SBI Okasan Asset Management Co.Ltd. Makes New Investment in CG Oncology, Inc. $CGON

SBI Okasan Asset Management Co.Ltd. purchased 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 & Exchange Commission. The institutional investor purchased 9,000 shares of the company’s stock, valued at approximately $359,000.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in CG Oncology by 11.4% during the third quarter. Vanguard Group Inc. now owns 6,577,281 shares of the company’s stock worth $264,933,000 after purchasing an additional 670,770 shares in the last quarter. Wellington Management Group LLP lifted its position 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 acquiring an additional 3,613,885 shares in the last quarter. Alliancebernstein L.P. lifted its position 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 acquiring an additional 281,637 shares in the last quarter. 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 valued at $45,156,000 after acquiring an additional 1,396,170 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of CG Oncology by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 1,511,533 shares of the company’s stock valued at $62,773,000 after acquiring an additional 38,360 shares in the last quarter. Hedge funds and other institutional investors own 26.56% of the company’s stock.

CG Oncology Stock Performance

NASDAQ:CGON opened at $62.29 on Friday. CG Oncology, Inc. has a one year low of $23.65 and a one year high of $75.50. The stock has a market cap of $5.49 billion, a PE ratio of -26.73 and a beta of 0.41. The stock has a 50 day moving average price of $66.91 and a 200 day moving average price of $55.45.

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 company had revenue of $1.08 million during the quarter, compared to analysts’ expectations of $0.45 million. As a group, analysts predict that CG Oncology, Inc. will post -2.89 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CGON. Wolfe Research began coverage on CG Oncology in a research report on Tuesday, May 19th. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. raised their target price on CG Oncology from $91.00 to $96.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Wedbush raised 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. HC Wainwright restated a “buy” rating and issued a $100.00 target price on shares of CG Oncology in a research report on Monday, May 18th. Finally, Wall Street Zen downgraded CG Oncology from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. Eleven equities 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 stock. According to MarketBeat, CG Oncology currently has an average rating of “Moderate Buy” and a consensus price target of $81.73.

Insider Transactions at CG Oncology

In other CG Oncology news, Director James Mulay sold 15,600 shares of the firm’s 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 completion of the sale, the director owned 15,600 shares of the company’s stock, valued at $1,138,956. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.80% of the stock is currently owned by company insiders.

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.