Wellington Management Group LLP Lowers Position in CG Oncology, Inc. $CGON

Wellington Management Group LLP trimmed its position in shares of CG Oncology, Inc. (NASDAQ:CGON) by 0.9% during the second quarter, HoldingsChannel reports. The fund owned 5,324,751 shares of the company’s stock after selling 46,481 shares during the quarter. Wellington Management Group LLP owned about 0.06% of CG Oncology worth $378,324,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC purchased a new stake in CG Oncology in the 4th quarter valued at approximately $11,730,000. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of CG Oncology by 623.8% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 37,834 shares of the company’s stock worth $1,571,000 after buying an additional 32,607 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new position in shares of CG Oncology during the 4th quarter worth approximately $606,000. EcoR1 Capital LLC lifted its holdings in shares of CG Oncology by 3.5% in the 1st quarter. EcoR1 Capital LLC now owns 1,102,000 shares of the company’s stock valued at $74,583,000 after buying an additional 37,200 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of CG Oncology by 21.8% in the 1st quarter. Bank of America Corp DE now owns 1,449,364 shares of the company’s stock valued at $98,093,000 after buying an additional 259,311 shares during the period. 26.56% of the stock is owned by hedge funds and other institutional investors.

CG Oncology Stock Performance

Shares of NASDAQ CGON opened at $74.34 on Monday. The stock has a market cap of $6.59 billion, a price-to-earnings ratio of -27.64 and a beta of 0.23. CG Oncology, Inc. has a 52 week low of $26.22 and a 52 week high of $80.97. The company’s 50-day moving average price is $73.04 and its 200 day moving average price is $66.56.

CG Oncology (NASDAQ:CGON) last posted its earnings results on Thursday, August 6th. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.24). CG Oncology had a negative net margin of 3,602.68% and a negative return on equity of 25.20%. The business had revenue of $1.16 million for the quarter, compared to analysts’ expectations of $0.36 million. As a group, research analysts expect that CG Oncology, Inc. will post -3.27 earnings per share for the current year.

Insider Transactions at CG Oncology

In related news, Director Leonard E. Post sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $70.00, for a total value of $350,000.00. Following the sale, the director owned 5,000 shares of the company’s stock, valued at approximately $350,000. This represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James Mulay sold 24,165 shares of the stock in a transaction on Friday, July 10th. The shares were sold at an average price of $75.16, for a total value of $1,816,241.40. Following the sale, the director owned 24,165 shares in the company, valued at approximately $1,816,241.40. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 38,129 shares of company stock valued at $2,738,357 in the last ninety days. Corporate insiders own 4.80% of the company’s stock.

Wall Street Analysts Forecast Growth

CGON has been the topic of a number of analyst reports. HC Wainwright restated a “buy” rating and issued a $100.00 price target on shares of CG Oncology in a research note on Wednesday, July 29th. Wedbush raised their target price on CG Oncology from $77.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Piper Sandler boosted their target price on shares of CG Oncology from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Wolfe Research began coverage on shares of CG Oncology in a research note on Tuesday, May 19th. They set a “peer perform” rating on the stock. Finally, Wall Street Zen downgraded shares of CG Oncology from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Eleven investment analysts have rated the stock with a Buy rating, two have assigned 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 an average price target of $83.18.

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.