Eversept Partners LP Takes Position in CG Oncology, Inc. $CGON

Key Points

• Eversept Partners LP initiated a new stake in CG Oncology during the fourth quarter, buying 308,466 shares worth about $12.8 million and owning roughly 0.38% of the company.
• CG Oncology reported a quarterly loss of ($0.71) per share, wider than analysts expected, though revenue of $1.08 million came in above estimates.
• Institutional interest remains notable, with 26.56% of the stock held by hedge funds and other institutions, even as some insiders recently sold shares and analyst views remain mixed but lean Moderate Buy.

Eversept Partners LP bought a new position in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 308,466 shares of the company's stock, valued at approximately $12,808,000. Eversept Partners LP owned approximately 0.38% of CG Oncology as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CGON. Whittier Trust Co. of Nevada Inc. purchased a new position in CG Oncology during the fourth quarter worth about $27,000. Comerica Bank grew its position in CG Oncology by 100.4% during the fourth quarter. Comerica Bank now owns 1,028 shares of the company's stock worth $43,000 after buying an additional 515 shares in the last quarter. Picton Mahoney Asset Management purchased a new position in CG Oncology during the fourth quarter worth about $118,000. Mirae Asset Global Investments Co. Ltd. grew its position in 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 buying an additional 972 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in 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 buying an additional 4,288 shares in the last quarter. 26.56% of the stock is currently owned by hedge funds and other institutional investors.

CG Oncology Stock Up 0.2%

Shares of CGON stock opened at $60.43 on Thursday. The business has a 50-day moving average price of $64.60 and a two-hundred day moving average price of $56.95. CG Oncology, Inc. has a 12-month low of $23.65 and a 12-month high of $75.50. The firm has a market cap of $5.33 billion, a P/E ratio of -25.94 and a beta of 0.31.

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 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 EPS for the current fiscal year.

Insider Activity

In other CG Oncology news, Director James Mulay sold 1,964 shares of CG Oncology stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $60.12, for a total transaction of $118,075.68. Following the completion of the sale, the director owned 654 shares of the company's stock, valued at $39,318.48. The trade was a 75.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $54.50, for a total value of $54,500.00. Following the sale, the director directly owned 1,000 shares of the company's stock, valued at approximately $54,500. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 18,564 shares of company stock valued at $1,311,532. Corporate insiders own 4.80% of the company's stock.

Analyst Ratings Changes

CGON has been the subject of several recent analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of CG Oncology in a research report on Monday, April 20th. Wall Street Zen cut CG Oncology from a "hold" rating to a "sell" rating in a research report on Saturday, April 25th. Truist Financial restated a "buy" rating and set a $82.00 target price (up from $77.00) on shares of CG Oncology in a research report on Thursday, May 14th. Royal Bank Of Canada boosted their target price on CG Oncology from $79.00 to $81.00 and gave the stock an "outperform" rating in a research report on Monday, May 11th. Finally, 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. Eleven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently 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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