Persistent Asset Partners Ltd Makes New $512,000 Investment in CG Oncology, Inc. $CGON

Persistent Asset Partners Ltd acquired a new position in shares of CG Oncology, Inc. (NASDAQ:CGON) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 12,343 shares of the company’s stock, valued at approximately $512,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in CG Oncology by 11.4% during the 3rd quarter. Vanguard Group Inc. now owns 6,577,281 shares of the company’s stock worth $264,933,000 after acquiring an additional 670,770 shares in the last quarter. Wellington Management Group LLP grew its holdings in CG Oncology by 190.3% during the 3rd quarter. Wellington Management Group LLP now owns 5,512,779 shares of the company’s stock worth $222,055,000 after acquiring an additional 3,613,885 shares in the last quarter. State Street Corp grew its holdings in CG Oncology by 46.4% during the 4th quarter. State Street Corp now owns 2,996,695 shares of the company’s stock worth $124,423,000 after acquiring an additional 950,028 shares in the last quarter. Alliancebernstein L.P. grew its holdings in CG Oncology by 15.0% during the 2nd quarter. Alliancebernstein L.P. now owns 2,164,214 shares of the company’s stock worth $56,270,000 after acquiring an additional 281,637 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in CG Oncology by 409.9% during the 2nd quarter. Bank of America Corp DE now owns 1,736,769 shares of the company’s stock worth $45,156,000 after acquiring an additional 1,396,170 shares in the last quarter. 26.56% of the stock is owned by institutional investors and hedge funds.

CG Oncology Stock Performance

NASDAQ CGON opened at $60.28 on Wednesday. CG Oncology, Inc. has a one year low of $23.65 and a one year high of $75.50. The company has a 50-day simple moving average of $64.74 and a 200-day simple moving average of $56.84. The firm has a market capitalization of $5.32 billion, a PE ratio of -25.87 and a beta of 0.31.

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on CGON shares. HC Wainwright reissued a “buy” rating and set a $100.00 price objective on shares of CG Oncology in a report on Monday, May 18th. JPMorgan Chase & Co. raised their price objective on shares of CG Oncology from $91.00 to $96.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Wall Street Zen lowered shares of CG Oncology from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Wolfe Research started coverage on shares of CG Oncology in a report on Tuesday, May 19th. They issued a “peer perform” rating for the company. Finally, Royal Bank Of Canada lifted their price target 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. Eleven 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.73.

Insider Activity

In other news, Director James Mulay sold 15,600 shares of CG Oncology stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $73.01, for a total value of $1,138,956.00. Following the completion of the transaction, the director directly owned 15,600 shares of the company’s stock, valued at approximately $1,138,956. The trade was a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $54.50, for a total transaction of $54,500.00. Following the completion of the transaction, the director directly owned 1,000 shares of the company’s stock, valued at $54,500. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 18,564 shares of company stock valued at $1,311,532 over the last ninety days. Company 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.