Sector Gamma AS bought a new stake in CG Oncology, Inc. (NASDAQ:CGON – Free Report) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 52,039 shares of the company’s stock, valued at approximately $2,161,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. acquired a new stake in CG Oncology in the fourth quarter valued at approximately $27,000. Comerica Bank raised its holdings in CG Oncology by 100.4% in the fourth quarter. Comerica Bank now owns 1,028 shares of the company’s stock valued at $43,000 after acquiring an additional 515 shares in the last quarter. Picton Mahoney Asset Management acquired a new stake in CG Oncology in the fourth quarter valued at approximately $118,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in CG Oncology by 33.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,920 shares of the company’s stock valued at $163,000 after acquiring an additional 972 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in CG Oncology by 159.2% in the second quarter. Tower Research Capital LLC TRC now owns 6,982 shares of the company’s stock valued at $182,000 after acquiring an additional 4,288 shares in the last quarter. Institutional investors and hedge funds own 26.56% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 target price on shares of CG Oncology in a report on Monday, May 18th. Wolfe Research assumed coverage on shares of CG Oncology in a report on Tuesday, May 19th. They issued a “peer perform” rating on the stock. Royal Bank Of Canada raised their target price on shares of CG Oncology from $79.00 to $81.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Wedbush raised their price objective on shares of CG Oncology from $77.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Finally, Truist Financial reissued a “buy” rating and set a $82.00 price objective (up from $77.00) on shares of CG Oncology in a report on Thursday, May 14th. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, CG Oncology has an average rating of “Moderate Buy” and an average target price of $81.73.
Insider Buying and Selling
In other CG Oncology news, Director James Mulay sold 15,600 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $73.01, for a total transaction of $1,138,956.00. Following the sale, the director owned 15,600 shares of the company’s stock, valued at approximately $1,138,956. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Leonard E. Post sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $54.50, for a total transaction of $54,500.00. Following the sale, the director directly owned 1,000 shares in the company, valued at approximately $54,500. The trade was a 50.00% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 18,564 shares of company stock worth $1,318,170. 4.80% of the stock is owned by corporate insiders.
CG Oncology Trading Up 5.0%
CGON stock opened at $57.64 on Friday. CG Oncology, Inc. has a twelve month low of $23.65 and a twelve month high of $75.50. The company’s 50 day moving average is $65.19 and its two-hundred day moving average is $56.52. The stock has a market cap of $5.08 billion, a P/E ratio of -24.74 and a beta of 0.31.
CG Oncology (NASDAQ:CGON – Get Free Report) last released its quarterly earnings data on Friday, May 8th. The company reported ($0.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.13). The business had revenue of $1.08 million for the quarter, compared to the consensus estimate of $0.45 million. On average, equities research analysts predict that CG Oncology, Inc. will post -2.89 earnings per share 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.
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