61,729 Shares in CG Oncology, Inc. $CGON Purchased by Alyeska Investment Group L.P.

Key Points

• Alyeska Investment Group purchased 61,729 shares of CG Oncology valued at approximately $4.4 million, while institutional investors and hedge funds collectively own 26.56% of the company.
• CG Oncology shares opened at $75.86, near their 52-week high of $80.97. Analysts maintain a generally positive outlook, with an average “Moderate Buy” rating and an average price target of $83.18.
• The company reported a quarterly loss of $0.90 per share, missing estimates by $0.24, despite revenue of $1.16 million exceeding expectations; insiders have sold roughly $2.7 million of stock over the past 90 days.

Alyeska Investment Group L.P. bought a new stake in CG Oncology, Inc. (NASDAQ:CGON - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 61,729 shares of the company's stock, valued at approximately $4,386,000. Alyeska Investment Group L.P. owned approximately 0.07% of CG Oncology at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CGON. State of New Jersey Common Pension Fund D purchased a new stake in shares of CG Oncology during the 4th quarter worth approximately $606,000. Hsbc Holdings PLC acquired a new stake in shares of CG Oncology in the 1st quarter valued at about $12,708,000. EcoR1 Capital LLC grew its stake in CG Oncology by 3.5% during the 1st quarter. EcoR1 Capital LLC now owns 1,102,000 shares of the company's stock worth $74,583,000 after buying an additional 37,200 shares during the last quarter. Bank of America Corp DE grew its stake in CG Oncology by 21.8% during the 1st quarter. Bank of America Corp DE now owns 1,449,364 shares of the company's stock worth $98,093,000 after buying an additional 259,311 shares during the last quarter. Finally, Jefferies Financial Group Inc. acquired a new position in CG Oncology during the second quarter worth approximately $54,705,000. Institutional investors and hedge funds own 26.56% of the company's stock.

Insider Activity at CG Oncology

In other CG Oncology news, Director James Mulay sold 24,165 shares of the stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $75.16, for a total value of $1,816,241.40. Following the completion of the sale, the director owned 24,165 shares of the company's stock, valued at $1,816,241.40. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Leonard E. Post sold 1,000 shares of the firm's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $74.54, for a total value of $74,540.00. Following the sale, the director owned 1,000 shares of the company's stock, valued at $74,540. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 38,129 shares of company stock worth $2,738,357. 4.80% of the stock is currently owned by company insiders.

CG Oncology Trading Up 0.9%

CG Oncology stock opened at $75.86 on Wednesday. The stock has a 50-day moving average price of $73.42 and a 200 day moving average price of $66.88. CG Oncology, Inc. has a 52 week low of $26.25 and a 52 week high of $80.97. The stock has a market cap of $6.72 billion, a PE ratio of -28.20 and a beta of 0.23.

CG Oncology (NASDAQ:CGON - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.24). The firm had revenue of $1.16 million during the quarter, compared to analysts' expectations of $0.36 million. CG Oncology had a negative return on equity of 25.20% and a negative net margin of 3,602.68%. On average, equities analysts predict that CG Oncology, Inc. will post -3.27 EPS for the current year.

Analysts Set New Price Targets

CGON has been the topic of a number of recent research reports. Wall Street Zen lowered shares of CG Oncology from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 8th. Piper Sandler increased their target price on shares of CG Oncology from $82.00 to $85.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Wolfe Research started coverage on shares of CG Oncology in a research note on Tuesday, May 19th. They set a "peer perform" rating for the company. Wedbush upped their price target on CG Oncology from $77.00 to $80.00 and gave the stock an "outperform" rating in a research note on Monday, May 11th. Finally, Royal Bank Of Canada decreased their price target on CG Oncology from $81.00 to $79.00 and set an "outperform" rating for the company in a report on Friday, August 7th. Eleven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $83.18.

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.

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