Wellington Management Group LLP Acquires 308,852 Shares of CG Oncology, Inc. (NASDAQ:CGON)

Wellington Management Group LLP lifted its position in CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 153.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 510,219 shares of the company's stock after buying an additional 308,852 shares during the period. Wellington Management Group LLP owned about 0.76% of CG Oncology worth $19,251,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CGON. State Street Corp lifted its stake in CG Oncology by 73.0% in the third quarter. State Street Corp now owns 1,700,653 shares of the company's stock valued at $64,166,000 after buying an additional 717,722 shares in the last quarter. Yu Fan bought a new stake in CG Oncology during the second quarter worth $49,828,000. Janus Henderson Group PLC grew its position in shares of CG Oncology by 7.0% in the 3rd quarter. Janus Henderson Group PLC now owns 1,526,534 shares of the company's stock valued at $57,596,000 after acquiring an additional 99,517 shares during the period. Point72 Asset Management L.P. lifted its stake in CG Oncology by 575.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 746,063 shares of the company's stock valued at $28,149,000 after purchasing an additional 635,653 shares during the last quarter. Finally, TimesSquare Capital Management LLC increased its position in CG Oncology by 27.4% during the third quarter. TimesSquare Capital Management LLC now owns 437,069 shares of the company's stock worth $16,491,000 after buying an additional 94,010 shares during the last quarter. 26.56% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $34.54, for a total transaction of $34,540.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analyst Ratings Changes

CGON has been the topic of several research reports. HC Wainwright reiterated a "buy" rating and issued a $75.00 price objective on shares of CG Oncology in a report on Friday, December 6th. Royal Bank of Canada reiterated an "outperform" rating and set a $66.00 price objective on shares of CG Oncology in a research report on Friday, December 6th. Roth Capital upgraded shares of CG Oncology to a "strong-buy" rating in a research report on Tuesday, August 27th. Roth Mkm initiated coverage on CG Oncology in a report on Tuesday, August 27th. They issued a "buy" rating and a $65.00 price objective for the company. Finally, Bank of America reaffirmed a "buy" rating and issued a $65.00 price target on shares of CG Oncology in a research note on Tuesday, October 8th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $63.88.

CG Oncology Stock Down 0.4 %

Shares of CGON traded down $0.11 during trading hours on Friday, reaching $28.76. The stock had a trading volume of 3,368,234 shares, compared to its average volume of 655,702. CG Oncology, Inc. has a 12 month low of $25.77 and a 12 month high of $50.23. The company's 50-day moving average is $35.23 and its two-hundred day moving average is $34.89.

CG Oncology (NASDAQ:CGON - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.36) by $0.06. The firm had revenue of $0.04 million for the quarter, compared to the consensus estimate of $0.30 million. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. As a group, sell-side analysts anticipate that CG Oncology, Inc. will post -1.32 earnings per share for the current fiscal year.

About CG Oncology

CG Oncology, Inc, an oncolytic immunotherapy company, focuses on developing and commercializing backbone bladder-sparing therapeutics for patients with bladder cancer. The company develops BOND-003 for the treatment of high-risk bacillus calmette guerin (BCG)-unresponsive non-muscle invasive bladder cancer (NMIBC) patients; CORE-001 to treat cretostimogene in combination with pembrolizumab in high-risk BCG-unresponsive NMIBC patients; and CORE-002 for the treatment of cretostimogene in combination with the checkpoint inhibitor nivolumab in muscle invasive bladder cancer patients.