Wellington Management Group LLP Purchases 1,400,251 Shares of CG Oncology, Inc. (NASDAQ:CGON)

Wellington Management Group LLP lifted its holdings in CG Oncology, Inc. (NASDAQ:CGON) by 274.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,910,470 shares of the company’s stock after acquiring an additional 1,400,251 shares during the period. Wellington Management Group LLP owned approximately 2.51% of CG Oncology worth $54,792,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NEOS Investment Management LLC increased its holdings in CG Oncology by 10.9% in the fourth quarter. NEOS Investment Management LLC now owns 8,329 shares of the company’s stock worth $239,000 after purchasing an additional 817 shares in the last quarter. Rhumbline Advisers increased its stake in shares of CG Oncology by 2.2% in the 4th quarter. Rhumbline Advisers now owns 69,016 shares of the company’s stock valued at $1,979,000 after acquiring an additional 1,458 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of CG Oncology by 16.7% during the 4th quarter. New York State Common Retirement Fund now owns 13,996 shares of the company’s stock valued at $401,000 after acquiring an additional 2,000 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in CG Oncology during the fourth quarter worth $68,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in CG Oncology in the fourth quarter worth $100,000. 26.56% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CG Oncology

In related news, Director Leonard E. Post sold 1,000 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $29.66, for a total transaction of $29,660.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

CG Oncology Stock Down 8.2 %

CGON stock opened at $17.20 on Friday. The firm has a market capitalization of $1.31 billion, a PE ratio of -12.11 and a beta of 1.24. CG Oncology, Inc. has a twelve month low of $16.64 and a twelve month high of $46.99. The stock’s 50 day moving average is $26.99 and its 200-day moving average is $31.30.

CG Oncology (NASDAQ:CGON) last posted its quarterly earnings data on Tuesday, March 25th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.11). The firm had revenue of $0.46 million for the quarter, compared to analysts’ expectations of $0.11 million. CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. On average, equities research analysts anticipate that CG Oncology, Inc. will post -1.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CGON shares. Morgan Stanley reiterated an “overweight” rating and set a $55.00 price objective on shares of CG Oncology in a report on Friday, March 7th. TD Cowen assumed coverage on CG Oncology in a report on Tuesday, January 7th. They issued a “buy” rating on the stock. Finally, HC Wainwright restated a “buy” rating and set a $75.00 price objective on shares of CG Oncology in a report on Monday, March 31st. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, CG Oncology has a consensus rating of “Buy” and an average price target of $63.88.

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.