Candriam S.C.A. Sells 255,579 Shares of CG Oncology, Inc. $CGON

Key Points

• Candriam S.C.A. reduced its CG Oncology stake by 32% in the first quarter, selling 255,579 shares and leaving it with 542,036 shares valued at about $36.7 million.
• Insider selling has also been notable, with directors Leonard E. Post and James Mulay selling shares in recent months; over the last 90 days, insiders sold 28,564 shares worth about $2.0 million.
• CG Oncology shares rose to $75.24, near their 52-week high of $77.00, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $81.73.

Candriam S.C.A. cut its position in CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 32.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 542,036 shares of the company's stock after selling 255,579 shares during the quarter. Candriam S.C.A. owned 0.62% of CG Oncology worth $36,685,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP increased its stake in shares of CG Oncology by 190.3% in the third quarter. Wellington Management Group LLP now owns 5,512,779 shares of the company's stock valued at $222,055,000 after buying an additional 3,613,885 shares during the period. Price T Rowe Associates Inc. MD boosted its position in CG Oncology by 116.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,443,144 shares of the company's stock worth $142,961,000 after buying an additional 1,854,386 shares during the period. Seven Fleet Capital Management LP bought a new stake in CG Oncology during the 4th quarter worth approximately $62,909,000. Bank of America Corp DE increased its position in CG Oncology by 409.9% in the 2nd 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 period. Finally, State Street Corp increased its position in CG Oncology by 46.4% in the 4th quarter. State Street Corp now owns 2,996,695 shares of the company's stock valued at $124,423,000 after acquiring an additional 950,028 shares during the period. 26.56% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Leonard E. Post sold 5,000 shares of the company's stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $70.00, for a total value of $350,000.00. Following the sale, the director owned 5,000 shares in the company, valued at $350,000. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James Mulay sold 15,600 shares of the firm's stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $73.01, for a total transaction of $1,138,956.00. Following the completion of the transaction, 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 position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 28,564 shares of company stock worth $1,986,532. Insiders own 4.80% of the company's stock.

CG Oncology Stock Performance

Shares of NASDAQ CGON traded up $1.92 during trading on Friday, hitting $75.24. 1,042,681 shares of the company traded hands, compared to its average volume of 1,176,377. The firm has a market capitalization of $6.64 billion, a price-to-earnings ratio of -32.29 and a beta of 0.22. The business's fifty day moving average is $64.91 and its 200 day moving average is $60.19. CG Oncology, Inc. has a fifty-two week low of $23.65 and a fifty-two week high of $77.00.

CG Oncology (NASDAQ:CGON - Get Free Report) last posted its quarterly earnings results on Friday, May 8th. The company reported ($0.71) earnings per share for the quarter, missing analysts' consensus estimates of ($0.58) by ($0.13). The company had revenue of $1.08 million during the quarter, compared to analyst estimates of $0.45 million. On average, analysts predict that CG Oncology, Inc. will post -2.89 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. HC Wainwright reissued a "buy" rating and issued a $100.00 price objective on shares of CG Oncology in a research note on Monday, May 18th. JPMorgan Chase & Co. raised their price objective on CG Oncology from $91.00 to $96.00 and gave the stock an "overweight" rating in a research report on Monday, May 11th. Wedbush upped their target price on CG Oncology from $77.00 to $80.00 and gave the company an "outperform" rating in a report on Monday, May 11th. Truist Financial restated a "buy" rating and issued a $82.00 price target (up from $77.00) on shares of CG Oncology in a research report on Thursday, May 14th. Finally, Wolfe Research assumed coverage on shares of CG Oncology in a research note on Tuesday, May 19th. They set a "peer perform" rating for the company. Eleven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price 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.

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