763,580 Shares in CG Oncology, Inc. $CGON Purchased by Candriam S.C.A.

Candriam S.C.A. purchased a new stake in CG Oncology, Inc. (NASDAQ:CGON) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 763,580 shares of the company’s stock, valued at approximately $19,854,000.

Several other large investors also recently bought and sold shares of the company. Wellington Management Group LLP raised its holdings in shares of CG Oncology by 11.2% during the first quarter. Wellington Management Group LLP now owns 2,125,208 shares of the company’s stock valued at $52,046,000 after acquiring an additional 214,738 shares during the last quarter. Alliancebernstein L.P. raised its stake in CG Oncology by 3.6% in the 1st quarter. Alliancebernstein L.P. now owns 1,882,577 shares of the company’s stock valued at $46,104,000 after purchasing an additional 64,690 shares during the last quarter. Geode Capital Management LLC raised its stake in CG Oncology by 4.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,335,437 shares of the company’s stock valued at $34,727,000 after purchasing an additional 56,203 shares during the last quarter. Woodline Partners LP lifted its holdings in CG Oncology by 21.5% in the 1st quarter. Woodline Partners LP now owns 764,357 shares of the company’s stock valued at $18,719,000 after purchasing an additional 135,472 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in CG Oncology by 139.4% during the 1st quarter. Millennium Management LLC now owns 596,056 shares of the company’s stock worth $14,597,000 after purchasing an additional 347,055 shares during the last quarter. 26.56% of the stock is currently owned by hedge funds and other institutional investors.

CG Oncology Price Performance

Shares of NASDAQ CGON opened at $37.76 on Friday. The company has a market capitalization of $2.88 billion, a P/E ratio of -21.33 and a beta of 1.32. The company has a 50 day simple moving average of $39.39 and a 200-day simple moving average of $30.75. CG Oncology, Inc. has a 1 year low of $14.80 and a 1 year high of $45.56.

Analyst Ratings Changes

CGON has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of CG Oncology from a “sell” rating to a “hold” rating in a research report on Friday, October 3rd. Morgan Stanley increased their price objective on shares of CG Oncology from $56.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, September 17th. Piper Sandler began coverage on shares of CG Oncology in a research note on Monday, August 18th. They issued an “overweight” rating and a $55.00 target price on the stock. JPMorgan Chase & Co. upped their price target on CG Oncology from $41.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday, September 26th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $75.00 price target on shares of CG Oncology in a report on Monday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $58.70.

Insiders Place Their Bets

In related news, Director Leonard E. Post sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $40.09, for a total transaction of $200,450.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brian Guan-Chyun Liu acquired 1,515,151 shares of CG Oncology stock in a transaction that occurred on Thursday, September 11th. The stock was bought at an average price of $33.00 per share, for a total transaction of $49,999,983.00. Following the completion of the acquisition, the director owned 1,515,151 shares in the company, valued at $49,999,983. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 174,359 shares of company stock worth $5,511,784 in the last three months. 7.40% of the stock is owned by insiders.

CG Oncology Profile

CG Oncology, Inc, an oncolytic immunotherapy company, focuses on developing and commercializing backbone bladder-sparing therapeutics for patients with bladder cancer. The company develops BOND-003 for the treatment of high-risk bacillus calmette guerin (BCG)-unresponsive non-muscle invasive bladder cancer (NMIBC) patients; CORE-001 to treat cretostimogene in combination with pembrolizumab in high-risk BCG-unresponsive NMIBC patients; and CORE-002 for the treatment of cretostimogene in combination with the checkpoint inhibitor nivolumab in muscle invasive bladder cancer patients.