Seven Fleet Capital Management LP Buys New Position in CG Oncology, Inc. $CGON

Seven Fleet Capital Management LP purchased a new position in CG Oncology, Inc. (NASDAQ:CGON) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,515,151 shares of the company’s stock, valued at approximately $62,909,000. CG Oncology accounts for about 47.8% of Seven Fleet Capital Management LP’s portfolio, making the stock its biggest position.

Several other large investors have also added to or reduced their stakes in CGON. T. Rowe Price Investment Management Inc. purchased a new position in CG Oncology during the 4th quarter valued at $17,547,000. Invesco Ltd. lifted its position in shares of CG Oncology by 10.9% in the 4th quarter. Invesco Ltd. now owns 38,140 shares of the company’s stock worth $1,584,000 after purchasing an additional 3,761 shares during the period. ADAR1 Capital Management LLC lifted its position in shares of CG Oncology by 3.7% in the 4th 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. XTX Topco Ltd bought a new stake in shares of CG Oncology during the 4th quarter valued at about $1,400,000. Finally, Virtus Investment Advisers LLC boosted its stake in shares of CG Oncology by 51.3% during the 4th quarter. Virtus Investment Advisers LLC now owns 6,497 shares of the company’s stock valued at $270,000 after purchasing an additional 2,203 shares in the last quarter. Institutional investors own 26.56% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CGON shares. Wolfe Research initiated coverage on shares of CG Oncology in a research note on Tuesday, May 19th. They issued a “peer perform” rating for the company. HC Wainwright reiterated a “buy” rating and set a $100.00 target price on shares of CG Oncology in a report on Monday, May 18th. Wall Street Zen cut shares of CG Oncology from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. Royal Bank Of Canada upped their price objective on CG Oncology from $79.00 to $81.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Finally, Truist Financial restated a “buy” rating and issued a $82.00 price target (up from $77.00) on shares of CG Oncology in a research note on Thursday, May 14th. Eleven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $81.73.

CG Oncology Trading Up 1.1%

CGON opened at $61.08 on Friday. The company’s 50 day moving average is $64.43 and its 200 day moving average is $57.07. The company has a market cap of $5.39 billion, a price-to-earnings ratio of -26.21 and a beta of 0.31. CG Oncology, Inc. has a 12-month low of $23.65 and a 12-month high of $75.50.

CG Oncology (NASDAQ:CGON) last posted 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 firm had revenue of $1.08 million during the quarter, compared to analysts’ expectations of $0.45 million. As a group, analysts predict that CG Oncology, Inc. will post -2.89 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $54.50, for a total transaction of $54,500.00. Following the completion of the sale, the director owned 1,000 shares in the company, valued at approximately $54,500. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James Mulay sold 15,600 shares of the 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 directly 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. Additional details regarding this sale are available in the official SEC disclosure. Over 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.

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.