Zimmer Partners LP Invests $287,000 in CG Oncology, Inc. (NASDAQ:CGON)

Zimmer Partners LP bought a new stake in CG Oncology, Inc. (NASDAQ:CGON) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,000 shares of the company’s stock, valued at approximately $287,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in CG Oncology in the fourth quarter worth $68,000. KLP Kapitalforvaltning AS bought a new stake in shares of CG Oncology during the 4th quarter worth $100,000. Federated Hermes Inc. purchased a new position in shares of CG Oncology in the 4th quarter worth about $172,000. Meeder Asset Management Inc. purchased a new position in shares of CG Oncology in the 4th quarter worth about $189,000. Finally, NEOS Investment Management LLC grew 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 buying an additional 817 shares during the period. Hedge funds and other institutional investors own 26.56% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on CGON shares. HC Wainwright reaffirmed a “buy” rating and issued a $75.00 price objective on shares of CG Oncology in a research report on Monday, April 28th. Royal Bank of Canada raised their price target on shares of CG Oncology from $66.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 29th. JPMorgan Chase & Co. began 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. Scotiabank began coverage on CG Oncology in a report on Wednesday, April 16th. They set a “sector perform” rating and a $23.00 price objective for the company. Finally, Morgan Stanley decreased their target price on CG Oncology from $55.00 to $52.00 and set an “overweight” rating for the company in a research report on Monday. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, CG Oncology has an average rating of “Buy” and an average price target of $58.22.

CG Oncology Price Performance

Shares of CGON stock opened at $26.56 on Wednesday. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of -17.59 and a beta of 1.08. The company’s fifty day simple moving average is $23.37 and its two-hundred day simple moving average is $27.98. CG Oncology, Inc. has a 1 year low of $14.80 and a 1 year high of $40.47.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings results 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 analysts’ expectations of $0.53 million. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. Equities research analysts anticipate that CG Oncology, Inc. will post -1.31 EPS for the current year.

Insiders Place Their Bets

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $30.76, for a total value of $30,760.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 7.40% of the stock is owned by corporate insiders.

CG Oncology 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.