51,849 Shares in CG Oncology, Inc. $CGON Purchased by Man Group plc

Man Group plc acquired a new position in CG Oncology, Inc. (NASDAQ:CGON) in the 2nd quarter, Holdings Channel reports. The firm acquired 51,849 shares of the company’s stock, valued at approximately $3,684,000.

Several other large investors have also bought and sold shares of the company. Jupiter Topco LLC purchased a new position in shares of CG Oncology during the 2nd quarter worth approximately $1,634,000. ADAR1 Capital Management LLC purchased a new position in shares of CG Oncology in the 2nd quarter valued at approximately $8,431,000. Hsbc Holdings PLC bought a new stake in shares of CG Oncology during the second quarter valued at approximately $12,488,000. Legal & General Group Plc purchased a new stake in CG Oncology in the second quarter worth $2,846,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in CG Oncology in the second quarter worth $5,766,000. 26.56% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Brian Guan-Chyun Liu bought 371,085 shares of the stock in a transaction on Thursday, June 25th. The shares were acquired at an average price of $66.87 per share, for a total transaction of $24,814,453.95. Following the purchase, the director owned 1,886,236 shares of the company’s stock, valued at approximately $126,132,601.32. The trade was a 24.49% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $350,000.00. Following 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. In the last 90 days, insiders sold 38,129 shares of company stock valued at $2,738,357. 4.80% of the stock is owned by insiders.

CG Oncology Stock Performance

Shares of NASDAQ CGON opened at $74.34 on Monday. The firm’s 50 day moving average price is $73.04 and its 200-day moving average price is $66.56. CG Oncology, Inc. has a 52-week low of $26.22 and a 52-week high of $80.97. The company has a market cap of $6.59 billion, a PE ratio of -27.64 and a beta of 0.23.

CG Oncology (NASDAQ:CGON) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.24). The business had revenue of $1.16 million during the quarter, compared to the consensus estimate of $0.36 million. CG Oncology had a negative net margin of 3,602.68% and a negative return on equity of 25.20%. On average, analysts forecast that CG Oncology, Inc. will post -3.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on the company. Wedbush raised their price objective on CG Oncology from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Wolfe Research assumed coverage on shares of CG Oncology in a research note on Tuesday, May 19th. They set a “peer perform” rating on the stock. JPMorgan Chase & Co. raised their target price on shares of CG Oncology from $91.00 to $96.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Piper Sandler boosted their price target on CG Oncology from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Finally, Royal Bank Of Canada cut their price target on CG Oncology from $81.00 to $79.00 and set an “outperform” rating on the stock in a research note on Friday, August 7th. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.18.

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.