Eversept Partners LP Takes Position in CG Oncology, Inc. $CGON

Eversept Partners LP bought a new stake in CG Oncology, Inc. (NASDAQ:CGON) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 308,466 shares of the company’s stock, valued at approximately $12,808,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of CG Oncology in the 4th quarter valued at about $27,000. Comerica Bank lifted its stake in shares of CG Oncology by 100.4% in the 4th quarter. Comerica Bank now owns 1,028 shares of the company’s stock valued at $43,000 after acquiring an additional 515 shares during the last quarter. Picton Mahoney Asset Management bought a new stake in shares of CG Oncology in the 4th quarter valued at about $118,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of CG Oncology by 33.0% in the 4th 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 during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of CG Oncology by 159.2% in the 2nd 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 during the last quarter. Institutional investors own 26.56% of the company’s stock.

Insider Activity at CG Oncology

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the company’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 transaction, the director owned 1,000 shares in the company, valued at approximately $54,500. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Mulay sold 1,964 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $60.12, for a total value of $118,075.68. Following the transaction, the director owned 654 shares in the company, valued at $39,318.48. This trade represents a 75.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders 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 Performance

NASDAQ CGON opened at $60.43 on Thursday. CG Oncology, Inc. has a fifty-two week low of $23.65 and a fifty-two week high of $75.50. The stock has a 50 day simple moving average of $64.60 and a two-hundred day simple moving average of $56.95. The stock has a market cap of $5.33 billion, a P/E ratio of -25.94 and a beta of 0.31.

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CGON. Weiss Ratings reissued a “sell (d-)” rating on shares of CG Oncology in a research note on Monday, April 20th. JPMorgan Chase & Co. boosted their target price on CG Oncology from $91.00 to $96.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Wedbush upped their price target on CG Oncology from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. HC Wainwright reaffirmed a “buy” rating and set a $100.00 price target on shares of CG Oncology in a research report on Monday, May 18th. Finally, Truist Financial reiterated a “buy” rating and issued a $82.00 price objective (up from $77.00) on shares of CG Oncology in a report on Thursday, May 14th. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $81.73.

CG Oncology Company 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.