CG Oncology, Inc. $CGON Shares Bought by Woodline Partners LP

Key Points

• Woodline Partners LP increased its stake in CG Oncology, Inc. by 21.5% during the first quarter, bringing its total ownership to approximately $18.7 million.
• Several analysts have issued mixed ratings for CG Oncology, with Cantor Fitzgerald maintaining an "overweight" rating and setting a price target of $75.00, while Zacks changed its rating from "strong sell" to "hold."
• CG Oncology recently reported a loss of ($0.54) EPS, missing analysts' expectations, and has a current average target price of $53.91.

Woodline Partners LP grew its position in CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 21.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 764,357 shares of the company's stock after acquiring an additional 135,472 shares during the quarter. Woodline Partners LP owned about 1.00% of CG Oncology worth $18,719,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Northern Trust Corp boosted its stake in CG Oncology by 13.7% during the 4th quarter. Northern Trust Corp now owns 433,860 shares of the company's stock worth $12,443,000 after purchasing an additional 52,419 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of CG Oncology by 70.2% during the fourth quarter. Ameriprise Financial Inc. now owns 21,946 shares of the company's stock worth $629,000 after buying an additional 9,051 shares during the period. Bank of America Corp DE grew its holdings in shares of CG Oncology by 22.6% during the fourth quarter. Bank of America Corp DE now owns 209,518 shares of the company's stock worth $6,009,000 after buying an additional 38,626 shares during the last quarter. Deutsche Bank AG increased its position in CG Oncology by 53.5% in the 4th quarter. Deutsche Bank AG now owns 38,978 shares of the company's stock valued at $1,118,000 after acquiring an additional 13,589 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in CG Oncology by 3.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,080 shares of the company's stock valued at $862,000 after acquiring an additional 1,026 shares during the last quarter. 26.56% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at CG Oncology

In other news, Director Hong Fang Song sold 100,000 shares of CG Oncology stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $27.80, for a total transaction of $2,780,000.00. Following the completion of the sale, the director directly owned 2,903,931 shares in the company, valued at approximately $80,729,281.80. This trade represents a 3.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Mulay sold 27,015 shares of the business's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $31.53, for a total value of $851,782.95. The disclosure for this sale can be found here. Over the last three months, insiders sold 129,015 shares of company stock valued at $3,687,783. Corporate insiders own 7.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CGON. Morgan Stanley lifted their target price on CG Oncology from $52.00 to $56.00 and gave the company an "overweight" rating in a research note on Tuesday, June 17th. Zacks Research upgraded shares of CG Oncology from a "strong sell" rating to a "hold" rating in a research report on Monday, September 1st. The Goldman Sachs Group raised shares of CG Oncology to a "strong-buy" rating and set a $40.00 price objective on the stock in a research note on Thursday, July 10th. Royal Bank Of Canada cut their price objective on shares of CG Oncology from $68.00 to $53.00 and set an "outperform" rating for the company in a research report on Wednesday, July 16th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $75.00 target price on shares of CG Oncology in a report on Monday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $53.91.

CG Oncology Stock Performance

CG Oncology stock traded up $0.18 during midday trading on Friday, reaching $33.34. The company's stock had a trading volume of 1,398,940 shares, compared to its average volume of 823,360. The firm has a market capitalization of $2.54 billion, a PE ratio of -18.84 and a beta of 0.87. CG Oncology, Inc. has a fifty-two week low of $14.80 and a fifty-two week high of $40.47. The stock's 50 day simple moving average is $27.20 and its 200 day simple moving average is $25.55.

CG Oncology (NASDAQ:CGON - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.49) by ($0.05). CG Oncology had a negative net margin of 15,945.17% and a negative return on equity of 19.37%. Equities analysts predict that CG Oncology, Inc. will post -1.31 earnings per share for the current year.

About CG Oncology

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.