Elmind Capital LP Invests $20.45 Million in CG Oncology, Inc. $CGON

Key Points

• Elmind Capital LP bought a new stake in CG Oncology during the fourth quarter, purchasing 492,500 shares valued at about $20.45 million. The position represents 6.0% of the fund’s portfolio and 0.61% of CG Oncology.
• Institutional ownership remains active, with several firms increasing holdings in recent quarters; overall, 26.56% of the stock is owned by institutional investors and hedge funds.
• CG Oncology reported a quarterly loss of $0.71 per share, wider than analysts expected, though revenue of $1.08 million topped estimates. Analysts still view the stock favorably overall, with a Moderate Buy consensus and average target price of $81.73.

Elmind Capital LP purchased a new position in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 492,500 shares of the company's stock, valued at approximately $20,449,000. CG Oncology accounts for 6.0% of Elmind Capital LP's portfolio, making the stock its 6th biggest holding. Elmind Capital LP owned 0.61% of CG Oncology at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CGON. AQR Capital Management LLC acquired a new position in CG Oncology during the first quarter worth about $475,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in CG Oncology by 18.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,522 shares of the company's stock worth $876,000 after buying an additional 5,442 shares during the period. Millennium Management LLC grew its position in CG Oncology by 139.4% during the first quarter. Millennium Management LLC now owns 596,056 shares of the company's stock worth $14,597,000 after buying an additional 347,055 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in CG Oncology by 42.5% during the first 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 period. Finally, Legal & General Group Plc grew its position in CG Oncology by 12.3% during the second 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 period. 26.56% of the stock is currently owned by institutional investors and hedge funds.

CG Oncology Stock Performance

Shares of CGON opened at $60.43 on Thursday. The company has a market capitalization of $5.33 billion, a price-to-earnings ratio of -25.94 and a beta of 0.31. The company's 50 day simple moving average is $64.60 and its 200 day simple moving average is $56.95. CG Oncology, Inc. has a 1 year low of $23.65 and a 1 year high of $75.50.

CG Oncology (NASDAQ:CGON - Get Free Report) last announced its quarterly earnings data 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 analyst estimates of $0.45 million. Equities analysts expect that CG Oncology, Inc. will post -2.89 EPS for the current fiscal year.

Analyst Ratings Changes

CGON has been the topic of several recent analyst reports. HC Wainwright restated a "buy" rating and set a $100.00 target price on shares of CG Oncology in a research report on Monday, May 18th. Wolfe Research initiated coverage on shares of CG Oncology in a research report on Tuesday, May 19th. They set a "peer perform" rating on the stock. Royal Bank Of Canada upped their target price on shares of CG Oncology from $79.00 to $81.00 and gave the stock an "outperform" rating in a research report on Monday, May 11th. Weiss Ratings restated a "sell (d-)" rating on shares of CG Oncology in a research report on Monday, April 20th. Finally, Wedbush upped their target price on shares of CG Oncology from $77.00 to $80.00 and gave the stock an "outperform" rating in a research report on Monday, May 11th. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $81.73.

Insider Activity at CG Oncology

In related news, Director Leonard E. Post sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $54.50, for a total transaction of $54,500.00. Following the transaction, the director owned 1,000 shares of the company's stock, valued at approximately $54,500. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James Mulay sold 15,600 shares of the company's stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $73.01, for a total transaction of $1,138,956.00. Following the transaction, the director directly owned 15,600 shares in the company, valued at $1,138,956. The trade was a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 18,564 shares of company stock worth $1,311,532 in the last three months. Insiders own 4.80% of the company's stock.

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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