RTW Investments LP Buys 357,142 Shares of CG Oncology, Inc. (NASDAQ:CGON)

RTW Investments LP grew its stake in shares of CG Oncology, Inc. (NASDAQ:CGON) by 26.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,701,216 shares of the company’s stock after acquiring an additional 357,142 shares during the quarter. RTW Investments LP’s holdings in CG Oncology were worth $48,791,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of CG Oncology during the fourth quarter valued at $68,000. KLP Kapitalforvaltning AS purchased a new stake in shares of CG Oncology during the fourth quarter valued at $100,000. Federated Hermes Inc. purchased a new stake in shares of CG Oncology during the fourth quarter valued at $172,000. Meeder Asset Management Inc. purchased a new position in CG Oncology in the fourth quarter worth about $189,000. Finally, NEOS Investment Management LLC boosted its position in CG Oncology by 10.9% in the fourth quarter. NEOS Investment Management LLC now owns 8,329 shares of the company’s stock worth $239,000 after purchasing an additional 817 shares during the last quarter. 26.56% of the stock is currently owned by institutional investors.

Insider Activity at CG Oncology

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

CG Oncology Stock Performance

Shares of CG Oncology stock opened at $25.35 on Friday. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of -16.79 and a beta of 1.08. The stock has a 50 day moving average price of $23.41 and a 200-day moving average price of $28.25. CG Oncology, Inc. has a one year low of $14.80 and a one year high of $40.47.

CG Oncology (NASDAQ:CGON) last announced its earnings results on Tuesday, May 13th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.09). 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 $0.05 million during the quarter, compared to analysts’ expectations of $0.53 million. Sell-side analysts predict that CG Oncology, Inc. will post -1.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CGON shares. Scotiabank initiated coverage on CG Oncology in a research note on Wednesday, April 16th. They issued a “sector perform” rating and a $23.00 price objective on the stock. Royal Bank of Canada lifted their price objective on CG Oncology from $66.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 29th. Morgan Stanley reaffirmed an “overweight” rating and issued a $55.00 price objective on shares of CG Oncology in a research note on Friday, March 7th. JPMorgan Chase & Co. assumed coverage on CG Oncology in a research note on Friday, May 2nd. They issued an “overweight” rating and a $41.00 price objective on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $75.00 price objective on shares of CG Oncology in a research note on Monday, April 28th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $58.56.

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.