HighVista Strategies LLC Invests $594,000 in CG Oncology, Inc. (NASDAQ:CGON)

HighVista Strategies LLC acquired a new stake in CG Oncology, Inc. (NASDAQ:CGON) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,734 shares of the company’s stock, valued at approximately $594,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. acquired a new stake in shares of CG Oncology during the first quarter worth $97,678,000. Yu Fan bought a new position in CG Oncology in the second quarter worth about $49,828,000. TimesSquare Capital Management LLC boosted its stake in CG Oncology by 27.4% in the third quarter. TimesSquare Capital Management LLC now owns 437,069 shares of the company’s stock valued at $16,491,000 after acquiring an additional 94,010 shares during the period. Deerfield Management Company L.P. Series C grew its holdings in shares of CG Oncology by 811.9% during the second quarter. Deerfield Management Company L.P. Series C now owns 433,540 shares of the company’s stock valued at $13,687,000 after purchasing an additional 386,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of CG Oncology by 114.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 379,664 shares of the company’s stock worth $14,325,000 after purchasing an additional 202,262 shares during the period. Institutional investors and hedge funds own 26.56% of the company’s stock.

CG Oncology Trading Up 2.9 %

NASDAQ CGON opened at $35.77 on Tuesday. CG Oncology, Inc. has a 12 month low of $25.77 and a 12 month high of $50.23. The company’s 50 day simple moving average is $35.94 and its 200 day simple moving average is $34.81.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.06. The company had revenue of $0.04 million for the quarter, compared to analysts’ expectations of $0.30 million. CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. As a group, analysts predict that CG Oncology, Inc. will post -1.31 EPS for the current fiscal year.

Analysts Set New Price Targets

CGON has been the subject of a number of analyst reports. UBS Group began coverage on CG Oncology in a research report on Thursday, October 24th. They set a “buy” rating and a $60.00 price objective for the company. Bank of America restated a “buy” rating and set a $65.00 price target on shares of CG Oncology in a research report on Tuesday, October 8th. HC Wainwright reiterated a “buy” rating and issued a $75.00 price objective on shares of CG Oncology in a research report on Tuesday, November 12th. Roth Capital upgraded shares of CG Oncology to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, Roth Mkm initiated coverage on CG Oncology in a report on Tuesday, August 27th. They set a “buy” rating and a $65.00 price target on the stock. Eight analysts have rated the stock with a buy rating and one has assigned 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.