TimesSquare Capital Management LLC Increases Stake in CG Oncology, Inc.

TimesSquare Capital Management LLC has recently elevated its ownership in CG Oncology, Inc. (NASDAQ:CGON) by 25.1% during the fourth quarter, based on their latest filing with the Securities and Exchange Commission (SEC). Following this acquisition, TimesSquare Capital Management now holds a total of 546,904 shares of CG Oncology's stock, having purchased an additional 109,835 shares during this period. As reported, the firm's total investment in CG Oncology is valued at approximately $15,685,000, which accounts for about 0.72% of the company.

Other Institutional Investments

In addition to TimesSquare’s involvement, several other hedge funds have also entered or adjusted their positions in CG Oncology. For instance, State Street Corp increased its stake by a notable 73.0% during the third quarter, acquiring a total of 1,700,653 shares valued at $64,166,000, which includes an additional purchase of 717,722 shares. Similarly, Ally Bridge Group NY LLC enhanced its position by 50.5% in the same quarter, bringing their total to 263,266 shares valued at $9,933,000 after acquiring 88,390 shares. Furthermore, Charles Schwab Investment Management Inc. raised its holding by 114.0%, now owning 379,664 shares valued at $14,325,000, while BNP Paribas Financial Markets expanded its stake by an impressive 876.9%, owning 26,660 shares worth $1,006,000 after acquiring 23,931 shares. Lastly, JPMorgan Chase & Co. increased its stake by 59.1%, holding 31,071 shares valued at $1,172,000. Altogether, institutional investors now own about 26.56% of CG Oncology’s stock.

Current Stock Performance

On Thursday, CG Oncology's stock opened at $27.52. The company's fifty-day moving average stands at $29.23, while the two-hundred-day moving average is $33.46. Over the past year, CG Oncology has experienced fluctuations in its stock price, with a low of $25.77 and a high of $48.60.

Analyst Ratings and Predictions

Recent research notes have highlighted CG Oncology as a stock worth watching. TD Cowen commenced coverage on CG Oncology shares on January 7th, issuing a "buy" rating. HC Wainwright also reaffirmed a "buy" rating with a price target of $75.00 on January 10th. UBS Group initiated coverage on the stock with a buy rating and a price target of $60.00. Moreover, Royal Bank of Canada maintained an "outperform" rating with a price objective of $66.00 in early December. Overall, the consensus among analysts is favorable, with nine analysts rated the stock as a buy and one assigning a strong buy rating, resulting in an average target price of $63.88 as per MarketBeat.com.

Insider Trading Activity

In related news, CG Oncology Director Hong Fang Song sold 700,000 shares on December 16th at an average price of $28.00, totaling $19,600,000. Following this transaction, the director now holds 3,003,931 shares, valued at approximately $84,110,068. This sale reflects an 18.90% decrease in their holdings of the company's stock. Another director, Leonard E. Post, sold 1,000 shares on December 6th for a total of $34,540. Over the last three months, insiders have sold 702,000 shares with a combined value of about $19,664,200.

Overview of CG Oncology

CG Oncology, Inc. is an oncolytic immunotherapy company focused on developing treatment options for bladder cancer patients. The company is working on several key therapies, including BOND-003, aimed at patients with high-risk bacillus calmette guerin (BCG)-unresponsive non-muscle invasive bladder cancer (NMIBC), CORE-001, which combines cretostimogene with pembrolizumab for high-risk BCG-unresponsive NMIBC, and CORE-002 for muscle invasive bladder cancer patients treated with nivolumab.

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