Eventide Asset Management LLC Acquires Shares of 312,445 CG Oncology, Inc. $CGON

Key Points

• Eventide Asset Management disclosed a new stake in CG Oncology, buying 312,445 shares valued at about $13.0 million, or roughly 0.39% of the company.
• Other institutional investors were also active in CG Oncology, with firms like Millennium Management and UBS AM increasing holdings; overall, 26.56% of the stock is held by hedge funds and other institutions.
• Analysts remain broadly positive, with 11 Buy ratings and an average Moderate Buy rating, though the company recently reported a Q1 EPS miss and a narrower-than-expected revenue result.

Eventide Asset Management LLC acquired a new stake in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 312,445 shares of the company's stock, valued at approximately $12,972,000. Eventide Asset Management LLC owned about 0.39% of CG Oncology as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC purchased a new position in shares of CG Oncology during the 1st quarter worth approximately $475,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in CG Oncology by 18.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,522 shares of the company's stock valued at $876,000 after buying an additional 5,442 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of CG Oncology by 139.4% during the first quarter. Millennium Management LLC now owns 596,056 shares of the company's stock worth $14,597,000 after purchasing an additional 347,055 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of CG Oncology by 42.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 179,363 shares of the company's stock worth $4,393,000 after purchasing an additional 53,461 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of CG Oncology by 12.3% during the second quarter. Legal & General Group Plc now owns 44,354 shares of the company's stock worth $1,153,000 after purchasing an additional 4,847 shares during the last quarter. 26.56% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other CG Oncology news, Director James Mulay sold 15,600 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the director directly owned 15,600 shares in the company, valued at $1,138,956. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Leonard E. Post sold 1,000 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $54.50, for a total value of $54,500.00. Following the sale, the director owned 1,000 shares of the company's stock, valued at $54,500. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 4.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CGON shares. HC Wainwright reiterated a "buy" rating and issued a $100.00 target price on shares of CG Oncology in a report on Monday, May 18th. Wolfe Research started coverage on CG Oncology in a report on Tuesday, May 19th. They issued a "peer perform" rating on the stock. Wedbush lifted 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. Royal Bank Of Canada raised their price objective on CG Oncology from $79.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, May 11th. Finally, Wall Street Zen lowered CG Oncology from a "hold" rating to a "sell" rating in a research report on Saturday, April 25th. Eleven equities 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 company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $81.73.

CG Oncology Stock Performance

NASDAQ:CGON opened at $59.56 on Monday. The firm has a market capitalization of $5.25 billion, a PE ratio of -25.56 and a beta of 0.31. The stock has a 50 day moving average of $65.05 and a 200-day moving average of $56.63. 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 posted 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 predict that CG Oncology, Inc. will post -2.89 EPS 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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