Hsbc Holdings PLC purchased a new position in shares of CG Oncology, Inc. (NASDAQ:CGON – Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 187,765 shares of the company’s stock, valued at approximately $12,708,000. Hsbc Holdings PLC owned about 0.21% of CG Oncology as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of CGON. Whittier Trust Co. of Nevada Inc. bought a new stake in CG Oncology in the fourth quarter worth $27,000. Comerica Bank raised its holdings in CG Oncology by 100.4% during the fourth quarter. Comerica Bank now owns 1,028 shares of the company’s stock valued at $43,000 after buying an additional 515 shares in the last quarter. Picton Mahoney Asset Management acquired a new stake in shares of CG Oncology in the fourth quarter worth about $118,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of CG Oncology by 33.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,920 shares of the company’s stock worth $163,000 after acquiring an additional 972 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of CG Oncology by 159.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,982 shares of the company’s stock worth $182,000 after acquiring an additional 4,288 shares in the last quarter. Institutional investors and hedge funds own 26.56% of the company’s stock.
Insider Activity at CG Oncology
In other CG Oncology news, Director Leonard E. Post sold 5,000 shares of the firm’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $70.00, for a total value of $350,000.00. Following the sale, the director directly owned 5,000 shares in the company, valued at $350,000. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Brian Guan-Chyun Liu acquired 371,085 shares of the business’s stock in a transaction dated Thursday, June 25th. The shares were bought at an average cost of $66.87 per share, with a total value of $24,814,453.95. Following the transaction, the director directly owned 1,886,236 shares of the company’s stock, valued at $126,132,601.32. The trade was a 24.49% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 37,129 shares of company stock worth $2,663,817 in the last ninety days. 4.80% of the stock is currently owned by insiders.
CG Oncology Stock Down 3.4%
CG Oncology (NASDAQ:CGON – Get Free Report) last issued its quarterly earnings results on Friday, May 8th. The company reported ($0.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.13). The firm had revenue of $1.08 million during the quarter, compared to the consensus estimate of $0.45 million. As a group, analysts anticipate that CG Oncology, Inc. will post -2.89 earnings per share for the current year.
Analyst Ratings Changes
CGON has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of CG Oncology in a research note on Friday, July 17th. Wall Street Zen cut CG Oncology from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. Wolfe Research started coverage on CG Oncology in a report on Tuesday, May 19th. They set a “peer perform” rating on the stock. JPMorgan Chase & Co. lifted their price target on shares of CG Oncology from $91.00 to $96.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Finally, HC Wainwright restated a “buy” rating and issued a $100.00 price objective on shares of CG Oncology in a research note on Monday, May 18th. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $81.73.
Read Our Latest Research Report on CG Oncology
About CG Oncology
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.
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