AlphaQuest LLC Grows Stake in CG Oncology, Inc. $CGON

AlphaQuest LLC grew its position in shares of CG Oncology, Inc. (NASDAQ:CGON) by 186.0% in the fourth quarter, Holdings Channel reports. The firm owned 38,894 shares of the company’s stock after purchasing an additional 25,294 shares during the period. AlphaQuest LLC’s holdings in CG Oncology were worth $1,615,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of CG Oncology during the 4th quarter worth $27,000. Strengthening Families & Communities LLC bought a new stake in shares of CG Oncology during the 3rd quarter worth $40,000. Comerica Bank lifted its holdings 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 acquiring an additional 515 shares during the last quarter. 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 last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of CG Oncology during the 3rd quarter worth $211,000. 26.56% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CGON. 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. Wall Street Zen downgraded shares of CG Oncology from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. HC Wainwright reaffirmed a “buy” rating and set a $100.00 price objective on shares of CG Oncology in a report on Monday, May 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CG Oncology in a report on Monday, April 20th. Finally, Royal Bank Of Canada lifted their price objective on shares of CG Oncology from $79.00 to $81.00 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 assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $81.73.

CG Oncology Stock Down 1.8%

CG Oncology stock opened at $60.80 on Thursday. The company has a market capitalization of $5.36 billion, a PE ratio of -26.09 and a beta of 0.41. The firm has a fifty day simple moving average of $67.11 and a two-hundred day simple moving average of $55.26. CG Oncology, Inc. has a twelve month low of $23.65 and a twelve month high of $75.50.

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

Insiders Place Their Bets

In other CG Oncology news, Director James Mulay sold 15,600 shares of the business’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $73.01, for a total value of $1,138,956.00. Following the completion of the sale, the director directly owned 15,600 shares of the company’s stock, valued at $1,138,956. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 4.80% of the stock is owned by corporate insiders.

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.