Legal & General Group Plc Invests $2.85 Million in CG Oncology, Inc. $CGON

Legal & General Group Plc bought a new position in shares of CG Oncology, Inc. (NASDAQ:CGON) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 40,062 shares of the company’s stock, valued at approximately $2,846,000.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in CG Oncology in the second quarter valued at approximately $444,509,000. Wellington Management Group LLP boosted its stake in CG Oncology by 190.3% in the third quarter. Wellington Management Group LLP now owns 5,512,779 shares of the company’s stock valued at $222,055,000 after acquiring an additional 3,613,885 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of CG Oncology by 116.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,443,144 shares of the company’s stock worth $142,961,000 after purchasing an additional 1,854,386 shares in the last quarter. Seven Fleet Capital Management LP acquired a new stake in shares of CG Oncology during the fourth quarter worth about $62,909,000. Finally, Bank of America Corp DE lifted its holdings in shares of CG Oncology by 409.9% in 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 last quarter. Hedge funds and other institutional investors own 26.56% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on CGON. Truist Financial raised their price target on CG Oncology from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. HC Wainwright reissued a “buy” rating and issued a $100.00 price objective on shares of CG Oncology in a report on Wednesday, July 29th. Wolfe Research began coverage on shares of CG Oncology in a research report on Tuesday, May 19th. They set a “peer perform” rating on the stock. Piper Sandler lifted their target price on shares of CG Oncology from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Royal Bank Of Canada decreased their price target on shares of CG Oncology from $81.00 to $79.00 and set an “outperform” rating for the company in a research note on Friday, August 7th. Eleven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $83.18.

Insider Buying and Selling at CG Oncology

In other news, Director Leonard E. Post sold 5,000 shares of the stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $70.00, for a total transaction of $350,000.00. Following the completion of the transaction, the director directly owned 5,000 shares in the company, valued at approximately $350,000. This represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Brian Liu acquired 371,085 shares of CG Oncology stock in a transaction on Thursday, June 25th. The shares were bought at an average price of $66.87 per share, for a total transaction of $24,814,453.95. Following the completion of the purchase, the director directly owned 1,886,236 shares in the company, valued at $126,132,601.32. The trade was a 24.49% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 37,129 shares of company stock valued at $2,683,857 in the last three months. Corporate insiders own 4.80% of the company’s stock.

CG Oncology Stock Performance

Shares of CGON opened at $74.67 on Friday. The stock has a market capitalization of $6.62 billion, a P/E ratio of -27.76 and a beta of 0.24. CG Oncology, Inc. has a 1 year low of $29.85 and a 1 year high of $80.97. The company’s fifty day moving average is $73.63 and its two-hundred day moving average is $67.25.

CG Oncology (NASDAQ:CGON) last released its earnings results 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 for the quarter, compared to analyst estimates of $0.36 million. CG Oncology had a negative return on equity of 25.20% and a negative net margin of 3,602.68%. Sell-side analysts predict that CG Oncology, Inc. will post -3.27 EPS for the current year.

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.