E Fund Management Co. Ltd. Buys Shares of 7,400 CG Oncology, Inc. $CGON

E Fund Management Co. Ltd. purchased a new position in shares of CG Oncology, Inc. (NASDAQ:CGON) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 7,400 shares of the company’s stock, valued at approximately $526,000.

Other institutional investors have also modified their holdings of the company. AQR Capital Management LLC acquired a new position in CG Oncology during the first quarter worth approximately $475,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of CG Oncology by 18.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,522 shares of the company’s stock valued at $876,000 after buying an additional 5,442 shares during the period. Millennium Management LLC grew its stake in shares of CG Oncology by 139.4% during the 1st quarter. Millennium Management LLC now owns 596,056 shares of the company’s stock valued at $14,597,000 after buying an additional 347,055 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of CG Oncology by 42.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 179,363 shares of the company’s stock worth $4,393,000 after buying an additional 53,461 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of CG Oncology by 12.3% during the 2nd quarter. Legal & General Group Plc now owns 44,354 shares of the company’s stock worth $1,153,000 after buying an additional 4,847 shares during the last quarter. Institutional investors and hedge funds own 26.56% of the company’s stock.

CG Oncology Stock Performance

CGON stock opened at $77.61 on Friday. The firm has a market cap of $6.88 billion, a P/E ratio of -28.85 and a beta of 0.23. CG Oncology, Inc. has a 1 year low of $24.85 and a 1 year high of $80.97. The stock has a 50-day simple moving average of $70.91 and a 200-day simple moving average of $65.44.

CG Oncology (NASDAQ:CGON) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.24). CG Oncology had a negative return on equity of 25.20% and a negative net margin of 3,602.68%.The company had revenue of $1.16 million during the quarter, compared to analysts’ expectations of $0.36 million. On average, equities research analysts predict that CG Oncology, Inc. will post -3.27 EPS for the current year.

Insider Activity

In related news, Director Leonard E. Post sold 5,000 shares of the firm’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $70.00, for a total transaction of $350,000.00. Following the completion of the sale, the director directly owned 5,000 shares of the company’s stock, valued at approximately $350,000. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James Mulay sold 24,165 shares of the firm’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $75.16, for a total transaction of $1,816,241.40. Following the sale, the director directly owned 24,165 shares of the company’s stock, valued at approximately $1,816,241.40. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 38,129 shares of company stock worth $2,738,357. 4.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CGON shares. Piper Sandler lifted their target price on CG Oncology from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, August 7th. HC Wainwright restated a “buy” rating and set a $100.00 price target on shares of CG Oncology in a research note on Wednesday, July 29th. Weiss Ratings restated a “sell (d-)” rating on shares of CG Oncology in a report on Friday, July 17th. Wall Street Zen lowered CG Oncology from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Finally, Wolfe Research assumed coverage on CG Oncology in a report on Tuesday, May 19th. They set a “peer perform” rating for the company. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $83.18.

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.