Sector Gamma AS Acquires New Position in CG Oncology, Inc. $CGON

Sector Gamma AS acquired a new stake in CG Oncology, Inc. (NASDAQ:CGON) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 52,039 shares of the company’s stock, valued at approximately $2,161,000. Sector Gamma AS owned 0.06% of CG Oncology at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of CG Oncology in the fourth quarter valued at about $27,000. Comerica Bank grew its holdings in shares of CG Oncology by 100.4% in the fourth quarter. Comerica Bank now owns 1,028 shares of the company’s stock valued at $43,000 after purchasing an additional 515 shares during the period. Picton Mahoney Asset Management purchased a new stake in shares of CG Oncology in the fourth quarter valued at about $118,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of CG Oncology by 33.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,920 shares of the company’s stock valued at $163,000 after purchasing an additional 972 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake 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 during the period. Hedge funds and other institutional investors own 26.56% of the company’s stock.

CG Oncology Price Performance

Shares of CGON stock opened at $57.64 on Friday. The firm has a market cap of $5.08 billion, a PE ratio of -24.74 and a beta of 0.31. The company has a 50-day moving average of $65.19 and a two-hundred day moving average of $56.52. CG Oncology, Inc. has a 1-year low of $23.65 and a 1-year high of $75.50.

CG Oncology (NASDAQ:CGON) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.13). The firm had revenue of $1.08 million for the quarter, compared to analyst estimates of $0.45 million. Sell-side analysts anticipate that CG Oncology, Inc. will post -2.89 EPS for the current fiscal year.

Insider Activity at CG Oncology

In other news, Director Leonard E. Post sold 1,000 shares of the firm’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 value of $54,500.00. Following the completion of the transaction, the director owned 1,000 shares of the company’s stock, valued at approximately $54,500. This trade 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 the SEC website. Also, Director James Mulay sold 15,600 shares of the firm’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 completion of the transaction, the director directly owned 15,600 shares of the company’s stock, valued at approximately $1,138,956. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 18,564 shares of company stock valued at $1,318,170. Insiders own 4.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CGON. Truist Financial reaffirmed a “buy” rating and set a $82.00 target price (up from $77.00) on shares of CG Oncology in a research note on Thursday, May 14th. Royal Bank Of Canada increased their target price on shares of CG Oncology from $79.00 to $81.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Wall Street Zen lowered shares of CG Oncology from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. JPMorgan Chase & Co. increased their target price 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. Finally, HC Wainwright reaffirmed a “buy” rating and set a $100.00 target price on shares of CG Oncology in a research note on Monday, May 18th. Eleven equities 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.73.

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.