Candriam S.C.A. Takes Position in CG Oncology, Inc. $CGON

Candriam S.C.A. bought a new stake in CG Oncology, Inc. (NASDAQ:CGON) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 763,580 shares of the company’s stock, valued at approximately $19,854,000. Candriam S.C.A. owned 1.00% of CG Oncology at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Winthrop Capital Management LLC acquired a new position in shares of CG Oncology in the second quarter valued at about $38,000. CWM LLC lifted its holdings in shares of CG Oncology by 3,957.7% during the first quarter. CWM LLC now owns 2,110 shares of the company’s stock worth $52,000 after purchasing an additional 2,058 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in CG Oncology by 15.6% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,945 shares of the company’s stock valued at $77,000 after buying an additional 398 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in CG Oncology by 15.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,279 shares of the company’s stock worth $85,000 after buying an additional 433 shares during the period. Finally, KLP Kapitalforvaltning AS increased its holdings in CG Oncology by 131.4% in the 1st quarter. KLP Kapitalforvaltning AS now owns 8,100 shares of the company’s stock worth $198,000 after buying an additional 4,600 shares during the period. Institutional investors and hedge funds own 26.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CGON shares. Guggenheim assumed coverage on shares of CG Oncology in a report on Tuesday, October 7th. They issued a “buy” rating and a $90.00 price objective on the stock. Piper Sandler initiated coverage on shares of CG Oncology in a report on Monday, August 18th. They issued an “overweight” rating and a $55.00 price target on the stock. Zacks Research raised CG Oncology from a “strong sell” rating to a “hold” rating in a research report on Monday, September 1st. Jones Trading assumed coverage on CG Oncology in a research note on Monday, September 8th. They set a “buy” rating and a $50.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their target price on CG Oncology from $41.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, CG Oncology currently has a consensus rating of “Moderate Buy” and an average target price of $58.70.

CG Oncology Stock Performance

Shares of CG Oncology stock opened at $37.76 on Friday. The firm has a 50-day simple moving average of $39.39 and a two-hundred day simple moving average of $30.75. CG Oncology, Inc. has a fifty-two week low of $14.80 and a fifty-two week high of $45.56. The company has a market cap of $2.88 billion, a P/E ratio of -21.33 and a beta of 1.32.

Insiders Place Their Bets

In other CG Oncology news, Director Brian Guan-Chyun Liu purchased 1,515,151 shares of CG Oncology stock in a transaction that occurred on Thursday, September 11th. The stock was bought at an average price of $33.00 per share, with a total value of $49,999,983.00. Following the acquisition, the director owned 1,515,151 shares of the company’s stock, valued at $49,999,983. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Leonard E. Post sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $40.09, for a total value of $200,450.00. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 174,359 shares of company stock worth $5,511,784. 7.40% of the stock is owned by company insiders.

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.