred day simple moving average of $34.84. CG Oncology, Inc. has a 52-week low of $25.77 and a 52-week high of $50.23.

CG Oncology (NASDAQ:CGON) last posted its earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.06. CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. The company had revenue of $0.04 million for the quarter, compared to analyst estimates of $0.30 million. On average, equities research analysts anticipate that CG Oncology, Inc. will post -1.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. UBS Group started coverage on shares of CG Oncology in a research note on Thursday, October 24th. They issued a “buy” rating and a $60.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and issued a $75.00 price target on shares of CG Oncology in a research note on Tuesday, November 12th. Bank of America reissued a “buy” rating and set a $65.00 price objective on shares of CG Oncology in a research report on Tuesday, October 8th. Roth Capital raised CG Oncology to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, Royal Bank of Canada started coverage on CG Oncology in a report on Monday, September 23rd. They issued an “outperform” rating and a $66.00 price target on the stock. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, CG Oncology presently has an average rating of “Buy” and a consensus price target of $63.88.

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.