Orbimed Advisors LLC Sells 568,283 Shares of CG Oncology, Inc. $CGON

Orbimed Advisors LLC lessened its position in CG Oncology, Inc. (NASDAQ:CGON) by 37.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 948,267 shares of the company’s stock after selling 568,283 shares during the quarter. CG Oncology makes up about 1.2% of Orbimed Advisors LLC’s portfolio, making the stock its 21st biggest position. Orbimed Advisors LLC’s holdings in CG Oncology were worth $64,179,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of CGON. Whittier Trust Co. of Nevada Inc. bought a new position in shares of CG Oncology during the 4th quarter worth approximately $27,000. NFSG Corp acquired a new stake in shares of CG Oncology in the first quarter valued at approximately $34,000. Comerica Bank lifted its position in shares of CG Oncology by 100.4% in the fourth quarter. Comerica Bank now owns 1,028 shares of the company’s stock worth $43,000 after purchasing an additional 515 shares in the last quarter. Fifth Third Bancorp bought a new stake in shares of CG Oncology in the first quarter worth $74,000. Finally, KBC Group NV acquired a new position in CG Oncology during the first quarter worth $78,000. Institutional investors own 26.56% of the company’s stock.

Insider Buying and Selling

In other CG Oncology news, Director Brian Guan-Chyun Liu purchased 371,085 shares of CG Oncology stock in a transaction that occurred on Thursday, June 25th. The stock was acquired at an average price of $66.87 per share, for a total transaction of $24,814,453.95. Following the completion of the acquisition, the director owned 1,886,236 shares of the company’s stock, valued at approximately $126,132,601.32. This trade represents a 24.49% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James Mulay sold 24,165 shares of the business’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $75.16, for a total value of $1,816,241.40. Following the transaction, the director directly owned 24,165 shares in the company, valued at approximately $1,816,241.40. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 37,129 shares of company stock worth $2,663,817. Company insiders own 4.80% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on CGON shares. Truist Financial reaffirmed a “buy” rating and issued a $82.00 target price (up from $77.00) on shares of CG Oncology in a research report on Thursday, May 14th. Wall Street Zen cut shares of CG Oncology from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. 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 note on Monday, May 11th. Wedbush raised their price objective on CG Oncology from $77.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CG Oncology in a research report on Friday, July 17th. Eleven equities research 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 MarketBeat.com, CG Oncology has an average rating of “Moderate Buy” and an average price target of $81.73.

CG Oncology Price Performance

Shares of CGON stock opened at $69.32 on Monday. The stock has a market cap of $6.11 billion, a P/E ratio of -29.75 and a beta of 0.22. The company has a fifty day moving average price of $65.27 and a two-hundred day moving average price of $62.47. CG Oncology, Inc. has a one year low of $23.65 and a one year high of $77.00.

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 firm had revenue of $1.08 million for the quarter, compared to the consensus estimate of $0.45 million. As a group, equities research analysts anticipate that CG Oncology, Inc. will post -2.89 EPS for the current fiscal year.

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.