Jennison Associates LLC Invests $11.73 Million in CG Oncology, Inc. $CGON

Jennison Associates LLC acquired a new position in CG Oncology, Inc. (NASDAQ:CGON) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 282,506 shares of the company’s stock, valued at approximately $11,730,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Whittier Trust Co. of Nevada Inc. bought a new position in CG Oncology during the fourth quarter worth $27,000. Strengthening Families & Communities LLC bought a new position in CG Oncology during the third quarter worth $40,000. Comerica Bank increased its position in CG Oncology by 100.4% during the fourth quarter. Comerica Bank now owns 1,028 shares of the company’s stock worth $43,000 after acquiring an additional 515 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in CG Oncology by 33.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,920 shares of the company’s stock worth $163,000 after acquiring an additional 972 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in CG Oncology by 159.2% during the second quarter. Tower Research Capital LLC TRC now owns 6,982 shares of the company’s stock worth $182,000 after acquiring an additional 4,288 shares during the period. 26.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CGON has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of CG Oncology from $65.00 to $91.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CG Oncology in a research report on Monday, April 20th. Truist Financial boosted their target price on shares of CG Oncology from $66.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Piper Sandler boosted their target price on shares of CG Oncology from $55.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Finally, Wall Street Zen lowered shares of CG Oncology from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. Eleven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.55.

CG Oncology Price Performance

Shares of CG Oncology stock opened at $66.27 on Friday. The firm has a market capitalization of $5.83 billion, a PE ratio of -32.01 and a beta of 0.42. The company’s fifty day moving average price is $65.06 and its two-hundred day moving average price is $52.26. CG Oncology, Inc. has a 52-week low of $21.00 and a 52-week high of $73.56.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings results on Friday, February 27th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.10. The business had revenue of $2.32 million during the quarter. Analysts predict that CG Oncology, Inc. will post -2.56 earnings per share for the current fiscal year.

Insider Transactions at CG Oncology

In other CG Oncology news, Director James Mulay sold 15,600 shares of the business’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $73.01, for a total value of $1,138,956.00. Following the sale, the director owned 15,600 shares of the company’s stock, valued at $1,138,956. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 7.40% of the stock is owned by company insiders.

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.