CenterBook Partners LP Sells 326,116 Shares of CG Oncology, Inc. $CGON

Key Points

• CenterBook Partners LP sharply reduced its CG Oncology stake by 82.5% in the fourth quarter, selling 326,116 shares and ending with 69,224 shares valued at about $2.87 million.
• Institutional ownership remains active, with firms like JPMorgan Chase, Clearbridge, and TD Asset Management increasing positions, while institutions overall own 26.56% of CG Oncology.
• Analysts are mixed but generally positive: the stock has a Moderate Buy consensus with an average price target of $81.73, even as CG Oncology recently missed EPS expectations in its latest quarterly report.

CenterBook Partners LP lowered its stake in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 82.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,224 shares of the company's stock after selling 326,116 shares during the quarter. CenterBook Partners LP owned about 0.09% of CG Oncology worth $2,874,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its position in CG Oncology by 157.5% during the fourth quarter. JPMorgan Chase & Co. now owns 586,829 shares of the company's stock worth $24,365,000 after purchasing an additional 358,950 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of CG Oncology by 14.9% during the fourth quarter. Clearbridge Investments LLC now owns 705,014 shares of the company's stock worth $29,272,000 after buying an additional 91,162 shares during the last quarter. TD Asset Management Inc lifted its holdings in shares of CG Oncology by 23.3% during the fourth quarter. TD Asset Management Inc now owns 186,448 shares of the company's stock worth $7,741,000 after buying an additional 35,272 shares during the last quarter. SBI Okasan Asset Management Co.Ltd. acquired a new position in shares of CG Oncology in the fourth quarter valued at $359,000. Finally, Intech Investment Management LLC raised its stake in shares of CG Oncology by 66.4% in the fourth quarter. Intech Investment Management LLC now owns 23,018 shares of the company's stock valued at $956,000 after purchasing an additional 9,186 shares in the last quarter. Institutional investors own 26.56% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Wolfe Research assumed coverage on CG Oncology in a research note on Tuesday, May 19th. They set a "peer perform" rating for the company. Wedbush increased their price objective on CG Oncology from $77.00 to $80.00 and gave the stock an "outperform" rating in a research note on Monday, May 11th. Royal Bank Of Canada increased their price objective on CG Oncology from $79.00 to $81.00 and gave the stock an "outperform" rating in a research note on Monday, May 11th. Wall Street Zen lowered CG Oncology from a "hold" rating to a "sell" rating in a research note on Saturday, April 25th. Finally, HC Wainwright reiterated a "buy" rating and set a $100.00 price objective on shares of CG Oncology in a research note on Monday, May 18th. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $81.73.

Insider Activity

In related news, Director James Mulay sold 15,600 shares of the firm's stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $73.01, for a total value of $1,138,956.00. Following the transaction, the director owned 15,600 shares in the company, valued at $1,138,956. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Leonard E. Post sold 1,000 shares of the firm's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $54.50, for a total value of $54,500.00. Following the completion of the transaction, the director owned 1,000 shares in the company, valued at approximately $54,500. This represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 18,564 shares of company stock worth $1,318,170. 4.80% of the stock is owned by company insiders.

CG Oncology Stock Performance

Shares of CGON stock opened at $54.40 on Tuesday. The stock's fifty day moving average is $65.73 and its 200-day moving average is $56.21. The stock has a market capitalization of $4.80 billion, a PE ratio of -23.35 and a beta of 0.31. CG Oncology, Inc. has a 52 week low of $23.65 and a 52 week high of $75.50.

CG Oncology (NASDAQ:CGON - Get Free Report) last announced its earnings results on Friday, May 8th. The company reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.13). The firm had revenue of $1.08 million during the quarter, compared to the consensus estimate of $0.45 million. As a group, analysts forecast that CG Oncology, Inc. will post -2.89 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.

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