CG Oncology, Inc. $CGON Shares Sold by AMI Asset Management Corp

Key Points

• AMI Asset Management cut its CG Oncology stake by 51.2% in the first quarter, selling 21,080 shares and leaving it with 20,129 shares valued at about $1.36 million.
• Insider activity was mixed, but notably Director Brian Guan-Chyun Liu bought 371,085 shares for about $24.8 million, while Director Leonard E. Post sold 5,000 shares.
• CG Oncology shares were trading around $73.73, near their 52-week high, after the company reported a wider-than-expected quarterly loss despite higher-than-expected revenue; analysts currently rate the stock a Moderate Buy with an average target of $81.73.

AMI Asset Management Corp decreased its holdings in CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 51.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,129 shares of the company's stock after selling 21,080 shares during the period. AMI Asset Management Corp's holdings in CG Oncology were worth $1,362,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of CG Oncology in the 4th quarter valued at approximately $27,000. Comerica Bank lifted its position in shares of CG Oncology by 100.4% during the 4th quarter. Comerica Bank now owns 1,028 shares of the company's stock worth $43,000 after purchasing an additional 515 shares during the last quarter. Picton Mahoney Asset Management purchased a new stake in shares of CG Oncology during the 4th quarter worth $118,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of CG Oncology by 33.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,920 shares of the company's stock worth $163,000 after purchasing an additional 972 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of CG Oncology by 159.2% during the second quarter. Tower Research Capital LLC TRC now owns 6,982 shares of the company's stock worth $182,000 after purchasing an additional 4,288 shares in the last quarter. Hedge funds and other institutional investors own 26.56% of the company's stock.

Insider Buying and Selling at CG Oncology

In other CG Oncology news, Director Brian Guan-Chyun Liu purchased 371,085 shares of the business's stock in a transaction that occurred on Thursday, June 25th. The shares were purchased 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 represents a 24.49% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Leonard E. Post sold 5,000 shares of the company's stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $70.00, for a total transaction of $350,000.00. Following the sale, the director directly owned 5,000 shares of the company's stock, valued at approximately $350,000. This trade represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 28,564 shares of company stock worth $1,986,532 in the last quarter. 4.80% of the stock is owned by insiders.

CG Oncology Trading Up 2.5%

Shares of NASDAQ CGON opened at $73.73 on Tuesday. CG Oncology, Inc. has a 52 week low of $23.65 and a 52 week high of $75.50. The company's 50-day moving average price is $64.55 and its 200 day moving average price is $58.34. The stock has a market cap of $6.50 billion, a price-to-earnings ratio of -31.64 and a beta of 0.31.

CG Oncology (NASDAQ:CGON - Get Free Report) last announced its earnings results on Friday, May 8th. The company reported ($0.71) EPS for the quarter, missing analysts' consensus estimates of ($0.58) by ($0.13). The business had revenue of $1.08 million during the quarter, compared to analysts' expectations of $0.45 million. As a group, research analysts expect that CG Oncology, Inc. will post -2.89 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Wolfe Research started coverage on shares of CG Oncology in a report on Tuesday, May 19th. They set a "peer perform" rating on the stock. Wall Street Zen lowered CG Oncology from a "hold" rating to a "sell" rating in a report on Saturday, April 25th. JPMorgan Chase & Co. lifted their target price on CG Oncology from $91.00 to $96.00 and gave the stock an "overweight" rating in a research report on Monday, May 11th. HC Wainwright reissued a "buy" rating and issued a $100.00 target price on shares of CG Oncology in a report on Monday, May 18th. Finally, Wedbush upped their target price on CG Oncology from $77.00 to $80.00 and gave the company an "outperform" rating in a research report on Monday, May 11th. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, CG Oncology presently has an average 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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