CG Oncology, Inc. $CGON Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC decreased its stake in shares of CG Oncology, Inc. (NASDAQ:CGON) by 52.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,832 shares of the company’s stock after selling 15,227 shares during the period. Intech Investment Management LLC’s holdings in CG Oncology were worth $557,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its stake in shares of CG Oncology by 15.2% during the second quarter. PNC Financial Services Group Inc. now owns 3,279 shares of the company’s stock valued at $85,000 after acquiring an additional 433 shares during the last quarter. CWM LLC raised its stake in CG Oncology by 10.9% in the 3rd quarter. CWM LLC now owns 6,865 shares of the company’s stock valued at $277,000 after purchasing an additional 672 shares during the last quarter. Strengthening Families & Communities LLC acquired a new position in CG Oncology in the 3rd quarter valued at about $40,000. Police & Firemen s Retirement System of New Jersey lifted its holdings in CG Oncology by 10.6% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 12,879 shares of the company’s stock valued at $335,000 after purchasing an additional 1,232 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in CG Oncology by 5.3% in the 2nd quarter. Invesco Ltd. now owns 29,231 shares of the company’s stock valued at $760,000 after purchasing an additional 1,477 shares in the last quarter. 26.56% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director James Mulay sold 11,145 shares of the business’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $52.47, for a total transaction of $584,778.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 7.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CGON. Piper Sandler lifted their price target on shares of CG Oncology from $55.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. HC Wainwright raised their target price on shares of CG Oncology from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Royal Bank Of Canada lifted their target price on shares of CG Oncology from $61.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. Wedbush assumed coverage on CG Oncology in a report on Thursday, December 11th. They issued an “outperform” rating and a $70.00 price target for the company. Finally, Morgan Stanley set a $93.00 price objective on CG Oncology in a report on Friday, January 9th. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.00.

CG Oncology Price Performance

Shares of CGON stock opened at $64.66 on Thursday. The firm’s 50-day simple moving average is $53.78 and its 200-day simple moving average is $44.18. CG Oncology, Inc. has a 1-year low of $14.80 and a 1-year high of $64.67. The firm has a market cap of $5.46 billion, a P/E ratio of -31.24 and a beta of 1.18.

CG Oncology (NASDAQ:CGON) last released its earnings results on Friday, February 27th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.10. The company had revenue of $2.32 million during the quarter. Analysts expect that CG Oncology, Inc. will post -1.31 earnings per share for the current fiscal year.

CG Oncology 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.