Woodline Partners LP Grows Holdings in CG Oncology, Inc. $CGON

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 increased its holdings in CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 21.5% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 764,357 shares of the company's stock after buying 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 large investors have also made changes to their positions in the company. Invesco Ltd. grew its stake in shares of CG Oncology by 2.5% during the 1st quarter. Invesco Ltd. now owns 27,754 shares of the company's stock valued at $680,000 after purchasing an additional 685 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in shares of CG Oncology by 6.5% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 15,270 shares of the company's stock valued at $374,000 after purchasing an additional 930 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of CG Oncology by 0.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 258,090 shares of the company's stock valued at $6,321,000 after purchasing an additional 933 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of 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 purchasing an additional 1,026 shares during the period. Finally, GF Fund Management CO. LTD. bought a new stake in shares of CG Oncology during the 4th quarter valued at about $41,000. 26.56% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CGON. Zacks Research upgraded CG Oncology from a "strong sell" rating to a "hold" rating in a research note on Monday, September 1st. Royal Bank Of Canada cut their price target on CG Oncology from $68.00 to $53.00 and set an "outperform" rating for the company in a research note on Wednesday, July 16th. Morgan Stanley boosted their price target on CG Oncology from $52.00 to $56.00 and gave the company an "overweight" rating in a research note on Tuesday, June 17th. Wall Street Zen downgraded CG Oncology from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, The Goldman Sachs Group upgraded CG Oncology to a "strong-buy" rating and set a $40.00 price objective for the company in a research note on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, CG Oncology currently has an average rating of "Moderate Buy" and an average price target of $53.91.

CG Oncology Stock Performance

Shares of CGON traded up $1.75 during mid-day trading on Tuesday, hitting $36.35. 400,641 shares of the stock were exchanged, compared to its average volume of 984,759. The company has a market cap of $2.77 billion, a PE ratio of -20.56 and a beta of 0.87. CG Oncology, Inc. has a 52-week low of $14.80 and a 52-week high of $40.47. The firm has a 50-day moving average of $27.37 and a two-hundred day moving average of $25.62.

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

Insider Buying and Selling

In other news, Director Hong Fang Song sold 100,000 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $27.80, for a total transaction of $2,780,000.00. Following the transaction, the director owned 2,903,931 shares of the company's stock, valued at approximately $80,729,281.80. The trade was a 3.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 shares were 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. In the last quarter, insiders sold 129,015 shares of company stock worth $3,687,783. 7.40% of the stock is owned by company insiders.

CG Oncology 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.