Zimmer Partners LP Purchases Shares of 10,000 CG Oncology, Inc. (NASDAQ:CGON)

Zimmer Partners LP purchased a new stake in shares of CG Oncology, Inc. (NASDAQ:CGON) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 10,000 shares of the company’s stock, valued at approximately $287,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Decheng Capital LLC raised its stake in CG Oncology by 16.3% in the fourth quarter. Decheng Capital LLC now owns 6,371,669 shares of the company’s stock valued at $182,739,000 after purchasing an additional 892,859 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of CG Oncology by 15.3% in the 4th quarter. Vanguard Group Inc. now owns 5,861,082 shares of the company’s stock worth $168,096,000 after buying an additional 779,730 shares during the last quarter. Braidwell LP increased its holdings in shares of CG Oncology by 3.5% in the 4th quarter. Braidwell LP now owns 3,283,317 shares of the company’s stock worth $94,166,000 after buying an additional 112,442 shares during the last quarter. Foresite Capital Management VI LLC purchased a new stake in shares of CG Oncology during the 4th quarter valued at $63,712,000. Finally, Wellington Management Group LLP lifted its holdings in shares of CG Oncology by 274.4% during the 4th quarter. Wellington Management Group LLP now owns 1,910,470 shares of the company’s stock worth $54,792,000 after acquiring an additional 1,400,251 shares during the last quarter. Hedge funds and other institutional investors own 26.56% of the company’s stock.

Wall Street Analysts Forecast Growth

CGON has been the topic of a number of research analyst reports. Royal Bank of Canada increased their target price on CG Oncology from $66.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, April 29th. Scotiabank assumed coverage on CG Oncology in a research report on Wednesday, April 16th. They set a “sector perform” rating and a $23.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $75.00 price objective on shares of CG Oncology in a report on Monday, April 28th. JPMorgan Chase & Co. started coverage on CG Oncology in a research report on Friday, May 2nd. They issued an “overweight” rating and a $41.00 target price for the company. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $75.00 target price on shares of CG Oncology in a research note on Monday, April 28th. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $58.22.

Insider Transactions at CG Oncology

In related news, Director Leonard E. Post sold 1,000 shares of the company’s stock in a transaction on Monday, April 28th. The shares were sold at an average price of $30.76, for a total transaction of $30,760.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 7.40% of the company’s stock.

CG Oncology Trading Up 6.8%

NASDAQ CGON opened at $26.56 on Wednesday. The firm has a market cap of $2.02 billion, a PE ratio of -17.59 and a beta of 1.08. CG Oncology, Inc. has a 1-year low of $14.80 and a 1-year high of $40.47. The stock has a 50-day moving average of $23.37 and a 200-day moving average of $27.98.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.09). The company had revenue of $0.05 million during the quarter, compared to the consensus estimate of $0.53 million. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. As a group, equities research analysts forecast that CG Oncology, Inc. will post -1.31 earnings per share for the current fiscal year.

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.