Mangrove Partners IM LLC Increases Stock Position in CG Oncology, Inc. $CGON

Mangrove Partners IM LLC grew its holdings in shares of CG Oncology, Inc. (NASDAQ:CGON) by 21.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 671,692 shares of the company’s stock after buying an additional 116,575 shares during the period. CG Oncology accounts for approximately 2.3% of Mangrove Partners IM LLC’s holdings, making the stock its 19th biggest position. Mangrove Partners IM LLC owned 0.88% of CG Oncology worth $27,056,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Wellington Management Group LLP lifted its position in CG Oncology by 190.3% during the 3rd quarter. Wellington Management Group LLP now owns 5,512,779 shares of the company’s stock valued at $222,055,000 after acquiring an additional 3,613,885 shares during the period. Bank of America Corp DE grew its holdings in CG Oncology by 409.9% in the second quarter. Bank of America Corp DE now owns 1,736,769 shares of the company’s stock worth $45,156,000 after purchasing an additional 1,396,170 shares during the period. Candriam S.C.A. purchased a new stake in CG Oncology in the second quarter worth about $19,854,000. Vanguard Group Inc. increased its stake in shares of CG Oncology by 11.4% during the third quarter. Vanguard Group Inc. now owns 6,577,281 shares of the company’s stock valued at $264,933,000 after purchasing an additional 670,770 shares in the last quarter. Finally, Millennium Management LLC increased its stake in shares of CG Oncology by 139.4% during 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 in the last quarter. 26.56% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CG Oncology

In other CG Oncology news, Director James Mulay sold 11,145 shares of the stock in a transaction on Friday, January 9th. The stock was sold at an average price of $52.47, for a total transaction of $584,778.15. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 7.40% of the company’s stock.

CG Oncology Stock Performance

Shares of CG Oncology stock opened at $64.29 on Friday. The company has a 50-day simple moving average of $54.66 and a two-hundred day simple moving average of $44.58. The stock has a market capitalization of $5.43 billion, a PE ratio of -31.06 and a beta of 1.18. CG Oncology, Inc. has a 52-week low of $14.80 and a 52-week high of $64.70.

CG Oncology (NASDAQ:CGON) last posted its quarterly earnings results on Friday, February 27th. The company reported ($0.51) EPS for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.10. The firm had revenue of $2.32 million for the quarter. As a group, equities research analysts forecast that CG Oncology, Inc. will post -1.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CGON shares. HC Wainwright boosted their price target on CG Oncology from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $82.00 price objective on shares of CG Oncology in a research report on Monday, January 12th. Royal Bank Of Canada lifted their price objective on CG Oncology from $61.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Piper Sandler boosted their target price on CG Oncology from $55.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of CG Oncology in a research note on Wednesday, January 21st. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $69.00.

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.