TD Asset Management Inc Grows Stock Position in CG Oncology, Inc. $CGON

Key Points

• TD Asset Management increased its stake in CG Oncology by 23.3% in the fourth quarter, buying 35,272 additional shares and bringing its total to 186,448 shares worth about $7.74 million.
• Several other institutions also boosted or initiated positions, and hedge funds and other institutional investors now own 26.56% of the company. However, insiders have been selling shares recently, including directors James Mulay and Leonard E. Post.
• CG Oncology stock was trading around $56.67 after a 4.2% move higher, while analysts remain generally bullish with a Moderate Buy consensus and an average target price of $81.73, despite the company’s recent quarterly EPS miss.

TD Asset Management Inc raised its holdings in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 23.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 186,448 shares of the company's stock after purchasing an additional 35,272 shares during the period. TD Asset Management Inc owned 0.23% of CG Oncology worth $7,741,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC purchased a new stake in CG Oncology during the 1st quarter valued at about $475,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in CG Oncology by 18.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,522 shares of the company's stock worth $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 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of CG Oncology by 42.5% in 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 acquiring an additional 53,461 shares during the period. Finally, Legal & General Group Plc lifted its position in CG Oncology by 12.3% during the second quarter. Legal & General Group Plc now owns 44,354 shares of the company's stock valued at $1,153,000 after purchasing an additional 4,847 shares during the period. 26.56% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director James Mulay sold 15,600 shares of the stock in a transaction on Friday, April 17th. The shares were sold at an average price of $73.01, for a total value of $1,138,956.00. Following the sale, the director owned 15,600 shares of the company's stock, 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 SEC, which can be accessed through this link. Also, Director Leonard E. Post sold 1,000 shares of the firm's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $54.50, for a total transaction of $54,500.00. Following the completion of 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 SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 18,564 shares of company stock valued at $1,318,170. 4.80% of the stock is owned by corporate insiders.

CG Oncology Trading Up 4.2%

Shares of CG Oncology stock opened at $56.67 on Wednesday. The stock has a 50 day moving average of $65.57 and a 200 day moving average of $56.31. CG Oncology, Inc. has a 12 month low of $23.65 and a 12 month high of $75.50. The firm has a market cap of $5.00 billion, a PE ratio of -24.32 and a beta of 0.31.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.58) by ($0.13). The business had revenue of $1.08 million during the quarter, compared to analyst estimates of $0.45 million. As a group, equities research analysts forecast that CG Oncology, Inc. will post -2.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CGON has been the topic of several analyst reports. Wedbush boosted their price objective on shares of CG Oncology from $77.00 to $80.00 and gave the company an "outperform" rating in a research report on Monday, May 11th. Wall Street Zen cut shares of CG Oncology from a "hold" rating to a "sell" rating in a research note on Saturday, April 25th. JPMorgan Chase & Co. increased their price target on CG Oncology from $91.00 to $96.00 and gave the stock an "overweight" rating in a research note on Monday, May 11th. Truist Financial restated a "buy" rating and issued a $82.00 price objective (up from $77.00) on shares of CG Oncology in a research report on Thursday, May 14th. Finally, HC Wainwright reissued a "buy" rating and set a $100.00 target price on shares of CG Oncology in a research note on Monday, May 18th. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, CG Oncology presently has a consensus rating of "Moderate Buy" and a consensus target price of $81.73.

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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