Bank of America Corp DE Grows Holdings in CG Oncology, Inc. $CGON

Key Points

• Bank of America increased its CG Oncology stake by 21.8% in the first quarter, bringing its holdings to 1.45 million shares worth approximately $98.1 million. Institutional investors collectively own 26.56% of the company.
• Insider activity was mixed: Director Brian Guan-Chyun Liu purchased 371,085 shares for about $24.8 million, while Director Leonard E. Post sold 5,000 shares for $350,000.
• Analysts remain broadly positive, with a “Moderate Buy” consensus and an average price target of $83.18, although CG Oncology’s latest quarterly loss of $0.90 per share missed estimates despite revenue exceeding expectations.

Bank of America Corp DE raised its holdings in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 21.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,449,364 shares of the company's stock after purchasing an additional 259,311 shares during the quarter. Bank of America Corp DE owned 1.64% of CG Oncology worth $98,093,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CGON. NFSG Corp acquired a new position in CG Oncology during the 1st quarter valued at about $34,000. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of CG Oncology in the fourth quarter worth about $27,000. Comerica Bank raised its stake in shares of CG Oncology by 100.4% in the fourth quarter. Comerica Bank now owns 1,028 shares of the company's stock worth $43,000 after purchasing an additional 515 shares during the last quarter. Fifth Third Bancorp purchased a new stake in shares of CG Oncology in the 1st quarter valued at $74,000. Finally, KBC Group NV purchased a new stake in CG Oncology in the first quarter valued at $78,000. 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 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 completion of the sale, the director owned 5,000 shares of the company's stock, valued at $350,000. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian Guan-Chyun Liu bought 371,085 shares of CG Oncology stock in a transaction dated Thursday, June 25th. The stock was acquired 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. The trade was a 24.49% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold 37,129 shares of company stock valued at $2,663,817 over the last ninety days. Insiders own 4.80% of the company's stock.

Analyst Ratings Changes

CGON has been the topic of a number of recent research reports. Truist Financial upped their target price on CG Oncology from $82.00 to $85.00 and gave the stock a "buy" rating in a research note on Friday. Weiss Ratings reissued a "sell (d-)" rating on shares of CG Oncology in a report on Friday, July 17th. Piper Sandler upped their price objective on shares of CG Oncology from $82.00 to $85.00 and gave the stock an "overweight" rating in a research report on Friday. Wall Street Zen lowered CG Oncology from a "sell" rating to a "strong sell" rating in a research note on Saturday. Finally, Royal Bank Of Canada reduced their price target on CG Oncology from $81.00 to $79.00 and set an "outperform" rating for the company in a report on Friday. Eleven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $83.18.

Trending Headlines about CG Oncology

Here are the key news stories impacting CG Oncology this week:

• Positive Sentiment: Analysts raised price targets: Piper Sandler increased its target from $82 to $85 and assigned an “overweight” rating, implying approximately 13.2% upside. Benzinga
• Positive Sentiment: Truist Financial also raised its target from $82 to $85 and upgraded its view to “buy,” citing a more constructive outlook for CG Oncology. The Fly
• Positive Sentiment: HC Wainwright maintained a “buy” rating and a $100 target. The firm modestly increased its long-term FY2030 EPS forecast to $6.88 from $6.77, reinforcing expectations for significant future earnings growth as the company advances its pipeline. MarketBeat
• Positive Sentiment: CG Oncology reported second-quarter revenue of $1.16 million, substantially above the $0.36 million consensus estimate, while also highlighting pipeline and business progress. CG Oncology Second-Quarter Results
• Neutral Sentiment: Royal Bank of Canada lowered its target from $81 to $79 but retained an “outperform” rating. The reduced target still represents roughly 5.2% potential upside and may reflect valuation calibration rather than a fundamental downgrade. Ticker Report
• Negative Sentiment: CG Oncology reported a quarterly loss of $0.90 per share, wider than the $0.66 consensus loss and the $0.54 loss recorded a year earlier. The earnings shortfall could limit gains despite strong analyst targets. Zacks Q2 Earnings Report
• Negative Sentiment: HC Wainwright reduced its FY2029 EPS estimate from $2.43 to $2.34, signaling some moderation in its intermediate-term earnings outlook, although its buy rating and $100 target remain unchanged.

CG Oncology Stock Up 0.3%

CGON stock opened at $75.10 on Friday. CG Oncology, Inc. has a 52 week low of $23.65 and a 52 week high of $77.00. The firm has a 50-day simple moving average of $67.12 and a 200-day simple moving average of $63.95. The stock has a market capitalization of $6.62 billion, a P/E ratio of -27.92 and a beta of 0.23.

CG Oncology (NASDAQ:CGON - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.90) earnings per share for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.24). CG Oncology had a negative net margin of 3,602.68% and a negative return on equity of 26.58%. The company had revenue of $1.16 million during the quarter, compared to analysts' expectations of $0.36 million. On average, analysts expect that CG Oncology, Inc. will post -2.89 earnings per share for the current 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.

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