Man Group plc Takes $3.68 Million Position in CG Oncology, Inc. $CGON

Man Group plc bought a new position in CG Oncology, Inc. (NASDAQ:CGON) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 51,849 shares of the company’s stock, valued at approximately $3,684,000. Man Group plc owned approximately 0.06% of CG Oncology as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Jennison Associates LLC purchased a new position in shares of CG Oncology during the 4th quarter valued at about $11,730,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in CG Oncology by 623.8% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 37,834 shares of the company’s stock worth $1,571,000 after buying an additional 32,607 shares in the last quarter. State of New Jersey Common Pension Fund D bought a new position in CG Oncology during the fourth quarter valued at approximately $606,000. Bank of America Corp DE grew its position in CG Oncology by 21.8% during the first quarter. Bank of America Corp DE now owns 1,449,364 shares of the company’s stock valued at $98,093,000 after acquiring an additional 259,311 shares during the last quarter. Finally, EcoR1 Capital LLC grew its position in CG Oncology by 3.5% during the first quarter. EcoR1 Capital LLC now owns 1,102,000 shares of the company’s stock valued at $74,583,000 after acquiring an additional 37,200 shares during the last quarter. Hedge funds and other institutional investors own 26.56% of the company’s stock.

CG Oncology Stock Performance

Shares of CG Oncology stock opened at $74.34 on Monday. CG Oncology, Inc. has a 52-week low of $26.22 and a 52-week high of $80.97. The company’s 50 day moving average price is $73.04 and its 200-day moving average price is $66.56. The stock has a market capitalization of $6.59 billion, a price-to-earnings ratio of -27.64 and a beta of 0.23.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.24). The firm had revenue of $1.16 million for the quarter, compared to analysts’ expectations of $0.36 million. CG Oncology had a negative net margin of 3,602.68% and a negative return on equity of 25.20%. As a group, equities research analysts forecast that CG Oncology, Inc. will post -3.27 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen cut shares of CG Oncology from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. lifted their target price on shares of CG Oncology from $91.00 to $96.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of CG Oncology in a research note on Friday, July 17th. HC Wainwright restated a “buy” rating and set a $100.00 price target on shares of CG Oncology in a research report on Wednesday, July 29th. Finally, Truist Financial raised their price objective on CG Oncology from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, CG Oncology has a consensus rating of “Moderate Buy” and a consensus price target of $83.18.

Insider Activity

In other CG Oncology news, Director James Mulay sold 24,165 shares of the company’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $75.16, for a total transaction of $1,816,241.40. Following the completion of the transaction, the director owned 24,165 shares of the company’s stock, valued at $1,816,241.40. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Leonard E. Post sold 5,000 shares of CG Oncology stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $70.00, for a total value of $350,000.00. Following the completion of the sale, the director owned 5,000 shares in the company, valued at approximately $350,000. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 38,129 shares of company stock valued at $2,738,357. Insiders own 4.80% of the company’s stock.

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.