CG Oncology, Inc. $CGON Stock Holdings Lessened by Avidity Partners Management LP

Avidity Partners Management LP lowered its stake in CG Oncology, Inc. (NASDAQ:CGON) by 12.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,288,948 shares of the company’s stock after selling 183,751 shares during the quarter. CG Oncology accounts for about 17.3% of Avidity Partners Management LP’s portfolio, making the stock its 2nd biggest holding. Avidity Partners Management LP’s holdings in CG Oncology were worth $87,236,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CGON. NFSG Corp purchased a new position in CG Oncology during the first quarter valued at $34,000. Comerica Bank grew its position in shares of CG Oncology by 100.4% in the fourth quarter. Comerica Bank now owns 1,028 shares of the company’s stock valued at $43,000 after purchasing an additional 515 shares during the period. LPL Financial LLC increased its stake in shares of CG Oncology by 9.8% during the fourth quarter. LPL Financial LLC now owns 6,201 shares of the company’s stock worth $257,000 after purchasing an additional 551 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of CG Oncology during the fourth quarter worth about $27,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of CG Oncology by 33.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,920 shares of the company’s stock worth $163,000 after purchasing an additional 972 shares during the last quarter. Hedge funds and other institutional investors own 26.56% of the company’s stock.

Insider Transactions at CG Oncology

In other news, Director Leonard E. Post sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $70.00, for a total value of $350,000.00. Following the completion of the sale, the director directly owned 5,000 shares in the company, valued at $350,000. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Brian Guan-Chyun Liu purchased 371,085 shares of the company’s stock in a transaction dated Thursday, June 25th. The stock was bought at an average price of $66.87 per share, with a total value of $24,814,453.95. Following the completion of the transaction, the director directly owned 1,886,236 shares of the company’s stock, valued at approximately $126,132,601.32. This represents a 24.49% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 37,129 shares of company stock worth $2,663,817 in the last ninety days. Insiders own 4.80% of the company’s stock.

CG Oncology Trading Down 2.5%

NASDAQ:CGON opened at $71.19 on Friday. The company’s 50-day moving average price is $66.06 and its 200-day moving average price is $63.30. The company has a market cap of $6.28 billion, a P/E ratio of -30.55 and a beta of 0.22. CG Oncology, Inc. has a twelve month low of $23.65 and a twelve month high of $77.00.

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on CGON. Wall Street Zen lowered shares of CG Oncology from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. HC Wainwright reissued a “buy” rating and set a $100.00 target price on shares of CG Oncology in a report on Wednesday. Weiss Ratings restated a “sell (d-)” rating on shares of CG Oncology in a research report on Friday, July 17th. Wedbush lifted their price target on CG Oncology from $77.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Finally, Truist Financial reiterated a “buy” rating and set a $82.00 price target (up from $77.00) on shares of CG Oncology in a research report on Thursday, May 14th. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $81.73.

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.