SummitTX Capital L.P. Sells 9,358 Shares of CG Oncology, Inc. $CGON

SummitTX Capital L.P. reduced its holdings in shares of CG Oncology, Inc. (NASDAQ:CGON) by 18.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,570 shares of the company’s stock after selling 9,358 shares during the quarter. SummitTX Capital L.P.’s holdings in CG Oncology were worth $2,746,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of CG Oncology during the 4th quarter worth $27,000. NFSG Corp purchased a new position in CG Oncology in the first quarter valued at about $34,000. Comerica Bank increased its stake 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 purchasing an additional 515 shares during the last quarter. Fifth Third Bancorp bought a new stake in shares of CG Oncology in the 1st quarter worth approximately $74,000. Finally, KBC Group NV bought a new position in CG Oncology during the first quarter valued at $78,000. Institutional investors own 26.56% of the company’s stock.

Insider Transactions at CG Oncology

In related news, Director Brian Guan-Chyun Liu bought 371,085 shares of the stock in a transaction that occurred on Thursday, June 25th. The shares were acquired at an average cost of $66.87 per share, with a total value of $24,814,453.95. Following the completion of the purchase, the director directly owned 1,886,236 shares of the company’s stock, valued at $126,132,601.32. This trade represents a 24.49% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James Mulay sold 24,165 shares of CG Oncology stock in a transaction that occurred 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 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 SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 37,129 shares of company stock valued at $2,663,817. 4.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Wall Street Zen downgraded CG Oncology from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. Royal Bank Of Canada lifted 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. Wedbush upped their price target on shares of CG Oncology from $77.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. boosted their target price on shares of CG Oncology from $91.00 to $96.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Finally, Wolfe Research initiated coverage on CG Oncology in a report on Tuesday, May 19th. They issued a “peer perform” rating for the company. Eleven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $81.73.

CG Oncology Price Performance

Shares of NASDAQ:CGON opened at $72.62 on Wednesday. The firm has a fifty day moving average price of $65.67 and a two-hundred day moving average price of $62.92. The company has a market cap of $6.41 billion, a price-to-earnings ratio of -31.17 and a beta of 0.22. CG Oncology, Inc. has a one year low of $23.65 and a one year high of $77.00.

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

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.