State of New Jersey Common Pension Fund D Invests $606,000 in CG Oncology, Inc. $CGON

Key Points

• State of New Jersey Common Pension Fund D opened a new position in CG Oncology, buying 14,598 shares valued at about $606,000 in the fourth quarter.
• Institutional interest in CG Oncology remains strong, with major holders like Vanguard and Wellington significantly increasing their stakes; institutions now own about 26.56% of the company.
• CG Oncology’s latest quarterly results were mixed: it posted a larger-than-expected loss but revenue came in above estimates, while analysts still maintain a broadly bullish outlook with a Moderate Buy consensus and an average target price around $81.27.

State of New Jersey Common Pension Fund D acquired a new position in CG Oncology, Inc. (NASDAQ:CGON - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 14,598 shares of the company's stock, valued at approximately $606,000.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of CG Oncology by 11.4% in the 3rd quarter. Vanguard Group Inc. now owns 6,577,281 shares of the company's stock valued at $264,933,000 after buying an additional 670,770 shares during the last quarter. Wellington Management Group LLP raised its position in shares of CG Oncology by 190.3% during the third quarter. Wellington Management Group LLP now owns 5,512,779 shares of the company's stock worth $222,055,000 after acquiring an additional 3,613,885 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of CG Oncology by 15.0% in the second quarter. Alliancebernstein L.P. now owns 2,164,214 shares of the company's stock worth $56,270,000 after acquiring an additional 281,637 shares during the period. Bank of America Corp DE lifted its stake in shares of CG Oncology by 409.9% in the second quarter. Bank of America Corp DE now owns 1,736,769 shares of the company's stock worth $45,156,000 after acquiring an additional 1,396,170 shares during the period. Finally, Pictet Asset Management Holding SA boosted its holdings in CG Oncology by 2.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,349,527 shares of the company's stock valued at $56,032,000 after acquiring an additional 30,960 shares during the last quarter. 26.56% of the stock is owned by institutional investors.

CG Oncology Trading Down 0.4%

CGON opened at $69.32 on Tuesday. The company has a fifty day moving average price of $66.18 and a two-hundred day moving average price of $53.24. CG Oncology, Inc. has a 1-year low of $23.32 and a 1-year high of $73.56. The company has a market cap of $6.10 billion, a P/E ratio of -29.75 and a beta of 0.41.

CG Oncology (NASDAQ:CGON - Get Free Report) last released its quarterly earnings data on Friday, May 8th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.58) by ($0.13). The firm had revenue of $1.08 million for the quarter, compared to the consensus estimate of $0.45 million. On average, research analysts forecast that CG Oncology, Inc. will post -2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other CG Oncology news, Director James Mulay sold 15,600 shares of the 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 transaction, the director owned 15,600 shares in the company, valued at approximately $1,138,956. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.80% of the company's stock.

Key Stories Impacting CG Oncology

Here are the key news stories impacting CG Oncology this week:

• Positive Sentiment: JPMorgan raised its price target to $96 and kept an overweight rating, implying substantial upside from current levels.
• Positive Sentiment: Royal Bank of Canada lifted its target to $81 with an outperform rating, while Truist and Wedbush also increased targets, reinforcing bullish analyst sentiment.
• Positive Sentiment: CG Oncology said its presence at the AUA Annual Meeting highlights its commitment to NMIBC, with first results from the CORE-008 Cohort CX Phase 2 trial set to be presented, keeping attention on its pipeline and clinical progress. Article Title
• Neutral Sentiment: Analysts have been boosting forecasts following Q1 earnings, suggesting expectations are improving, but the latest quarter was described as mixed. Article Title
• Negative Sentiment: The Q1 report showed a wider loss than expected, and another report noted that CG Oncology still has a cash runway through 2029, highlighting ongoing burn and lack of near-term profitability. Article Title

Analyst Ratings Changes

Several research analysts have issued reports on CGON shares. Truist Financial restated a "buy" rating and set a $77.00 price target (up from $75.00) on shares of CG Oncology in a report on Monday. Piper Sandler increased their price objective on shares of CG Oncology from $55.00 to $70.00 and gave the stock an "overweight" rating in a research report on Friday, January 16th. Weiss Ratings reissued a "sell (d-)" rating on shares of CG Oncology in a research note on Monday, April 20th. The Goldman Sachs Group restated a "buy" rating and issued a $82.00 target price on shares of CG Oncology in a report on Monday, January 12th. Finally, Royal Bank Of Canada upped their price target on shares of CG Oncology from $79.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday. Eleven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, CG Oncology presently has a consensus rating of "Moderate Buy" and a consensus target price of $81.27.

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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