CG Oncology, Inc. $CGON Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lessened its holdings in shares of CG Oncology, Inc. (NASDAQ:CGON) by 0.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,324,751 shares of the company’s stock after selling 46,481 shares during the quarter. Wellington Management Group LLP owned approximately 6.01% of CG Oncology worth $378,324,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Fiduciary Financial Advisors purchased a new stake in CG Oncology in the 2nd quarter valued at $28,000. NFSG Corp acquired a new position in CG Oncology in the first quarter valued at about $34,000. Comerica Bank boosted its position in shares of CG Oncology by 100.4% during the fourth quarter. Comerica Bank now owns 1,028 shares of the company’s stock worth $43,000 after buying an additional 515 shares during the period. LPL Financial LLC boosted its stake in shares of CG Oncology by 9.8% in the fourth quarter. LPL Financial LLC now owns 6,201 shares of the company’s stock valued at $257,000 after purchasing an additional 551 shares during the period. Finally, Fifth Third Bancorp purchased a new position in CG Oncology in the first quarter valued at $74,000. 26.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of CG Oncology from $91.00 to $96.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Wedbush lifted their price objective on shares of CG Oncology from $77.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Royal Bank Of Canada decreased their price objective on shares of CG Oncology from $81.00 to $79.00 and set an “outperform” rating for the company in a research report on Friday, August 7th. Wall Street Zen downgraded shares of CG Oncology from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Finally, Truist Financial increased their target price on CG Oncology from $82.00 to $85.00 and gave the company a “buy” rating in a report on Friday, August 7th. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, CG Oncology currently has an average rating of “Moderate Buy” and a consensus price target of $83.18.

Insider Activity at CG Oncology

In other CG Oncology news, Director James Mulay sold 24,165 shares of the firm’s stock in a transaction dated 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 transaction, the director owned 24,165 shares of the company’s stock, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $74.54, for a total value of $74,540.00. Following the transaction, the director directly owned 1,000 shares in the company, valued at approximately $74,540. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 38,129 shares of company stock valued at $2,738,357 over the last ninety days. Insiders own 4.80% of the company’s stock.

CG Oncology Price Performance

Shares of CG Oncology stock opened at $74.34 on Monday. CG Oncology, Inc. has a 52 week low of $26.22 and a 52 week high of $80.97. The firm’s 50 day moving average is $73.04 and its two-hundred day moving average is $66.56. The firm has a market capitalization of $6.59 billion, a P/E ratio of -27.64 and a beta of 0.23.

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

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.