First Trust Advisors LP Boosts Stake in CG Oncology, Inc. $CGON

First Trust Advisors LP increased its holdings in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 83.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 333,192 shares of the company's stock after acquiring an additional 151,394 shares during the quarter. First Trust Advisors LP owned about 0.38% of CG Oncology worth $22,550,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CGON. Whittier Trust Co. of Nevada Inc. purchased a new position in CG Oncology in the 4th quarter worth approximately $27,000. NFSG Corp acquired a new position in shares of CG Oncology during the 1st quarter worth approximately $34,000. Comerica Bank grew its position in shares of CG Oncology by 100.4% in the fourth quarter. Comerica Bank now owns 1,028 shares of the company's stock valued at $43,000 after purchasing an additional 515 shares in the last quarter. Fifth Third Bancorp acquired a new stake in shares of CG Oncology in the first quarter valued at approximately $74,000. Finally, KBC Group NV acquired a new stake in shares of CG Oncology in the first quarter valued at approximately $78,000. Hedge funds and other institutional investors own 26.56% of the company's stock.

CG Oncology Stock Performance

CGON stock opened at $69.12 on Thursday. The firm has a market cap of $6.10 billion, a PE ratio of -29.67 and a beta of 0.22. The firm's 50 day moving average price is $65.75 and its 200-day moving average price is $63.11. CG Oncology, Inc. has a one year low of $23.65 and a one year high of $77.00.

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

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Royal Bank Of Canada lifted their price objective on CG Oncology from $79.00 to $81.00 and gave the stock an "outperform" rating in a research report on Monday, May 11th. JPMorgan Chase & Co. raised their target price on CG Oncology from $91.00 to $96.00 and gave the stock an "overweight" rating in a research note on Monday, May 11th. Wedbush raised their target price on CG Oncology from $77.00 to $80.00 and gave the stock an "outperform" rating in a research note on Monday, May 11th. Truist Financial reiterated a "buy" rating and set a $82.00 price target (up from $77.00) on shares of CG Oncology in a report on Thursday, May 14th. Finally, Wall Street Zen cut shares of CG Oncology from a "hold" rating to a "sell" rating in a research report on Saturday, April 25th. 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's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $81.73.

Insider Activity

In related news, Director Leonard E. Post sold 5,000 shares of the firm's stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $70.00, for a total transaction of $350,000.00. Following the completion of the sale, the director directly owned 5,000 shares of the company's stock, valued at approximately $350,000. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brian Guan-Chyun Liu acquired 371,085 shares of the business's stock in a transaction that occurred on Thursday, June 25th. The shares were acquired at an average cost 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 in the company, valued at approximately $126,132,601.32. The trade was a 24.49% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold a total of 37,129 shares of company stock valued at $2,663,817 in the last quarter. Insiders own 4.80% of the company's stock.

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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