CG Oncology, Inc. $CGON Shares Purchased by Algert Global LLC

Algert Global LLC raised its holdings in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 140.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,690 shares of the company's stock after acquiring an additional 27,310 shares during the period. Algert Global LLC owned approximately 0.05% of CG Oncology worth $3,317,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Sanctuary Advisors LLC bought a new position in CG Oncology in the 2nd quarter valued at about $427,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of CG Oncology during the second quarter valued at approximately $313,000. E Fund Management Co. Ltd. acquired a new position in shares of CG Oncology during the second quarter valued at approximately $526,000. BlackRock Inc. bought a new stake in CG Oncology during the second quarter worth approximately $444,509,000. Finally, Deutsche Bank AG bought a new stake in CG Oncology during the second quarter worth approximately $14,033,000. Institutional investors own 26.56% of the company's stock.

Insider Activity

In other CG Oncology news, Director Brian Guan-Chyun Liu purchased 371,085 shares of the company's stock in a transaction that occurred on Thursday, June 25th. The shares were purchased at an average cost of $66.87 per share, with a total value of $24,814,453.95. Following the completion of the transaction, the director owned 1,886,236 shares of the company's stock, 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 this link. Also, Director James Mulay sold 24,165 shares of the firm'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 sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 38,129 shares of company stock worth $2,738,357. 4.80% of the stock is owned by corporate insiders.

CG Oncology Trading Down 5.9%

CGON stock opened at $74.34 on Friday. CG Oncology, Inc. has a one year low of $26.22 and a one year high of $80.97. The firm has a market capitalization of $6.59 billion, a PE ratio of -27.64 and a beta of 0.23. The firm has a 50-day moving average of $73.04 and a two-hundred day moving average of $66.46.

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Truist Financial boosted their price objective on CG Oncology from $82.00 to $85.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Wedbush upped their price target on shares of CG Oncology from $77.00 to $80.00 and gave the company an "outperform" rating in a report on Monday, May 11th. Wolfe Research started coverage on shares of CG Oncology in a research report on Tuesday, May 19th. They set a "peer perform" rating for the company. Piper Sandler lifted their price objective 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. Finally, Wall Street Zen downgraded shares of CG Oncology from a "sell" rating to a "strong sell" rating in a report on Saturday, August 8th. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $83.18.

CG Oncology 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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