Hsbc Holdings PLC Takes Position in CG Oncology, Inc. $CGON

Hsbc Holdings PLC bought a new stake in CG Oncology, Inc. (NASDAQ:CGON) in the first quarter, Holdings Channel reports. The institutional investor bought 187,765 shares of the company’s stock, valued at approximately $12,708,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its stake in CG Oncology by 8.8% during the fourth quarter. Wellington Management Group LLP now owns 5,999,790 shares of the company’s stock worth $249,111,000 after buying an additional 487,011 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of CG Oncology by 116.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,443,144 shares of the company’s stock valued at $142,961,000 after buying an additional 1,854,386 shares in the last quarter. State Street Corp lifted its holdings in shares of CG Oncology by 46.4% during the 4th quarter. State Street Corp now owns 2,996,695 shares of the company’s stock worth $124,423,000 after acquiring an additional 950,028 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of CG Oncology by 15.0% during the 2nd quarter. Alliancebernstein L.P. now owns 2,164,214 shares of the company’s stock worth $56,270,000 after acquiring an additional 281,637 shares during the period. Finally, RTW Investments LP boosted its position in shares of CG Oncology by 18.3% during the 4th quarter. RTW Investments LP now owns 2,012,127 shares of the company’s stock valued at $83,544,000 after acquiring an additional 310,911 shares in the last quarter. 26.56% of the stock is owned by institutional investors.

CG Oncology Stock Performance

Shares of NASDAQ:CGON opened at $69.31 on Thursday. The company’s fifty day moving average is $65.19 and its 200-day moving average is $62.06. CG Oncology, Inc. has a 52 week low of $23.65 and a 52 week high of $77.00. The company has a market capitalization of $6.11 billion, a PE ratio of -29.75 and a beta of 0.22.

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

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. HC Wainwright reissued a “buy” rating and issued a $100.00 target price on shares of CG Oncology in a research note on Monday, May 18th. Truist Financial restated a “buy” rating and set a $82.00 price target (up from $77.00) on shares of CG Oncology in a research note on Thursday, May 14th. Wall Street Zen downgraded CG Oncology from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of CG Oncology in a research note on Friday, July 17th. Finally, Wolfe Research began coverage on CG Oncology in a report on Tuesday, May 19th. They issued a “peer perform” rating for the company. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $81.73.

Insiders Place Their Bets

In other news, Director Brian Guan-Chyun Liu acquired 371,085 shares of the company’s stock in a transaction dated Thursday, June 25th. The stock was bought at an average price of $66.87 per share, with a total value of $24,814,453.95. Following the completion of the acquisition, the director owned 1,886,236 shares in the company, valued at approximately $126,132,601.32. This represents a 24.49% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James Mulay sold 24,165 shares of CG Oncology stock in a transaction that occurred on Friday, July 10th. The shares were 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 trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 37,129 shares of company stock valued at $2,663,817. 4.80% of the stock is currently owned by insiders.

About CG Oncology

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.