PSP Research LLC Acquires New Shares in CG Oncology, Inc. $CGON

PSP Research LLC acquired a new stake in CG Oncology, Inc. (NASDAQ:CGON) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 13,293 shares of the company’s stock, valued at approximately $552,000. CG Oncology makes up about 0.5% of PSP Research LLC’s holdings, making the stock its 8th biggest holding.

Other large investors have also bought and sold shares of the company. Candriam S.C.A. boosted its stake in CG Oncology by 35.9% in the third quarter. Candriam S.C.A. now owns 1,037,892 shares of the company’s stock valued at $41,806,000 after buying an additional 274,312 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in CG Oncology by 321.3% in the third quarter. JPMorgan Chase & Co. now owns 227,879 shares of the company’s stock valued at $9,179,000 after buying an additional 173,785 shares in the last quarter. Vanguard Group Inc. boosted its stake in CG Oncology by 11.4% in the third quarter. Vanguard Group Inc. now owns 6,577,281 shares of the company’s stock valued at $264,933,000 after buying an additional 670,770 shares in the last quarter. Mangrove Partners IM LLC boosted its stake in CG Oncology by 21.0% in the third quarter. Mangrove Partners IM LLC now owns 671,692 shares of the company’s stock valued at $27,056,000 after buying an additional 116,575 shares in the last quarter. Finally, Sivik Global Healthcare LLC acquired a new stake in CG Oncology in the fourth quarter valued at about $1,453,000. 26.56% of the stock is owned by institutional investors and hedge funds.

CG Oncology Price Performance

CG Oncology stock opened at $63.30 on Wednesday. The stock’s 50 day moving average is $67.14 and its 200 day moving average is $54.30. The firm has a market cap of $5.58 billion, a P/E ratio of -27.17 and a beta of 0.41. CG Oncology, Inc. has a one year low of $23.65 and a one year high of $75.50.

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on CG Oncology from $91.00 to $96.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 price objective on shares of CG Oncology in a research note on Monday. Royal Bank Of Canada lifted their price target on CG Oncology from $79.00 to $81.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Wedbush lifted their price target on CG Oncology from $77.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Finally, Wall Street Zen lowered shares of CG Oncology from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Eleven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $81.73.

Insider Activity at CG Oncology

In related news, Director James Mulay sold 15,600 shares of CG Oncology stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $73.01, for a total value of $1,138,956.00. Following the transaction, the director directly owned 15,600 shares of the company’s stock, valued at $1,138,956. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.80% of the stock is currently owned by corporate 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.