Mangrove Partners IM LLC Grows Position in CG Oncology, Inc. $CGON

Mangrove Partners IM LLC increased its holdings in CG Oncology, Inc. (NASDAQ:CGON) by 21.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 671,692 shares of the company’s stock after purchasing an additional 116,575 shares during the period. CG Oncology comprises about 2.3% of Mangrove Partners IM LLC’s portfolio, making the stock its 19th largest holding. Mangrove Partners IM LLC’s holdings in CG Oncology were worth $27,056,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. AQR Capital Management LLC bought a new position in CG Oncology during the 1st quarter valued at about $475,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of CG Oncology by 18.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,522 shares of the company’s stock valued at $876,000 after acquiring an additional 5,442 shares during the last quarter. Millennium Management LLC grew its stake in shares of CG Oncology by 139.4% in the first quarter. Millennium Management LLC now owns 596,056 shares of the company’s stock worth $14,597,000 after acquiring an additional 347,055 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of CG Oncology by 42.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 179,363 shares of the company’s stock worth $4,393,000 after acquiring an additional 53,461 shares during the period. Finally, Profund Advisors LLC raised its holdings in shares of CG Oncology by 12.2% during the second quarter. Profund Advisors LLC now owns 16,985 shares of the company’s stock valued at $442,000 after purchasing an additional 1,841 shares during the last quarter. Hedge funds and other institutional investors own 26.56% of the company’s stock.

Insiders Place Their Bets

In other news, Director James Mulay sold 11,145 shares of CG Oncology stock in a transaction on Friday, January 9th. The shares were sold at an average price of $52.47, for a total transaction of $584,778.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 7.40% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Wedbush started coverage on shares of CG Oncology in a research report on Thursday, December 11th. They set an “outperform” rating and a $70.00 price objective on the stock. Royal Bank Of Canada lifted their target price on shares of CG Oncology from $61.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. HC Wainwright boosted their target price on shares of CG Oncology from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Truist Financial increased their price target on CG Oncology from $66.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. Finally, Piper Sandler raised their price target on CG Oncology from $55.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, CG Oncology has a consensus rating of “Moderate Buy” and a consensus target price of $69.00.

CG Oncology Stock Up 2.1%

Shares of NASDAQ:CGON opened at $64.29 on Friday. The firm’s 50 day moving average price is $54.66 and its 200-day moving average price is $44.58. CG Oncology, Inc. has a twelve month low of $14.80 and a twelve month high of $64.70. The stock has a market capitalization of $5.43 billion, a PE ratio of -31.06 and a beta of 1.18.

CG Oncology (NASDAQ:CGON) last announced its earnings results on Friday, February 27th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.10. The business had revenue of $2.32 million for the quarter. Analysts expect that CG Oncology, Inc. will post -1.31 earnings per share for the current fiscal year.

CG Oncology Company 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.