Wellington Management Group LLP Purchases 1,400,251 Shares of CG Oncology, Inc. (NASDAQ:CGON)

Wellington Management Group LLP lifted its stake in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 274.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,910,470 shares of the company's stock after buying an additional 1,400,251 shares during the quarter. Wellington Management Group LLP owned about 2.51% of CG Oncology worth $54,792,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CGON. California State Teachers Retirement System raised its stake in CG Oncology by 115.3% in the 4th quarter. California State Teachers Retirement System now owns 38,768 shares of the company's stock worth $1,112,000 after purchasing an additional 20,763 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of CG Oncology in the 4th quarter valued at approximately $41,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of CG Oncology by 496.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 125,902 shares of the company's stock valued at $3,611,000 after buying an additional 104,780 shares in the last quarter. Woodline Partners LP grew its holdings in shares of CG Oncology by 3.8% during the 4th quarter. Woodline Partners LP now owns 628,885 shares of the company's stock valued at $18,036,000 after purchasing an additional 22,987 shares during the last quarter. Finally, Zimmer Partners LP bought a new stake in shares of CG Oncology during the 4th quarter valued at approximately $287,000. Institutional investors and hedge funds own 26.56% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada boosted their target price on shares of CG Oncology from $66.00 to $68.00 and gave the stock an "outperform" rating in a report on Tuesday, April 29th. Morgan Stanley reduced their target price on shares of CG Oncology from $55.00 to $52.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. HC Wainwright reaffirmed a "buy" rating and issued a $75.00 price objective on shares of CG Oncology in a research note on Monday, April 28th. Scotiabank started coverage on shares of CG Oncology in a report on Wednesday, April 16th. They issued a "sector perform" rating and a $23.00 target price for the company. Finally, JPMorgan Chase & Co. assumed coverage on shares of CG Oncology in a report on Friday, May 2nd. They issued an "overweight" rating and a $41.00 target price for the company. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, CG Oncology has an average rating of "Buy" and a consensus target price of $58.22.

Insider Activity at CG Oncology

In related news, Director Leonard E. Post sold 1,000 shares of the business's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $30.76, for a total transaction of $30,760.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.40% of the stock is owned by corporate insiders.

CG Oncology Stock Performance

Shares of NASDAQ CGON traded up $0.49 during midday trading on Tuesday, hitting $27.08. 116,613 shares of the company traded hands, compared to its average volume of 823,363. CG Oncology, Inc. has a 12-month low of $14.80 and a 12-month high of $40.47. The stock has a 50-day moving average price of $23.05 and a 200 day moving average price of $27.20. The firm has a market cap of $2.06 billion, a P/E ratio of -17.93 and a beta of 1.08.

CG Oncology (NASDAQ:CGON - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.09). CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. The company had revenue of $0.05 million for the quarter, compared to analysts' expectations of $0.53 million. As a group, equities analysts expect that CG Oncology, Inc. will post -1.31 earnings per share for the current year.

CG Oncology Company Profile

CG Oncology, Inc, an oncolytic immunotherapy company, focuses on developing and commercializing backbone bladder-sparing therapeutics for patients with bladder cancer. The company develops BOND-003 for the treatment of high-risk bacillus calmette guerin (BCG)-unresponsive non-muscle invasive bladder cancer (NMIBC) patients; CORE-001 to treat cretostimogene in combination with pembrolizumab in high-risk BCG-unresponsive NMIBC patients; and CORE-002 for the treatment of cretostimogene in combination with the checkpoint inhibitor nivolumab in muscle invasive bladder cancer patients.