PSP Research LLC Invests $552,000 in CG Oncology, Inc. $CGON

PSP Research LLC acquired a new position in shares of CG Oncology, Inc. (NASDAQ:CGON) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 13,293 shares of the company’s stock, valued at approximately $552,000. CG Oncology makes up 0.5% of PSP Research LLC’s investment portfolio, making the stock its 8th largest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in CG Oncology by 11.4% in the 3rd quarter. Vanguard Group Inc. now owns 6,577,281 shares of the company’s stock valued at $264,933,000 after acquiring an additional 670,770 shares during the period. Wellington Management Group LLP increased its holdings in shares of CG Oncology by 190.3% in the third quarter. Wellington Management Group LLP now owns 5,512,779 shares of the company’s stock valued at $222,055,000 after purchasing an additional 3,613,885 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of CG Oncology by 15.0% in the second quarter. Alliancebernstein L.P. now owns 2,164,214 shares of the company’s stock valued at $56,270,000 after purchasing an additional 281,637 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of CG Oncology by 409.9% in the second quarter. Bank of America Corp DE now owns 1,736,769 shares of the company’s stock valued at $45,156,000 after purchasing an additional 1,396,170 shares during the last quarter. Finally, Pictet Asset Management Holding SA increased its holdings in shares of CG Oncology by 2.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,349,527 shares of the company’s stock valued at $56,032,000 after purchasing an additional 30,960 shares during the last quarter. Institutional investors own 26.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CGON shares. JPMorgan Chase & Co. upped their price objective on shares of CG Oncology from $91.00 to $96.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Wolfe Research started coverage on shares of CG Oncology in a report on Tuesday. They issued a “peer perform” rating on the stock. Wall Street Zen downgraded shares of CG Oncology from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Royal Bank Of Canada upped their price objective on shares of CG Oncology from $79.00 to $81.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Finally, Wedbush increased their price objective on CG Oncology from $77.00 to $80.00 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 given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.73.

Insider Activity

In other news, Director James Mulay sold 15,600 shares of the stock in a transaction on Friday, April 17th. The stock was sold at an average price of $73.01, for a total transaction of $1,138,956.00. Following the sale, the director directly owned 15,600 shares of the company’s stock, valued at approximately $1,138,956. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 4.80% of the company’s stock.

CG Oncology Price Performance

CGON stock opened at $63.30 on Wednesday. The stock has a market capitalization of $5.58 billion, a price-to-earnings ratio of -27.17 and a beta of 0.41. The business’s fifty day moving average price is $67.14 and its two-hundred day moving average price is $54.30. CG Oncology, Inc. has a fifty-two week low of $23.65 and a fifty-two week high of $75.50.

CG Oncology (NASDAQ:CGON) last released its earnings results on Friday, May 8th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing the consensus estimate 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. Research analysts expect that CG Oncology, Inc. will post -2.89 EPS for the current year.

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.