282,506 Shares in CG Oncology, Inc. $CGON Acquired by Jennison Associates LLC

Key Points

• Jennison Associates LLC bought a new position of 282,506 shares of CG Oncology in Q4 (about $11.73M), representing 0.35% ownership, while major institutions like Vanguard (6.58M shares) and Wellington (5.51M) help push total institutional ownership to 26.56%.
• CG Oncology stock traded near $66.27 with a market cap of $5.83B; the company posted Q results of ($0.51) EPS (beating estimates of ($0.61)) on $2.32M revenue, and analysts hold a consensus Moderate Buy rating with an average target of $79.55.

Jennison Associates LLC purchased a new position in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 282,506 shares of the company's stock, valued at approximately $11,730,000. Jennison Associates LLC owned 0.35% of CG Oncology as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of 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 during the period. Wellington Management Group LLP boosted its holdings in shares of CG Oncology by 190.3% during the third quarter. Wellington Management Group LLP now owns 5,512,779 shares of the company's stock worth $222,055,000 after purchasing an additional 3,613,885 shares during the period. Alliancebernstein L.P. lifted its stake in 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 during the last quarter. Bank of America Corp DE lifted its stake in 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 during the last quarter. Finally, Pictet Asset Management Holding SA lifted its stake in CG Oncology by 2.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,349,527 shares of the company's stock valued at $56,032,000 after acquiring an additional 30,960 shares during the last quarter. 26.56% of the stock is currently owned by institutional investors and hedge funds.

CG Oncology Trading Down 0.7%

Shares of CG Oncology stock opened at $66.27 on Friday. The firm has a fifty day simple moving average of $65.06 and a 200-day simple moving average of $52.26. CG Oncology, Inc. has a 1-year low of $21.00 and a 1-year high of $73.56. The stock has a market capitalization of $5.83 billion, a price-to-earnings ratio of -32.01 and a beta of 0.42.

CG Oncology (NASDAQ:CGON - Get Free Report) last issued its quarterly earnings data on Friday, February 27th. The company reported ($0.51) earnings per share for the quarter, topping analysts' consensus estimates of ($0.61) by $0.10. The firm had revenue of $2.32 million during the quarter. As a group, research analysts predict that CG Oncology, Inc. will post -2.56 earnings per share for the current year.

Insider Buying and Selling at CG Oncology

In other news, Director James Mulay sold 15,600 shares of the business's stock in a transaction on Friday, April 17th. The shares were sold at an average price of $73.01, for a total value of $1,138,956.00. Following the completion of the sale, the director directly owned 15,600 shares in the company, valued at approximately $1,138,956. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 7.40% of the company's stock.

Analyst Upgrades and Downgrades

CGON has been the subject of a number of analyst reports. The Goldman Sachs Group reiterated a "buy" rating and issued a $82.00 target price on shares of CG Oncology in a research note on Monday, January 12th. JPMorgan Chase & Co. lifted their target price on shares of CG Oncology from $65.00 to $91.00 and gave the company an "overweight" rating in a research note on Friday, April 17th. Weiss Ratings reiterated a "sell (d-)" rating on shares of CG Oncology in a research note on Monday, April 20th. Piper Sandler lifted their target price on shares of CG Oncology from $55.00 to $70.00 and gave the company an "overweight" rating in a research note on Friday, January 16th. Finally, HC Wainwright lifted their target price on shares of CG Oncology from $80.00 to $100.00 and gave the company a "buy" rating in a research note on Tuesday, April 7th. Eleven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $79.55.

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.

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