TimesSquare Capital Management LLC Decreases Stock Holdings in CG Oncology, Inc. $CGON

Key Points

• TimesSquare Capital Management reduced its CG Oncology position by 15.4% in the fourth quarter, selling 77,507 shares and leaving it with 426,019 shares valued at about $17.7 million.
• Analysts remain largely positive on CG Oncology, with multiple firms raising price targets and the stock carrying a Moderate Buy consensus and an average target of $81.73.
• CG Oncology reported a quarterly loss of $0.71 per share, wider than expected, even though revenue of $1.08 million topped estimates; the stock opened at $63.30 and has a 12-month high of $75.50.

TimesSquare Capital Management LLC cut its position in CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 15.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 426,019 shares of the company's stock after selling 77,507 shares during the quarter. TimesSquare Capital Management LLC owned 0.53% of CG Oncology worth $17,688,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CGON. AQR Capital Management LLC purchased a new position in shares of CG Oncology in the first quarter valued at $475,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of CG Oncology by 18.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,522 shares of the company's stock valued at $876,000 after purchasing an additional 5,442 shares during the period. Millennium Management LLC boosted its stake in shares of CG Oncology by 139.4% in the first quarter. Millennium Management LLC now owns 596,056 shares of the company's stock valued at $14,597,000 after purchasing an additional 347,055 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted 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 valued at $4,393,000 after purchasing an additional 53,461 shares during the period. Finally, Legal & General Group Plc boosted its stake in shares of CG Oncology by 12.3% in 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 currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wedbush upped their target price on shares of CG Oncology from $77.00 to $80.00 and gave the company an "outperform" rating in a research note on Monday, May 11th. Royal Bank Of Canada upped their target price on shares of CG Oncology from $79.00 to $81.00 and gave the company an "outperform" rating in a research note on Monday, May 11th. Truist Financial restated a "buy" rating and issued a $82.00 target price (up from $77.00) on shares of CG Oncology in a research note on Thursday, May 14th. JPMorgan Chase & Co. upped their target price on shares of CG Oncology from $91.00 to $96.00 and gave the company an "overweight" rating in a research note on Monday, May 11th. Finally, Wall Street Zen downgraded shares of CG Oncology from a "hold" rating to a "sell" rating in a research note on Saturday, April 25th. 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 company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $81.73.

CG Oncology Price Performance

CGON opened at $63.30 on Wednesday. The stock has a market capitalization of $5.58 billion, a PE ratio of -27.17 and a beta of 0.41. The firm's fifty day moving average price is $67.14 and its 200 day moving average price is $54.30. CG Oncology, Inc. has a 12-month low of $23.65 and a 12-month high of $75.50.

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

Insider Transactions at CG Oncology

In related news, Director James Mulay sold 15,600 shares of the company's 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 directly owned 15,600 shares of the company's stock, valued at $1,138,956. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 4.80% of the stock is owned by corporate insiders.

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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