The Manufacturers Life Insurance Company Buys 8,066 Shares of CG Oncology, Inc. $CGON

The Manufacturers Life Insurance Company grew its stake in shares of CG Oncology, Inc. (NASDAQ:CGON) by 6.3% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 136,544 shares of the company’s stock after buying an additional 8,066 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.15% of CG Oncology worth $9,241,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CGON. Whittier Trust Co. of Nevada Inc. bought a new position in CG Oncology during the fourth quarter valued at about $27,000. NFSG Corp acquired a new stake in shares of CG Oncology during the 1st quarter worth approximately $34,000. Comerica Bank increased its position in shares of CG Oncology by 100.4% during the fourth quarter. Comerica Bank now owns 1,028 shares of the company’s stock valued at $43,000 after purchasing an additional 515 shares during the period. Fifth Third Bancorp bought a new stake in shares of CG Oncology during the first quarter valued at approximately $74,000. Finally, KBC Group NV acquired a new stake in CG Oncology during the first quarter worth $78,000. Institutional investors own 26.56% of the company’s stock.

Insider Buying and Selling

In other CG Oncology news, Director Leonard E. Post sold 5,000 shares of the business’s stock in a transaction 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 transaction, the director owned 5,000 shares of the company’s stock, valued at approximately $350,000. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James Mulay sold 24,165 shares of the business’s stock in a transaction on Friday, July 10th. The stock was sold at an average price of $75.16, for a total value of $1,816,241.40. Following the completion of the transaction, the director directly owned 24,165 shares in the company, valued at approximately $1,816,241.40. This represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 37,129 shares of company stock worth $2,663,817 in the last three months. Insiders own 4.80% of the company’s stock.

CG Oncology Stock Down 2.9%

NASDAQ:CGON opened at $69.15 on Tuesday. The firm has a market cap of $6.10 billion, a PE ratio of -29.68 and a beta of 0.23. CG Oncology, Inc. has a 12 month low of $23.65 and a 12 month high of $77.00. The company’s 50-day moving average price is $66.16 and its two-hundred day moving average price is $63.48.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on CGON. Wedbush boosted their price target on shares of CG Oncology from $77.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Royal Bank Of Canada raised their price objective on shares of CG Oncology from $79.00 to $81.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. HC Wainwright reiterated a “buy” rating and set a $100.00 target price on shares of CG Oncology in a research report on Wednesday, July 29th. JPMorgan Chase & Co. upped their target price on shares of CG Oncology from $91.00 to $96.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Finally, Truist Financial reissued a “buy” rating and issued a $82.00 price target (up from $77.00) on shares of CG Oncology in a research report on Thursday, May 14th. Eleven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.