AlphaQuest LLC Acquires New Shares in CG Oncology, Inc. $CGON

AlphaQuest LLC bought a new position in CG Oncology, Inc. (NASDAQ:CGON) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 13,600 shares of the company’s stock, valued at approximately $548,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Winthrop Capital Management LLC bought a new stake in shares of CG Oncology in the 2nd quarter valued at approximately $38,000. Mirae Asset Global Investments Co. Ltd. grew its position in CG Oncology by 15.6% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,945 shares of the company’s stock worth $77,000 after acquiring an additional 398 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of CG Oncology by 15.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,279 shares of the company’s stock worth $85,000 after purchasing an additional 433 shares during the last quarter. CWM LLC increased its stake in shares of CG Oncology by 193.5% during the 2nd quarter. CWM LLC now owns 6,193 shares of the company’s stock worth $161,000 after purchasing an additional 4,083 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of CG Oncology by 159.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,982 shares of the company’s stock valued at $182,000 after purchasing an additional 4,288 shares in the last quarter. 26.56% of the stock is owned by hedge funds and other institutional investors.

CG Oncology Price Performance

NASDAQ:CGON opened at $51.98 on Thursday. The stock has a market cap of $4.19 billion, a P/E ratio of -25.48 and a beta of 1.32. The company has a fifty day moving average price of $46.07 and a 200 day moving average price of $38.82. CG Oncology, Inc. has a one year low of $14.80 and a one year high of $57.88.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings data on Friday, November 14th. The company reported ($0.57) EPS for the quarter, meeting analysts’ consensus estimates of ($0.57). The company had revenue of $0.16 million for the quarter, compared to analyst estimates of $0.07 million. As a group, equities research analysts anticipate that CG Oncology, Inc. will post -1.31 EPS for the current year.

Insider Activity at CG Oncology

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $41.43, for a total value of $41,430.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James Mulay sold 11,145 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $52.47, for a total value of $584,778.15. The disclosure for this sale is available in the SEC filing. Corporate insiders own 7.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CGON shares. Royal Bank Of Canada upped their price objective on shares of CG Oncology from $61.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. The Goldman Sachs Group reiterated a “buy” rating and set a $82.00 price target on shares of CG Oncology in a research note on Monday, January 12th. Wedbush began coverage on CG Oncology in a research note on Thursday, December 11th. They issued an “outperform” rating and a $70.00 price objective on the stock. Piper Sandler upped their target price on CG Oncology from $55.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Finally, Morgan Stanley set a $93.00 price target on shares of CG Oncology in a research report on Friday, January 9th. 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $67.83.

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.