The Manufacturers Life Insurance Company Makes New $5.77 Million Investment in CG Oncology, Inc. $CGON

The Manufacturers Life Insurance Company bought a new stake in shares of CG Oncology, Inc. (NASDAQ:CGON) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 81,157 shares of the company’s stock, valued at approximately $5,766,000.

A number of other large investors also recently made changes to their positions in the business. Fiduciary Financial Advisors purchased a new stake in shares of CG Oncology in the second quarter worth approximately $28,000. NFSG Corp acquired a new position in CG Oncology in the 1st quarter valued at approximately $34,000. Comerica Bank increased its stake in CG Oncology by 100.4% in the 4th quarter. Comerica Bank now owns 1,028 shares of the company’s stock valued at $43,000 after buying an additional 515 shares during the period. Fifth Third Bancorp purchased a new stake in CG Oncology in the 1st quarter worth approximately $74,000. Finally, KBC Group NV purchased a new stake in CG Oncology in the 1st quarter worth approximately $78,000. Institutional investors and hedge funds own 26.56% of the company’s stock.

Insiders Place Their Bets

In other CG Oncology news, Director James Mulay sold 24,165 shares of the firm’s stock in a transaction dated 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 transaction, the director directly owned 24,165 shares in the company, valued at $1,816,241.40. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian Guan-Chyun Liu purchased 371,085 shares of CG Oncology stock in a transaction on Thursday, June 25th. The stock was bought at an average cost of $66.87 per share, with a total value of $24,814,453.95. Following the transaction, the director directly owned 1,886,236 shares of the company’s stock, valued at approximately $126,132,601.32. The trade was a 24.49% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold 38,129 shares of company stock valued at $2,738,357 over the last three months. 4.80% of the stock is currently owned by insiders.

CG Oncology Stock Up 1.1%

CGON stock opened at $75.16 on Tuesday. The firm has a 50 day moving average of $73.22 and a two-hundred day moving average of $66.72. CG Oncology, Inc. has a 12 month low of $26.22 and a 12 month high of $80.97. The company has a market capitalization of $6.66 billion, a price-to-earnings ratio of -27.94 and a beta of 0.23.

CG Oncology (NASDAQ:CGON) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.24). The business had revenue of $1.16 million during the quarter, compared to analyst estimates of $0.36 million. CG Oncology had a negative net margin of 3,602.68% and a negative return on equity of 25.20%. On average, research analysts expect that CG Oncology, Inc. will post -3.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on CGON. Weiss Ratings restated a “sell (d-)” rating on shares of CG Oncology in a report on Friday, July 17th. JPMorgan Chase & Co. increased their price objective on CG Oncology from $91.00 to $96.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Wolfe Research started coverage on CG Oncology in a research report on Tuesday, May 19th. They set a “peer perform” rating for the company. Royal Bank Of Canada lowered their target price on CG Oncology from $81.00 to $79.00 and set an “outperform” rating on the stock in a research note on Friday, August 7th. Finally, Piper Sandler raised their price target on CG Oncology from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Eleven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, CG Oncology presently has an average rating of “Moderate Buy” and an average target price of $83.18.

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.