CG Oncology, Inc. $CGON Shares Sold by Avidity Partners Management LP

Avidity Partners Management LP lessened its position in CG Oncology, Inc. (NASDAQ:CGON) by 8.0% in the fourth quarter, HoldingsChannel reports. The fund owned 1,472,699 shares of the company’s stock after selling 128,200 shares during the quarter. CG Oncology makes up approximately 17.6% of Avidity Partners Management LP’s holdings, making the stock its 2nd largest holding. Avidity Partners Management LP’s holdings in CG Oncology were worth $61,146,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC grew its stake in CG Oncology by 21.8% in the fourth quarter. Barclays PLC now owns 187,510 shares of the company’s stock valued at $7,785,000 after acquiring an additional 33,555 shares during the period. Marshall Wace LLP grew its stake in CG Oncology by 363.1% in the fourth quarter. Marshall Wace LLP now owns 261,110 shares of the company’s stock valued at $10,841,000 after acquiring an additional 204,733 shares during the period. The Manufacturers Life Insurance Company grew its stake in CG Oncology by 15.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 128,478 shares of the company’s stock valued at $5,202,000 after acquiring an additional 17,560 shares during the period. Schroder Investment Management Group grew its stake in CG Oncology by 93.4% in the fourth quarter. Schroder Investment Management Group now owns 281,059 shares of the company’s stock valued at $11,290,000 after acquiring an additional 135,725 shares during the period. Finally, Rafferty Asset Management LLC grew its stake in CG Oncology by 71.9% in the fourth quarter. Rafferty Asset Management LLC now owns 106,052 shares of the company’s stock valued at $4,403,000 after acquiring an additional 44,368 shares during the period. Institutional investors and hedge funds own 26.56% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on CGON shares. Wall Street Zen cut CG Oncology from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. Royal Bank Of Canada raised their price objective on CG Oncology from $79.00 to $81.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. HC Wainwright reiterated a “buy” rating and set a $100.00 price target on shares of CG Oncology in a report on Monday, May 18th. JPMorgan Chase & Co. increased their price target on CG Oncology from $91.00 to $96.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of CG Oncology in a research report on Monday, April 20th. Eleven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $81.73.

CG Oncology Trading Up 3.3%

CGON stock opened at $59.56 on Friday. The stock’s fifty day simple moving average is $65.05 and its two-hundred day simple moving average is $56.54. CG Oncology, Inc. has a 1-year low of $23.65 and a 1-year high of $75.50. The stock has a market cap of $5.25 billion, a P/E ratio of -25.56 and a beta of 0.31.

CG Oncology (NASDAQ:CGON) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.71) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.13). The business had revenue of $1.08 million during the quarter, compared to analyst estimates of $0.45 million. As a group, analysts forecast that CG Oncology, Inc. will post -2.89 earnings per share for the current fiscal year.

Insider Buying and Selling at CG Oncology

In other CG Oncology news, Director James Mulay sold 15,600 shares of the business’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $73.01, for a total value of $1,138,956.00. Following the sale, the director directly owned 15,600 shares in the company, valued at $1,138,956. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Leonard E. Post sold 1,000 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $54.50, for a total value of $54,500.00. Following the completion of the sale, the director owned 1,000 shares in the company, valued at approximately $54,500. The trade was a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 18,564 shares of company stock worth $1,318,170. Insiders own 4.80% of the company’s stock.

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.