ADAR1 Capital Management LLC Sells 72,440 Shares of CG Oncology, Inc. $CGON

ADAR1 Capital Management LLC trimmed its position in CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 28.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 185,699 shares of the company's stock after selling 72,440 shares during the quarter. ADAR1 Capital Management LLC owned 0.21% of CG Oncology worth $12,568,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of CG Oncology during the fourth quarter worth about $27,000. NFSG Corp purchased a new stake in CG Oncology in the 1st quarter worth approximately $34,000. Comerica Bank lifted its holdings in CG Oncology by 100.4% in the 4th quarter. Comerica Bank now owns 1,028 shares of the company's stock worth $43,000 after buying an additional 515 shares during the period. Fifth Third Bancorp bought a new stake in shares of CG Oncology in the 1st quarter worth approximately $74,000. Finally, KBC Group NV bought a new stake in shares of CG Oncology in the 1st quarter worth approximately $78,000. 26.56% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Brian Guan-Chyun Liu acquired 371,085 shares of CG Oncology stock in a transaction that occurred on Thursday, June 25th. The stock was bought at an average price of $66.87 per share, with a total value of $24,814,453.95. Following the transaction, the director directly owned 1,886,236 shares in the company, valued at approximately $126,132,601.32. This represents a 24.49% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Leonard E. Post sold 5,000 shares of CG Oncology stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $70.00, for a total value of $350,000.00. Following the transaction, the director owned 5,000 shares of the company's stock, valued at $350,000. The trade was a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 37,129 shares of company stock worth $2,663,817. Insiders own 4.80% of the company's stock.

CG Oncology Trading Down 1.2%

Shares of CGON stock opened at $72.62 on Wednesday. The company's fifty day moving average price is $65.67 and its 200-day moving average price is $62.92. The stock has a market cap of $6.41 billion, a PE ratio of -31.17 and a beta of 0.22. CG Oncology, Inc. has a 12 month low of $23.65 and a 12 month high of $77.00.

CG Oncology (NASDAQ:CGON - Get Free Report) last issued its quarterly earnings results on Friday, May 8th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.13). The company had revenue of $1.08 million for the quarter, compared to the consensus estimate of $0.45 million. On average, sell-side analysts forecast that CG Oncology, Inc. will post -2.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on CGON shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of CG Oncology in a report on Friday, July 17th. Wedbush upped their price objective on shares of CG Oncology from $77.00 to $80.00 and gave the stock an "outperform" rating in a report on Monday, May 11th. Wolfe Research initiated coverage on shares of CG Oncology in a research report on Tuesday, May 19th. They issued a "peer perform" rating for the company. Royal Bank Of Canada lifted their target price on shares of CG Oncology from $79.00 to $81.00 and gave the company an "outperform" rating in a research note on Monday, May 11th. Finally, Wall Street Zen cut shares of CG Oncology from a "hold" rating to a "sell" rating in a research report on Saturday, April 25th. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, CG Oncology presently has a consensus rating of "Moderate Buy" and an average price target 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.

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