CG Oncology, Inc. $CGON Shares Bought by Jennison Associates LLC

Jennison Associates LLC boosted its stake in shares of CG Oncology, Inc. (NASDAQ:CGON) by 68.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 476,136 shares of the company’s stock after purchasing an additional 193,630 shares during the period. Jennison Associates LLC owned approximately 0.54% of CG Oncology worth $32,225,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CGON. Wellington Management Group LLP raised 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 worth $222,055,000 after buying an additional 3,613,885 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of CG Oncology by 116.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,443,144 shares of the company’s stock valued at $142,961,000 after buying an additional 1,854,386 shares during the last quarter. Seven Fleet Capital Management LP acquired a new position in shares of CG Oncology in the 4th quarter valued at $62,909,000. Bank of America Corp DE increased its position in shares of CG Oncology by 409.9% in the 2nd quarter. Bank of America Corp DE now owns 1,736,769 shares of the company’s stock valued at $45,156,000 after acquiring an additional 1,396,170 shares during the period. Finally, State Street Corp raised its stake in CG Oncology by 46.4% in 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 during the last quarter. Institutional investors and hedge funds own 26.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on CGON shares. JPMorgan Chase & Co. lifted their price target on CG Oncology from $91.00 to $96.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Royal Bank Of Canada raised their price objective on CG Oncology from $79.00 to $81.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. HC Wainwright reaffirmed a “buy” rating and set a $100.00 target price on shares of CG Oncology in a report on Monday, May 18th. Wedbush upped their target price on CG Oncology from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Finally, Truist Financial reiterated a “buy” rating and issued a $82.00 price target (up from $77.00) on shares of CG Oncology in a report on Thursday, May 14th. 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $81.73.

CG Oncology Stock Performance

NASDAQ:CGON opened at $70.19 on Tuesday. The firm’s fifty day moving average is $65.29 and its two-hundred day moving average is $61.65. The firm has a market cap of $6.19 billion, a price-to-earnings ratio of -30.12 and a beta of 0.22. CG Oncology, Inc. has a one year low of $23.65 and a one year high of $77.00.

CG Oncology (NASDAQ:CGON) last released its quarterly earnings data on Friday, May 8th. The company reported ($0.71) earnings per share for the quarter, missing analysts’ consensus estimates 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, equities research analysts predict that CG Oncology, Inc. will post -2.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director James Mulay sold 24,165 shares of CG Oncology stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $75.16, for a total transaction of $1,816,241.40. Following the completion of the transaction, the director directly owned 24,165 shares in the company, valued at approximately $1,816,241.40. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Leonard E. Post sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $70.00, for a total value of $350,000.00. Following the completion of the transaction, the director directly owned 5,000 shares of the company’s stock, valued at $350,000. 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. Insiders have sold a total of 37,129 shares of company stock valued at $2,663,817 over the last ninety days. Company insiders own 4.80% of the company’s stock.

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.