Persistent Asset Partners Ltd Takes Position in CG Oncology, Inc. $CGON

Persistent Asset Partners Ltd bought a new stake in CG Oncology, Inc. (NASDAQ:CGON) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 12,343 shares of the company’s stock, valued at approximately $512,000.

Other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in shares of CG Oncology by 321.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 227,879 shares of the company’s stock valued at $9,179,000 after acquiring an additional 173,785 shares during the period. Vanguard Group Inc. raised its stake in shares of CG Oncology by 11.4% in the 3rd quarter. Vanguard Group Inc. now owns 6,577,281 shares of the company’s stock valued at $264,933,000 after acquiring an additional 670,770 shares during the period. Mangrove Partners IM LLC raised its stake in shares of CG Oncology by 21.0% in the 3rd quarter. Mangrove Partners IM LLC now owns 671,692 shares of the company’s stock valued at $27,056,000 after acquiring an additional 116,575 shares during the period. Sivik Global Healthcare LLC purchased a new position in shares of CG Oncology in the 4th quarter valued at $1,453,000. Finally, HighVista Strategies LLC raised its stake in shares of CG Oncology by 152.1% in the 3rd quarter. HighVista Strategies LLC now owns 26,040 shares of the company’s stock valued at $1,049,000 after acquiring an additional 15,712 shares during the period. Hedge funds and other institutional investors own 26.56% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wedbush raised their target price on shares of CG Oncology from $77.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Wall Street Zen downgraded shares of CG Oncology from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. Wolfe Research assumed coverage on shares of CG Oncology in a research note on Tuesday, May 19th. They issued a “peer perform” rating on the stock. Royal Bank Of Canada raised their target price on shares of CG Oncology from $79.00 to $81.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Finally, Truist Financial reissued a “buy” rating and issued a $82.00 target price (up from $77.00) on shares of CG Oncology in a research note on Thursday, May 14th. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $81.73.

CG Oncology Price Performance

CG Oncology stock opened at $60.28 on Wednesday. CG Oncology, Inc. has a 12-month low of $23.65 and a 12-month high of $75.50. The company has a market capitalization of $5.32 billion, a price-to-earnings ratio of -25.87 and a beta of 0.31. The firm’s fifty day moving average price is $64.74 and its 200 day moving average price is $56.84.

CG Oncology (NASDAQ:CGON) last released its quarterly earnings results on Friday, May 8th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.13). The company had revenue of $1.08 million for the quarter, compared to analysts’ expectations of $0.45 million. Analysts forecast that CG Oncology, Inc. will post -2.89 earnings per share for the current fiscal year.

Insider Buying and Selling at CG Oncology

In related news, Director James Mulay sold 1,964 shares of CG Oncology stock in a transaction on Monday, June 15th. The shares were sold at an average price of $60.12, for a total transaction of $118,075.68. Following the sale, the director owned 654 shares of the company’s stock, valued at $39,318.48. The trade was a 75.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $54.50, for a total transaction of $54,500.00. Following the sale, the director directly owned 1,000 shares in the company, valued at $54,500. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 18,564 shares of company stock worth $1,311,532 in the last ninety days. 4.80% of the stock is currently owned by insiders.

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.