Massachusetts Financial Services Co. MA Trims Stock Position in CG Oncology, Inc. $CGON

Key Points

• Massachusetts Financial Services Co. MA trimmed its stake by 18.5%, selling 45,831 shares to hold 201,918 shares of CG Oncology (about 0.25% of the company) valued at $8.38 million at quarter-end.
• Several large institutions increased positions—Wellington, Vanguard, Bank of America and others own multi‑million share stakes—leaving hedge funds and institutional investors with 26.56% ownership of the stock.
• Analyst sentiment is largely positive (11 Buys, 1 Hold, 1 Sell) with a consensus "Moderate Buy" and $75 target

Massachusetts Financial Services Co. MA lowered its stake in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 18.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 201,918 shares of the company's stock after selling 45,831 shares during the period. Massachusetts Financial Services Co. MA owned about 0.25% of CG Oncology worth $8,384,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Wellington Management Group LLP grew its position in shares of CG Oncology by 190.3% during the 3rd quarter. Wellington Management Group LLP now owns 5,512,779 shares of the company's stock valued at $222,055,000 after acquiring an additional 3,613,885 shares during the period. Bank of America Corp DE grew its position in shares of CG Oncology by 409.9% during 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. Vanguard Group Inc. grew its position in shares of CG Oncology by 11.4% during the 3rd quarter. Vanguard Group Inc. now owns 6,577,281 shares of the company's stock valued at $264,933,000 after acquiring an additional 670,770 shares during the period. Millennium Management LLC grew its position in shares of CG Oncology by 139.4% during the 1st quarter. Millennium Management LLC now owns 596,056 shares of the company's stock valued at $14,597,000 after acquiring an additional 347,055 shares during the period. Finally, Alliancebernstein L.P. grew its position in shares of CG Oncology by 15.0% during the 2nd quarter. Alliancebernstein L.P. now owns 2,164,214 shares of the company's stock valued at $56,270,000 after acquiring an additional 281,637 shares during the period. Hedge funds and other institutional investors own 26.56% of the company's stock.

Insider Buying and Selling

In related news, Director James Mulay sold 1,964 shares of the company's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $63.50, for a total value of $124,714.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 7.40% of the company's stock.

Analyst Ratings Changes

CGON has been the topic of a number of analyst reports. Morgan Stanley set a $93.00 target price on CG Oncology in a research report on Friday, January 9th. HC Wainwright raised their target price on CG Oncology from $80.00 to $100.00 and gave the company a "buy" rating in a research report on Tuesday, April 7th. Piper Sandler raised their target price on CG Oncology from $55.00 to $70.00 and gave the company an "overweight" rating in a research report on Friday, January 16th. Truist Financial raised their target price on CG Oncology from $66.00 to $75.00 and gave the company a "buy" rating in a research report on Tuesday, February 10th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of CG Oncology in a research report on Wednesday, January 21st. Eleven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $75.00.

CG Oncology Price Performance

Shares of CG Oncology stock opened at $66.34 on Friday. The stock has a market cap of $5.60 billion, a P/E ratio of -32.05 and a beta of 0.70. The stock's 50 day simple moving average is $61.86 and its 200-day simple moving average is $50.21. CG Oncology, Inc. has a 1-year low of $19.91 and a 1-year high of $71.90.

CG Oncology (NASDAQ:CGON - Get Free Report) last issued its earnings results on Friday, February 27th. The company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.61) by $0.10. The company had revenue of $2.32 million for the quarter. As a group, research analysts expect that CG Oncology, Inc. will post -1.31 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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