CG Oncology, Inc. $CGON Stake Increased by HighVista Strategies LLC

HighVista Strategies LLC lifted its holdings in CG Oncology, Inc. (NASDAQ:CGON) by 152.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,040 shares of the company’s stock after buying an additional 15,712 shares during the period. HighVista Strategies LLC’s holdings in CG Oncology were worth $1,049,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CGON. Vanguard Group Inc. lifted 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 worth $264,933,000 after acquiring an additional 670,770 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of CG Oncology by 190.3% in the 3rd 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 period. Alliancebernstein L.P. increased its holdings in shares of CG Oncology by 15.0% in the 2nd 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 period. Bank of America Corp DE lifted its position 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 worth $45,156,000 after purchasing an additional 1,396,170 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of CG Oncology by 12.7% in the second quarter. Franklin Resources Inc. now owns 1,486,839 shares of the company’s stock worth $38,658,000 after purchasing an additional 167,905 shares in the last quarter. Hedge funds and other institutional investors own 26.56% of the company’s stock.

CG Oncology Stock Up 2.5%

Shares of CGON opened at $65.90 on Tuesday. The firm has a market cap of $5.56 billion, a price-to-earnings ratio of -31.84 and a beta of 1.17. The company’s fifty day moving average is $55.18 and its 200-day moving average is $45.11. CG Oncology, Inc. has a 12 month low of $14.80 and a 12 month high of $66.81.

CG Oncology (NASDAQ:CGON) last released its quarterly earnings data 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 during the quarter. As a group, research analysts predict that CG Oncology, Inc. will post -1.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CG Oncology news, Director James Mulay sold 11,145 shares of the business’s stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $52.47, for a total value of $584,778.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Wall Street Analyst Weigh In

CGON has been the topic of a number of research analyst reports. Royal Bank Of Canada boosted their price objective on shares of CG Oncology from $61.00 to $73.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. Morgan Stanley set a $93.00 target price on shares of CG Oncology in a research report on Friday, January 9th. The Goldman Sachs Group restated a “buy” rating and set a $82.00 price target on shares of CG Oncology in a report on Monday, January 12th. Piper Sandler upped their price target on shares of CG Oncology from $55.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of CG Oncology in a report on Wednesday, January 21st. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, CG Oncology has an average rating of “Moderate Buy” and a consensus target price of $69.00.

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.