CG Oncology, Inc. $CGON Stake Lifted by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its stake in CG Oncology, Inc. (NASDAQ:CGON) by 321.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 227,879 shares of the company’s stock after buying an additional 173,785 shares during the period. JPMorgan Chase & Co. owned 0.28% of CG Oncology worth $9,179,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CGON. Vanguard Group Inc. grew its position in shares of CG Oncology by 11.4% during the third quarter. Vanguard Group Inc. now owns 6,577,281 shares of the company’s stock worth $264,933,000 after acquiring an additional 670,770 shares during the last quarter. Wellington Management Group LLP lifted its position in CG Oncology by 190.3% in the 3rd quarter. Wellington Management Group LLP now owns 5,512,779 shares of the company’s stock valued at $222,055,000 after purchasing an additional 3,613,885 shares during the last quarter. Alliancebernstein L.P. lifted its position in CG Oncology by 15.0% in the 2nd quarter. Alliancebernstein L.P. now owns 2,164,214 shares of the company’s stock valued at $56,270,000 after purchasing an additional 281,637 shares during the last quarter. Bank of America Corp DE boosted its stake in CG Oncology by 409.9% during the 2nd quarter. Bank of America Corp DE now owns 1,736,769 shares of the company’s stock valued at $45,156,000 after purchasing an additional 1,396,170 shares during the period. Finally, Candriam S.C.A. grew its position in CG Oncology by 35.9% in the 3rd quarter. Candriam S.C.A. now owns 1,037,892 shares of the company’s stock worth $41,806,000 after purchasing an additional 274,312 shares during the last quarter. 26.56% of the stock is currently owned by institutional investors.

CG Oncology Stock Performance

CG Oncology stock opened at $64.62 on Monday. CG Oncology, Inc. has a 52 week low of $14.80 and a 52 week high of $69.35. The stock has a market cap of $5.46 billion, a price-to-earnings ratio of -31.22 and a beta of 1.17. The company’s 50-day moving average price is $58.01 and its two-hundred day moving average price is $47.33.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings results on Friday, February 27th. The company reported ($0.51) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.10. The company had revenue of $2.32 million during the quarter. Research analysts expect that CG Oncology, Inc. will post -1.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on CGON. Morgan Stanley set a $93.00 price target on shares of CG Oncology in a research note on Friday, January 9th. Wedbush began coverage on CG Oncology in a research report on Thursday, December 11th. They set an “outperform” rating and a $70.00 price objective for the company. Wall Street Zen lowered CG Oncology from a “hold” rating to a “sell” rating in a report on Saturday. The Goldman Sachs Group restated a “buy” rating and issued a $82.00 target price on shares of CG Oncology in a research report on Monday, January 12th. Finally, Piper Sandler lifted their target price on CG Oncology from $55.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Eleven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $69.00.

Insider Buying and Selling

In related news, Director James Mulay sold 1,964 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $63.50, for a total transaction of $124,714.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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.