Jennison Associates LLC lifted its holdings in CG Oncology, Inc. (NASDAQ:CGON – Free Report) by 68.5% in the 1st quarter, Holdings Channel.com reports. The firm owned 476,136 shares of the company’s stock after purchasing an additional 193,630 shares during the quarter. Jennison Associates LLC’s holdings in CG Oncology were worth $32,225,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. purchased a new position in CG Oncology during the fourth quarter worth approximately $27,000. NFSG Corp purchased a new stake in shares of CG Oncology in the first quarter valued at approximately $34,000. Comerica Bank raised its stake in shares of CG Oncology by 100.4% during the 4th quarter. Comerica Bank now owns 1,028 shares of the company’s stock worth $43,000 after buying an additional 515 shares during the period. Fifth Third Bancorp acquired a new position in shares of CG Oncology during the 1st quarter worth approximately $74,000. Finally, Picton Mahoney Asset Management purchased a new position in shares of CG Oncology during the 4th quarter valued at approximately $118,000. Institutional investors and hedge funds own 26.56% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of CG Oncology in a research note on Friday. HC Wainwright reaffirmed a “buy” rating and set a $100.00 price objective on shares of CG Oncology in a report on Monday, May 18th. Wolfe Research started coverage on shares of CG Oncology in a research report on Tuesday, May 19th. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. boosted their target price on shares of CG Oncology from $91.00 to $96.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Finally, Royal Bank Of Canada upped their price target on shares of CG Oncology from $79.00 to $81.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $81.73.
Insider Transactions at CG Oncology
In other news, Director James Mulay sold 24,165 shares of the stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $75.16, for a total value of $1,816,241.40. Following the completion of the sale, the director directly owned 24,165 shares in the company, valued at $1,816,241.40. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Leonard E. Post sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $70.00, for a total transaction of $350,000.00. Following the completion of the transaction, the director directly owned 5,000 shares in the company, valued at approximately $350,000. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 37,129 shares of company stock valued at $2,663,817 over the last 90 days. 4.80% of the stock is currently owned by corporate insiders.
CG Oncology Price Performance
Shares of NASDAQ:CGON opened at $70.19 on Tuesday. CG Oncology, Inc. has a 1 year low of $23.65 and a 1 year high of $77.00. The firm has a market capitalization of $6.19 billion, a PE ratio of -30.12 and a beta of 0.22. The business’s 50 day moving average price is $65.29 and its 200-day moving average price is $61.65.
CG Oncology (NASDAQ:CGON – Get Free Report) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.13). The company had revenue of $1.08 million during the quarter, compared to analysts’ expectations of $0.45 million. As a group, analysts expect that CG Oncology, Inc. will post -2.89 earnings per share for the current year.
CG Oncology Profile
CG Oncology, Inc (NASDAQ: CGON) is a clinical-stage biopharmaceutical company focused on the discovery and development of novel antibody-based immunotherapies for the treatment of solid tumor cancers. The company leverages a platform-driven approach to identify and optimize antibody candidates that engage key immune checkpoints and co-stimulatory pathways within the tumor microenvironment. Its pipeline encompasses multiple preclinical programs alongside early-phase clinical trials designed to assess safety, dosing and preliminary anti-tumor activity.
Headquartered in South San Francisco, California, CG Oncology conducts clinical research primarily in the United States, collaborating with leading academic medical centers and contract research organizations to advance its lead candidates.
Read More
- Five stocks we like better than CG Oncology
- The Ugliest Stocks in the Market Just Got a Very Expensive Vote of Confidence
- Is Domino’s Stock Serving Up a Buying Opportunity?
- A $1T Black Hole: SpaceX Eyes Pentagon AI to Break Free
- Why Gold Miners Could Be the Market’s Biggest Comeback Story
Want to see what other hedge funds are holding CGON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CG Oncology, Inc. (NASDAQ:CGON – Free Report).
Receive News & Ratings for CG Oncology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CG Oncology and related companies with MarketBeat.com's FREE daily email newsletter.
