ADAR1 Capital Management LLC Invests $8.43 Million in CG Oncology, Inc. $CGON

Key Points

• ADAR1 Capital Management acquired 118,664 CG Oncology shares worth approximately $8.43 million, while institutional investors collectively own 26.56% of the company.
• Analyst sentiment remains favorable: 11 analysts rate the stock a Buy, with a consensus rating of “Moderate Buy” and an average price target of $83.18.
• CG Oncology shares opened at $78.95, near their 52-week high of $80.97. However, the clinical-stage biotech missed quarterly earnings expectations, reporting a loss of $0.90 per share versus the $0.66 consensus estimate.

ADAR1 Capital Management LLC acquired a new position in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 118,664 shares of the company's stock, valued at approximately $8,431,000. ADAR1 Capital Management LLC owned approximately 0.13% of CG Oncology as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC acquired a new position in shares of CG Oncology during the first quarter worth $475,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of 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 boosted its position in shares of CG Oncology by 139.4% in 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake 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 buying an additional 53,461 shares during the last quarter. Finally, Legal & General Group Plc grew 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 worth $1,153,000 after buying an additional 4,847 shares during the last quarter. Hedge funds and other institutional investors own 26.56% of the company's stock.

Insiders Place Their Bets

In other news, Director James Mulay sold 24,165 shares of the business's stock in a transaction dated 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 completion of the transaction, the director owned 24,165 shares of the company's stock, valued at $1,816,241.40. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Brian Guan-Chyun Liu bought 371,085 shares of the stock in a transaction dated Thursday, June 25th. The stock was bought at an average price of $66.87 per share, for a total transaction of $24,814,453.95. Following the purchase, the director directly owned 1,886,236 shares of the company's stock, valued at approximately $126,132,601.32. The trade was a 24.49% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have sold 38,129 shares of company stock valued at $2,738,357. Company insiders own 4.80% of the company's stock.

Analyst Upgrades and Downgrades

CGON has been the subject of a number of research analyst reports. Piper Sandler increased their price target on CG Oncology from $82.00 to $85.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Royal Bank Of Canada dropped their price target on CG Oncology from $81.00 to $79.00 and set an "outperform" rating on the stock in a research note on Friday, August 7th. HC Wainwright restated a "buy" rating and set a $100.00 price objective on shares of CG Oncology in a report on Wednesday, July 29th. Wolfe Research began coverage on shares of CG Oncology in a research report on Tuesday, May 19th. They issued a "peer perform" rating for the company. Finally, Truist Financial lifted their target price on shares of CG Oncology from $82.00 to $85.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, CG Oncology currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.18.

CG Oncology Stock Up 0.9%

Shares of NASDAQ CGON opened at $78.95 on Wednesday. The business's 50 day moving average price is $72.06 and its 200 day moving average price is $65.99. The firm has a market cap of $7.00 billion, a P/E ratio of -29.35 and a beta of 0.23. CG Oncology, Inc. has a 52 week low of $25.25 and a 52 week high of $80.97.

CG Oncology (NASDAQ:CGON - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.24). CG Oncology had a negative return on equity of 25.20% and a negative net margin of 3,602.68%.The business had revenue of $1.16 million during the quarter, compared to analyst estimates of $0.36 million. As a group, research analysts expect that CG Oncology, Inc. will post -3.27 earnings per share for the current 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.

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