CG Oncology, Inc. $CGON Shares Sold by Cinctive Capital Management LP

Cinctive Capital Management LP cut its position in CG Oncology, Inc. (NASDAQ:CGON) by 61.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 32,558 shares of the company’s stock after selling 52,298 shares during the quarter. Cinctive Capital Management LP’s holdings in CG Oncology were worth $1,311,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CGON. Candriam S.C.A. grew its position in CG Oncology by 35.9% in the 3rd quarter. Candriam S.C.A. now owns 1,037,892 shares of the company’s stock worth $41,806,000 after purchasing an additional 274,312 shares during the last quarter. Voya Investment Management LLC raised its holdings in shares of CG Oncology by 217.6% during the third quarter. Voya Investment Management LLC now owns 47,986 shares of the company’s stock valued at $1,933,000 after buying an additional 32,877 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of CG Oncology by 11.4% during the third quarter. Vanguard Group Inc. now owns 6,577,281 shares of the company’s stock worth $264,933,000 after buying an additional 670,770 shares during the period. Mangrove Partners IM LLC boosted its position in shares of CG Oncology by 21.0% during the third quarter. Mangrove Partners IM LLC now owns 671,692 shares of the company’s stock worth $27,056,000 after buying an additional 116,575 shares during the period. Finally, Tejara Capital Ltd bought a new position in CG Oncology in the 2nd quarter worth approximately $944,000. 26.56% of the stock is owned by institutional investors and hedge funds.

CG Oncology Price Performance

Shares of NASDAQ:CGON opened at $65.90 on Tuesday. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of -31.84 and a beta of 1.17. CG Oncology, Inc. has a 12 month low of $14.80 and a 12 month high of $66.81. The stock’s 50 day moving average price is $55.18 and its 200 day moving average price is $45.11.

CG Oncology (NASDAQ:CGON) last issued its quarterly 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 firm had revenue of $2.32 million for the quarter. On average, sell-side analysts expect that CG Oncology, Inc. will post -1.31 EPS for the current year.

Insider Buying and Selling at CG Oncology

In other news, Director James Mulay sold 11,145 shares of the company’s stock in a transaction on Friday, January 9th. The stock was sold at an average price of $52.47, for a total value of $584,778.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Wall Street Analyst Weigh In

Several research firms recently commented on CGON. Piper Sandler raised their target price on CG Oncology from $55.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, January 16th. Truist Financial increased their price target on CG Oncology from $66.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. The Goldman Sachs Group reissued a “buy” rating and set a $82.00 price target on shares of CG Oncology in a report on Monday, January 12th. Wedbush began coverage on shares of CG Oncology in a research note on Thursday, December 11th. They set an “outperform” rating and a $70.00 price objective on the stock. Finally, HC Wainwright upped their price objective on shares of CG Oncology from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $69.00.

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.