TimesSquare Capital Management LLC Takes $14.98 Million Position in CG Oncology, Inc. $CGON

Key Points

• TimesSquare Capital Management acquired 210,884 CG Oncology shares worth approximately $14.98 million, representing about 0.24% of the company. Institutional investors collectively own 26.56% of CGON.
• CG Oncology reported a quarterly loss of $0.90 per share, missing the $0.66 consensus estimate, while revenue of $1.16 million exceeded expectations. Analysts expect the company to post a full-year loss of $3.25 per share.
• Analysts maintain a generally positive outlook, with 11 Buy ratings, two Holds and one Sell, producing a “Moderate Buy” consensus and an average price target of $83.18 versus the stock’s $77.11 opening price.

TimesSquare Capital Management LLC acquired a new position in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 210,884 shares of the company's stock, valued at approximately $14,983,000. TimesSquare Capital Management LLC owned approximately 0.24% of CG Oncology at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CGON. NFSG Corp bought a new stake in CG Oncology during the first quarter valued at approximately $34,000. Comerica Bank increased its holdings in shares of CG Oncology by 100.4% in the 4th quarter. Comerica Bank now owns 1,028 shares of the company's stock worth $43,000 after buying an additional 515 shares during the last quarter. LPL Financial LLC increased its holdings in shares of CG Oncology by 9.8% in the 4th quarter. LPL Financial LLC now owns 6,201 shares of the company's stock worth $257,000 after buying an additional 551 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of CG Oncology during the 4th quarter valued at $27,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of CG Oncology by 33.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,920 shares of the company's stock valued at $163,000 after buying an additional 972 shares in the last quarter. 26.56% of the stock is currently owned by institutional investors.

CG Oncology Stock Performance

Shares of CGON opened at $77.11 on Tuesday. The firm has a market cap of $6.84 billion, a price-to-earnings ratio of -28.67 and a beta of 0.23. CG Oncology, Inc. has a fifty-two week low of $24.85 and a fifty-two week high of $79.39. The firm has a 50 day moving average price of $69.60 and a 200-day moving average price of $64.91.

CG Oncology (NASDAQ:CGON - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.24). The business 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%. As a group, equities research analysts predict that CG Oncology, Inc. will post -3.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

CGON has been the subject of several research reports. Wall Street Zen lowered shares of CG Oncology from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 8th. Wolfe Research initiated coverage on CG Oncology in a research report on Tuesday, May 19th. They set a "peer perform" rating on the stock. HC Wainwright reaffirmed a "buy" rating and set a $100.00 price target on shares of CG Oncology in a research note on Wednesday, July 29th. Piper Sandler upped their price objective on CG Oncology from $82.00 to $85.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Finally, Truist Financial upped their price objective on CG Oncology from $82.00 to $85.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $83.18.

Insider Buying and Selling at CG Oncology

In related news, Director Brian Guan-Chyun Liu bought 371,085 shares of the stock in a transaction dated Thursday, June 25th. The stock was bought at an average price of $66.87 per share, with a total value of $24,814,453.95. Following the purchase, the director owned 1,886,236 shares in the company, valued at approximately $126,132,601.32. The trade was a 24.49% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Leonard E. Post sold 5,000 shares of the stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $70.00, for a total value of $350,000.00. Following the sale, the director owned 5,000 shares of the company's stock, valued at $350,000. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 37,129 shares of company stock worth $2,663,817 over the last three months. Company insiders own 4.80% of the company's stock.

About CG Oncology

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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