CG Oncology, Inc. $CGON Shares Sold by Avidity Partners Management LP

Avidity Partners Management LP cut its stake in shares of CG Oncology, Inc. (NASDAQ:CGON) by 12.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,288,948 shares of the company’s stock after selling 183,751 shares during the quarter. CG Oncology comprises approximately 17.3% of Avidity Partners Management LP’s investment portfolio, making the stock its 2nd biggest holding. Avidity Partners Management LP owned 1.46% of CG Oncology worth $87,236,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CGON. Wellington Management Group LLP increased its holdings in shares of CG Oncology by 8.8% in the fourth quarter. Wellington Management Group LLP now owns 5,999,790 shares of the company’s stock valued at $249,111,000 after purchasing an additional 487,011 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of CG Oncology by 116.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,443,144 shares of the company’s stock worth $142,961,000 after purchasing an additional 1,854,386 shares during the last quarter. State Street Corp lifted its holdings in shares of CG Oncology by 46.4% during the fourth quarter. State Street Corp now owns 2,996,695 shares of the company’s stock worth $124,423,000 after purchasing an additional 950,028 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of CG Oncology by 15.0% during the second quarter. Alliancebernstein L.P. now owns 2,164,214 shares of the company’s stock worth $56,270,000 after purchasing an additional 281,637 shares during the period. Finally, RTW Investments LP lifted its holdings in shares of CG Oncology by 18.3% during the fourth quarter. RTW Investments LP now owns 2,012,127 shares of the company’s stock worth $83,544,000 after purchasing an additional 310,911 shares during the period. Institutional investors and hedge funds own 26.56% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CGON shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of CG Oncology in a report on Friday, July 17th. Wall Street Zen lowered shares of CG Oncology from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. Wolfe Research initiated coverage on shares of CG Oncology in a report on Tuesday, May 19th. They set a “peer perform” rating for the company. Wedbush boosted their target price on shares of CG Oncology from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $100.00 price target on shares of CG Oncology in a report on Wednesday. Eleven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $81.73.

CG Oncology Trading Down 2.5%

Shares of NASDAQ:CGON opened at $71.19 on Friday. CG Oncology, Inc. has a 12-month low of $23.65 and a 12-month high of $77.00. The company has a market capitalization of $6.28 billion, a PE ratio of -30.55 and a beta of 0.22. The business has a 50 day moving average of $66.06 and a two-hundred day moving average of $63.30.

CG Oncology (NASDAQ:CGON) last issued 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 firm had revenue of $1.08 million for the quarter, compared to analyst estimates of $0.45 million. Equities research analysts predict that CG Oncology, Inc. will post -2.89 earnings per share for the current fiscal year.

Insider Activity at CG Oncology

In other news, Director Brian Guan-Chyun Liu acquired 371,085 shares of the business’s stock in a transaction on Thursday, June 25th. The stock was bought at an average price of $66.87 per share, with a total value of $24,814,453.95. Following the completion of the acquisition, the director owned 1,886,236 shares of the company’s stock, valued at approximately $126,132,601.32. This represents a 24.49% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Leonard E. Post sold 5,000 shares of the company’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $70.00, for a total transaction of $350,000.00. Following the completion of the transaction, the director owned 5,000 shares of the company’s stock, valued at approximately $350,000. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 37,129 shares of company stock worth $2,663,817. 4.80% of the stock is owned by company insiders.

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.