Orbimed Advisors LLC Has $64.18 Million Holdings in CG Oncology, Inc. $CGON

Key Points

• Orbimed Advisors reduced its CG Oncology stake by 37.5%, selling 568,283 shares and retaining 948,267 shares worth approximately $64.18 million. Institutional investors and hedge funds collectively own 26.56% of the company.
• Company insiders sold 37,129 shares worth about $2.66 million during the last quarter, including substantial reductions by directors James Mulay and Leonard E. Post.
• Analysts maintain a generally positive outlook, with 11 Buy ratings, two Holds and one Sell, producing a “Moderate Buy” consensus and an average price target of $81.73. CG Oncology recently reported a quarterly EPS loss of $0.71, missing estimates, despite revenue of $1.08 million exceeding expectations.

Orbimed Advisors LLC cut its position in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 37.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 948,267 shares of the company's stock after selling 568,283 shares during the period. CG Oncology comprises about 1.2% of Orbimed Advisors LLC's investment portfolio, making the stock its 21st largest position. Orbimed Advisors LLC owned about 1.08% of CG Oncology worth $64,179,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CGON. NFSG Corp bought a new position in CG Oncology in the first quarter worth $34,000. Comerica Bank increased its holdings in CG Oncology by 100.4% in the 4th quarter. Comerica Bank now owns 1,028 shares of the company's stock valued at $43,000 after buying an additional 515 shares during the period. LPL Financial LLC raised its stake in shares of CG Oncology by 9.8% in the 4th quarter. LPL Financial LLC now owns 6,201 shares of the company's stock valued at $257,000 after buying an additional 551 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of CG Oncology in the 4th quarter valued at $27,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of CG Oncology by 33.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,920 shares of the company's stock worth $163,000 after acquiring an additional 972 shares during the period. 26.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CG Oncology

In related news, Director James Mulay sold 24,165 shares of the company'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 completion of the sale, the director owned 24,165 shares in the company, valued at approximately $1,816,241.40. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Leonard E. Post sold 5,000 shares of the stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $70.00, for a total value of $350,000.00. Following the completion of the sale, the director owned 5,000 shares of the company's stock, valued at $350,000. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 37,129 shares of company stock worth $2,663,817 in the last quarter. 4.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of CG Oncology in a research report on Friday, July 17th. JPMorgan Chase & Co. raised their price target on shares of CG Oncology from $91.00 to $96.00 and gave the stock an "overweight" rating in a research note on Monday, May 11th. Truist Financial reaffirmed a "buy" rating and set a $82.00 price objective (up from $77.00) on shares of CG Oncology in a report on Thursday, May 14th. Royal Bank Of Canada upped their price objective on CG Oncology from $79.00 to $81.00 and gave the company an "outperform" rating in a research note on Monday, May 11th. Finally, Wedbush increased their target price on CG Oncology from $77.00 to $80.00 and gave the stock an "outperform" rating in a report on Monday, May 11th. 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's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $81.73.

CG Oncology Stock Performance

Shares of CG Oncology stock opened at $69.32 on Monday. The stock has a market capitalization of $6.11 billion, a price-to-earnings ratio of -29.75 and a beta of 0.22. The firm's 50-day moving average price is $65.27 and its two-hundred day moving average price is $62.47. CG Oncology, Inc. has a 1-year low of $23.65 and a 1-year high of $77.00.

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

About CG Oncology

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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