Elmind Capital LP purchased a new position in shares of CG Oncology, Inc. (NASDAQ:CGON – Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 492,500 shares of the company’s stock, valued at approximately $20,449,000. CG Oncology accounts for about 6.0% of Elmind Capital LP’s investment portfolio, making the stock its 6th largest position.
A number of other large investors also recently bought and sold shares of the stock. Eversept Partners LP purchased a new position in CG Oncology during the fourth quarter worth approximately $12,808,000. Cinctive Capital Management LP raised its stake in CG Oncology by 14.2% during the fourth quarter. Cinctive Capital Management LP now owns 37,171 shares of the company’s stock worth $1,543,000 after purchasing an additional 4,613 shares during the period. Logos Global Management LP purchased a new position in CG Oncology during the fourth quarter worth approximately $8,304,000. ADAR1 Capital Management LLC raised its stake in CG Oncology by 3.7% during the fourth quarter. ADAR1 Capital Management LLC now owns 258,139 shares of the company’s stock worth $10,718,000 after purchasing an additional 9,222 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in CG Oncology by 116.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,443,144 shares of the company’s stock worth $142,961,000 after purchasing an additional 1,854,386 shares during the period. Hedge funds and other institutional investors own 26.56% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on CGON shares. Truist Financial reaffirmed a “buy” rating and set a $82.00 price target (up from $77.00) on shares of CG Oncology in a research note on Thursday, May 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of CG Oncology in a research report on Monday, April 20th. Royal Bank Of Canada increased their price objective on shares of CG Oncology from $79.00 to $81.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Wolfe Research started coverage on shares of CG Oncology in a research report on Tuesday, May 19th. They issued a “peer perform” rating for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $100.00 price objective on shares of CG Oncology in a research report on Monday, May 18th. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $81.73.
Insiders Place Their Bets
In related news, Director Leonard E. Post sold 1,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $54.50, for a total transaction of $54,500.00. Following the completion of the sale, the director directly owned 1,000 shares of the company’s stock, valued at approximately $54,500. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James Mulay sold 1,964 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $60.12, for a total transaction of $118,075.68. Following the sale, the director directly owned 654 shares of the company’s stock, valued at approximately $39,318.48. The trade was a 75.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 18,564 shares of company stock valued at $1,311,532. Company insiders own 4.80% of the company’s stock.
CG Oncology Stock Up 0.2%
CG Oncology stock opened at $60.43 on Thursday. CG Oncology, Inc. has a 52-week low of $23.65 and a 52-week high of $75.50. The firm has a fifty day moving average of $64.60 and a 200-day moving average of $56.95. The firm has a market capitalization of $5.33 billion, a P/E ratio of -25.94 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 (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.13). The firm had revenue of $1.08 million for the quarter, compared to the consensus estimate of $0.45 million. On average, research analysts expect that CG Oncology, Inc. will post -2.89 EPS for the current fiscal year.
About CG Oncology
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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