Bank of America Corp DE Boosts Stock Holdings in CG Oncology, Inc. $CGON

Bank of America Corp DE boosted its position in shares of CG Oncology, Inc. (NASDAQ:CGON) by 21.8% in the 1st quarter, HoldingsChannel reports. The fund owned 1,449,364 shares of the company’s stock after acquiring an additional 259,311 shares during the period. Bank of America Corp DE’s holdings in CG Oncology were worth $98,093,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of CG Oncology during the 4th quarter worth approximately $27,000. NFSG Corp acquired a new stake in CG Oncology during the 1st quarter worth $34,000. Comerica Bank boosted its stake in CG Oncology by 100.4% in the fourth quarter. Comerica Bank now owns 1,028 shares of the company’s stock valued at $43,000 after acquiring an additional 515 shares in the last quarter. Fifth Third Bancorp purchased a new position in shares of CG Oncology during the first quarter worth about $74,000. Finally, KBC Group NV purchased a new position in shares of CG Oncology during the first quarter worth about $78,000. 26.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CGON has been the subject of several research analyst reports. Wall Street Zen downgraded CG Oncology from a “sell” rating to a “strong sell” rating in a report on Saturday. JPMorgan Chase & Co. upped their price target on shares of CG Oncology from $91.00 to $96.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Truist Financial increased their price target on shares of CG Oncology from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of CG Oncology in a research report on Friday, July 17th. Finally, Wedbush upped their target price on shares of CG Oncology from $77.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.18.

Insider Activity

In other news, Director Leonard E. Post sold 5,000 shares of the business’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $70.00, for a total transaction of $350,000.00. Following the transaction, the director directly owned 5,000 shares in the company, valued at $350,000. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Brian Guan-Chyun Liu acquired 371,085 shares of CG Oncology stock in a transaction that occurred on Thursday, June 25th. The stock was purchased at an average price of $66.87 per share, with a total value of $24,814,453.95. Following the transaction, the director owned 1,886,236 shares of the company’s stock, valued at $126,132,601.32. This trade represents a 24.49% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 37,129 shares of company stock valued at $2,663,817 over the last quarter. Corporate insiders own 4.80% of the company’s stock.

Trending Headlines about CG Oncology

Here are the key news stories impacting CG Oncology this week:

• Positive Sentiment: Analysts raised price targets: Piper Sandler increased its target from $82 to $85 and assigned an “overweight” rating, implying approximately 13.2% upside. Benzinga
• Positive Sentiment: Truist Financial also raised its target from $82 to $85 and upgraded its view to “buy,” citing a more constructive outlook for CG Oncology. The Fly
• Positive Sentiment: HC Wainwright maintained a “buy” rating and a $100 target. The firm modestly increased its long-term FY2030 EPS forecast to $6.88 from $6.77, reinforcing expectations for significant future earnings growth as the company advances its pipeline. MarketBeat
• Positive Sentiment: CG Oncology reported second-quarter revenue of $1.16 million, substantially above the $0.36 million consensus estimate, while also highlighting pipeline and business progress. CG Oncology Second-Quarter Results
• Neutral Sentiment: Royal Bank of Canada lowered its target from $81 to $79 but retained an “outperform” rating. The reduced target still represents roughly 5.2% potential upside and may reflect valuation calibration rather than a fundamental downgrade. Ticker Report
• Negative Sentiment: CG Oncology reported a quarterly loss of $0.90 per share, wider than the $0.66 consensus loss and the $0.54 loss recorded a year earlier. The earnings shortfall could limit gains despite strong analyst targets. Zacks Q2 Earnings Report
• Negative Sentiment: HC Wainwright reduced its FY2029 EPS estimate from $2.43 to $2.34, signaling some moderation in its intermediate-term earnings outlook, although its buy rating and $100 target remain unchanged.

CG Oncology Price Performance

CG Oncology stock opened at $75.10 on Friday. CG Oncology, Inc. has a 12 month low of $23.65 and a 12 month high of $77.00. The business has a 50 day simple moving average of $67.12 and a 200-day simple moving average of $63.95. The stock has a market capitalization of $6.62 billion, a PE ratio of -27.92 and a beta of 0.23.

CG Oncology (NASDAQ:CGON) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.24). The firm had revenue of $1.16 million during the quarter, compared to analysts’ expectations of $0.36 million. CG Oncology had a negative net margin of 3,602.68% and a negative return on equity of 26.58%. As a group, equities research analysts anticipate that CG Oncology, Inc. will post -2.89 EPS for the current year.

About CG Oncology

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.