ArrowMark Colorado Holdings LLC Purchases 34,131 Shares of CG Oncology, Inc. (NASDAQ:CGON)

ArrowMark Colorado Holdings LLC lifted its holdings in CG Oncology, Inc. (NASDAQ:CGON) by 17.4% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 230,390 shares of the company’s stock after acquiring an additional 34,131 shares during the quarter. ArrowMark Colorado Holdings LLC owned 0.34% of CG Oncology worth $8,693,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CGON. Ally Bridge Group NY LLC grew its holdings in shares of CG Oncology by 50.5% in the third quarter. Ally Bridge Group NY LLC now owns 263,266 shares of the company’s stock worth $9,933,000 after purchasing an additional 88,390 shares during the last quarter. Deerfield Management Company L.P. Series C raised its stake 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 acquiring an additional 386,000 shares during the last quarter. Ensign Peak Advisors Inc purchased a new stake in shares of CG Oncology during the second quarter worth about $1,912,000. Vanguard Group Inc. bought a new stake in shares of CG Oncology in the first quarter worth about $97,678,000. Finally, SG Americas Securities LLC purchased a new position in CG Oncology during the 3rd quarter valued at about $664,000. Institutional investors own 26.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. UBS Group initiated coverage on CG Oncology in a report on Thursday, October 24th. They issued a “buy” rating and a $60.00 price objective for the company. Bank of America reissued a “buy” rating and set a $65.00 price objective on shares of CG Oncology in a research report on Tuesday, October 8th. Royal Bank of Canada started coverage on shares of CG Oncology in a research report on Monday, September 23rd. They issued an “outperform” rating and a $66.00 target price on the stock. Roth Mkm started coverage on shares of CG Oncology in a research report on Tuesday, August 27th. They set a “buy” rating and a $65.00 price target for the company. Finally, HC Wainwright restated a “buy” rating and issued a $75.00 price objective on shares of CG Oncology in a report on Tuesday, November 12th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $63.88.

CG Oncology Stock Up 2.9 %

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

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