Stempoint Capital LP Buys New Position in CG Oncology, Inc. $CGON

Stempoint Capital LP purchased a new stake in CG Oncology, Inc. (NASDAQ:CGON) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 205,622 shares of the company’s stock, valued at approximately $13,916,000. CG Oncology comprises 2.7% of Stempoint Capital LP’s holdings, making the stock its 11th biggest holding.

Several other institutional investors have also added to or reduced their stakes in the business. AQR Capital Management LLC acquired a new position in shares of CG Oncology during the first quarter valued at about $475,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in CG Oncology by 18.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,522 shares of the company’s stock worth $876,000 after purchasing an additional 5,442 shares in the last quarter. Millennium Management LLC grew its position in CG Oncology by 139.4% during the 1st quarter. Millennium Management LLC now owns 596,056 shares of the company’s stock worth $14,597,000 after purchasing an additional 347,055 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in CG Oncology by 42.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 179,363 shares of the company’s stock worth $4,393,000 after purchasing an additional 53,461 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in CG Oncology by 12.3% during the 2nd quarter. Legal & General Group Plc now owns 44,354 shares of the company’s stock valued at $1,153,000 after purchasing an additional 4,847 shares in the last quarter. Institutional investors and hedge funds own 26.56% of the company’s stock.

Analyst Ratings Changes

CGON has been the subject of a number of research analyst reports. Wedbush raised their price target 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. HC Wainwright reissued a “buy” rating and set a $100.00 price objective on shares of CG Oncology in a report on Wednesday. JPMorgan Chase & Co. upped their target price on CG Oncology from $91.00 to $96.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Truist Financial restated a “buy” rating and issued a $82.00 target price (up from $77.00) on shares of CG Oncology in a research note on Thursday, May 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CG Oncology in a research report on Friday, July 17th. Eleven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $81.73.

CG Oncology Trading Down 4.8%

Shares of NASDAQ:CGON opened at $69.12 on Thursday. CG Oncology, Inc. has a twelve month low of $23.65 and a twelve month high of $77.00. The company has a market cap of $6.10 billion, a PE ratio of -29.67 and a beta of 0.22. The company’s 50 day moving average is $65.75 and its 200 day moving average is $63.11.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings data on Friday, May 8th. The company reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.13). The business had revenue of $1.08 million for the quarter, compared to analyst estimates of $0.45 million. Equities research analysts predict that CG Oncology, Inc. will post -2.89 earnings per share for the current fiscal year.

Insider Transactions at CG Oncology

In other CG Oncology news, Director Leonard E. Post sold 5,000 shares of the company’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $70.00, for a total value of $350,000.00. Following the sale, the director directly owned 5,000 shares of the company’s stock, valued at approximately $350,000. This 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 James Mulay sold 24,165 shares of the company’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $75.16, for a total transaction of $1,816,241.40. Following the completion of the sale, the director directly owned 24,165 shares in the company, valued at approximately $1,816,241.40. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 37,129 shares of company stock worth $2,663,817 over the last 90 days. 4.80% of the stock is currently owned by company insiders.

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.