CenterBook Partners LP Sells 73,188 Shares of CG Oncology, Inc. (NASDAQ:CGON)

CenterBook Partners LP cut its stake in CG Oncology, Inc. (NASDAQ:CGON) by 23.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 236,108 shares of the company’s stock after selling 73,188 shares during the quarter. CenterBook Partners LP owned 0.31% of CG Oncology worth $6,772,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of CG Oncology during the 4th quarter valued at about $68,000. KLP Kapitalforvaltning AS bought a new stake in shares of CG Oncology during the fourth quarter valued at approximately $100,000. Federated Hermes Inc. bought a new stake in shares of CG Oncology in the fourth quarter worth about $172,000. Meeder Asset Management Inc. purchased a new position in shares of CG Oncology in the fourth quarter valued at $189,000. Finally, NEOS Investment Management LLC lifted its position in CG Oncology by 10.9% during the fourth quarter. NEOS Investment Management LLC now owns 8,329 shares of the company’s stock valued at $239,000 after purchasing an additional 817 shares during the last quarter. Hedge funds and other institutional investors own 26.56% of the company’s stock.

CG Oncology Stock Performance

CGON opened at $15.59 on Wednesday. The company has a fifty day moving average of $26.13 and a two-hundred day moving average of $30.83. CG Oncology, Inc. has a fifty-two week low of $15.39 and a fifty-two week high of $46.99. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -10.98 and a beta of 1.24.

CG Oncology (NASDAQ:CGON) last released its earnings results on Tuesday, March 25th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.11). The company 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, equities research analysts forecast that CG Oncology, Inc. will post -1.31 earnings per share for the current year.

Insider Activity

In other news, Director Leonard E. Post sold 1,000 shares of the company’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $29.66, for a total transaction of $29,660.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CGON shares. HC Wainwright restated a “buy” rating and issued a $75.00 price target on shares of CG Oncology in a research report on Monday, March 31st. Morgan Stanley restated an “overweight” rating and set a $55.00 price objective on shares of CG Oncology in a report on Friday, March 7th. Finally, TD Cowen began coverage on shares of CG Oncology in a research note on Tuesday, January 7th. They set a “buy” rating for the company. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently 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.