CenterBook Partners LP Sells 326,116 Shares of CG Oncology, Inc. $CGON

CenterBook Partners LP decreased its position in CG Oncology, Inc. (NASDAQ:CGON) by 82.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 69,224 shares of the company’s stock after selling 326,116 shares during the period. CenterBook Partners LP’s holdings in CG Oncology were worth $2,874,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CGON. Vanguard Group Inc. raised its position in CG Oncology by 11.4% in the 3rd 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 during the last quarter. Wellington Management Group LLP raised its position in CG Oncology by 190.3% in the 3rd quarter. Wellington Management Group LLP now owns 5,512,779 shares of the company’s stock valued at $222,055,000 after buying an additional 3,613,885 shares during the last quarter. Alliancebernstein L.P. raised its position in CG Oncology by 15.0% in the 2nd quarter. Alliancebernstein L.P. now owns 2,164,214 shares of the company’s stock valued at $56,270,000 after buying an additional 281,637 shares during the last quarter. Bank of America Corp DE raised its position in CG Oncology by 409.9% in the 2nd quarter. Bank of America Corp DE now owns 1,736,769 shares of the company’s stock valued at $45,156,000 after buying an additional 1,396,170 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in CG Oncology by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 1,511,533 shares of the company’s stock valued at $62,773,000 after buying an additional 38,360 shares during the last quarter. Institutional investors own 26.56% of the company’s stock.

CG Oncology Stock Up 1.3%

CGON stock opened at $54.40 on Tuesday. The business has a 50 day moving average price of $65.73 and a two-hundred day moving average price of $56.21. The company has a market cap of $4.80 billion, a price-to-earnings ratio of -23.35 and a beta of 0.31. CG Oncology, Inc. has a twelve month low of $23.65 and a twelve month high of $75.50.

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

Insider Buying and Selling

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $54.50, for a total value of $54,500.00. Following the completion of the transaction, the director directly owned 1,000 shares in the company, valued at $54,500. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James Mulay sold 15,600 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $73.01, for a total value of $1,138,956.00. Following the completion of the transaction, the director owned 15,600 shares of the company’s stock, valued at approximately $1,138,956. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 18,564 shares of company stock valued at $1,318,170. Corporate insiders own 4.80% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CGON shares. Royal Bank Of Canada lifted their target price on CG Oncology from $79.00 to $81.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Wall Street Zen lowered CG Oncology from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. JPMorgan Chase & Co. lifted their target price on CG Oncology from $91.00 to $96.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Wedbush lifted their target price on CG Oncology from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Finally, Truist Financial reissued a “buy” rating and issued a $82.00 target price (up from $77.00) on shares of CG Oncology in a research report on Thursday, May 14th. Eleven investment analysts have rated the stock with a Buy rating, two have given 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 target price of $81.73.

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.