BlackRock Inc. Buys New Shares in CG Oncology, Inc. $CGON

BlackRock Inc. bought a new position in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 6,256,288 shares of the company's stock, valued at approximately $444,509,000. BlackRock Inc. owned approximately 7.09% of CG Oncology at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CGON. Wellington Management Group LLP increased its position in shares of CG Oncology by 190.3% in the 3rd quarter. Wellington Management Group LLP now owns 5,512,779 shares of the company's stock valued at $222,055,000 after purchasing an additional 3,613,885 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in CG Oncology by 116.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,443,144 shares of the company's stock valued at $142,961,000 after buying an additional 1,854,386 shares during the last quarter. Seven Fleet Capital Management LP purchased a new position in CG Oncology in the fourth quarter valued at $62,909,000. Bank of America Corp DE raised 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 buying an additional 1,396,170 shares in the last quarter. Finally, State Street Corp lifted its holdings in CG Oncology by 46.4% during the 4th quarter. State Street Corp now owns 2,996,695 shares of the company's stock worth $124,423,000 after buying an additional 950,028 shares during the last quarter. Hedge funds and other institutional investors own 26.56% of the company's stock.

Analysts Set New Price Targets

CGON has been the topic of a number of recent analyst reports. Truist Financial increased their price objective on CG Oncology from $82.00 to $85.00 and gave the company a "buy" rating in a report on Friday, August 7th. Royal Bank Of Canada lowered 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, August 7th. Piper Sandler raised their price objective on shares of CG Oncology from $82.00 to $85.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Wedbush boosted 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. Finally, HC Wainwright restated a "buy" rating and issued a $100.00 target price on shares of CG Oncology in a report on Wednesday, July 29th. Eleven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $83.18.

CG Oncology Stock Performance

Shares of NASDAQ:CGON opened at $78.23 on Tuesday. CG Oncology, Inc. has a one year low of $25.25 and a one year high of $80.97. The stock has a market capitalization of $6.93 billion, a price-to-earnings ratio of -29.08 and a beta of 0.23. The company has a 50-day simple moving average of $71.69 and a 200-day simple moving average of $65.80.

CG Oncology (NASDAQ:CGON - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 forecast that CG Oncology, Inc. will post -3.27 EPS for the current fiscal year.

Insider Buying and Selling at CG Oncology

In related news, Director Brian Guan-Chyun Liu purchased 371,085 shares of the business's stock in a transaction dated Thursday, June 25th. The stock was acquired at an average price of $66.87 per share, for a total transaction of $24,814,453.95. Following the completion of the purchase, the director directly owned 1,886,236 shares of the company's stock, valued at $126,132,601.32. This trade represents a 24.49% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Leonard E. Post sold 5,000 shares of the stock in a transaction 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 sale, the director directly owned 5,000 shares of the company's stock, valued at approximately $350,000. This represents 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 ninety days, insiders have sold 38,129 shares of company stock worth $2,738,357. 4.80% of the stock is currently owned by insiders.

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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