Hsbc Holdings PLC Takes Position in CG Oncology, Inc. $CGON

Key Points

• HSBC Holdings acquired 175,765 CG Oncology shares worth approximately $12.5 million, representing a 0.20% stake. Institutional investors and hedge funds collectively own 26.56% of the company.
• Insider activity was mixed: Director Brian Guan-Chyun Liu bought 371,085 shares for about $24.8 million, while Director James Mulay sold 24,165 shares for approximately $1.8 million.
• CG Oncology reported a quarterly loss of $0.90 per share, missing estimates of $0.66, despite revenue of $1.16 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $83.18, compared with a reported share price of $74.34.

Hsbc Holdings PLC acquired a new position in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 175,765 shares of the company's stock, valued at approximately $12,488,000. Hsbc Holdings PLC owned 0.20% of CG Oncology as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of CG Oncology by 623.8% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 37,834 shares of the company's stock valued at $1,571,000 after buying an additional 32,607 shares in the last quarter. Jennison Associates LLC purchased a new position in CG Oncology in the fourth quarter worth about $11,730,000. State of New Jersey Common Pension Fund D purchased a new position in CG Oncology in the fourth quarter worth about $606,000. Bank of America Corp DE increased its stake in CG Oncology by 21.8% during the first quarter. Bank of America Corp DE now owns 1,449,364 shares of the company's stock worth $98,093,000 after acquiring an additional 259,311 shares during the last quarter. Finally, Clearbridge Investments LLC increased its stake in 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 acquiring an additional 91,162 shares during the last quarter. 26.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Brian Guan-Chyun Liu purchased 371,085 shares of the firm's stock in a transaction dated Thursday, June 25th. The stock was purchased at an average price of $66.87 per share, with a total value of $24,814,453.95. Following the completion of the purchase, the director owned 1,886,236 shares of the company's stock, valued at approximately $126,132,601.32. The trade was a 24.49% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James Mulay sold 24,165 shares of the business's stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $75.16, for a total value of $1,816,241.40. Following the completion of the sale, the director owned 24,165 shares of the company's stock, valued at $1,816,241.40. The trade was a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 38,129 shares of company stock valued at $2,738,357. Corporate insiders own 4.80% of the company's stock.

CG Oncology Price Performance

CGON stock opened at $74.34 on Friday. The company has a market capitalization of $6.59 billion, a PE ratio of -27.64 and a beta of 0.23. CG Oncology, Inc. has a 12 month low of $26.22 and a 12 month high of $80.97. The firm's 50-day moving average is $73.04 and its 200 day moving average is $66.46.

CG Oncology (NASDAQ:CGON - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.90) earnings per share 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 the consensus estimate of $0.36 million. CG Oncology had a negative net margin of 3,602.68% and a negative return on equity of 25.20%. Sell-side analysts forecast that CG Oncology, Inc. will post -3.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CGON has been the subject of several analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of CG Oncology in a research note on Friday, July 17th. Wall Street Zen downgraded CG Oncology from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 8th. Royal Bank Of Canada decreased their price target on CG Oncology from $81.00 to $79.00 and set an "outperform" rating on the stock in a report on Friday, August 7th. Piper Sandler raised their price target on CG Oncology from $82.00 to $85.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. Finally, Wolfe Research assumed coverage on CG Oncology in a research report on Tuesday, May 19th. They issued a "peer perform" rating for the company. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $83.18.

CG Oncology Company 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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