Seven Fleet Capital Management LP Purchases 371,085 Shares of CG Oncology, Inc. $CGON

Seven Fleet Capital Management LP lifted its position in CG Oncology, Inc. (NASDAQ:CGON) by 24.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,886,236 shares of the company’s stock after purchasing an additional 371,085 shares during the quarter. CG Oncology comprises 22.1% of Seven Fleet Capital Management LP’s holdings, making the stock its largest position. Seven Fleet Capital Management LP owned approximately 2.13% of CG Oncology worth $134,017,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. acquired a new position in CG Oncology in the 2nd quarter worth approximately $444,509,000. Wellington Management Group LLP lifted its stake in CG Oncology by 190.3% during the 3rd quarter. Wellington Management Group LLP now owns 5,512,779 shares of the company’s stock valued at $222,055,000 after acquiring an additional 3,613,885 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in CG Oncology by 116.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,443,144 shares of the company’s stock valued at $142,961,000 after acquiring an additional 1,854,386 shares during the period. Bank of America Corp DE boosted its holdings in shares of CG Oncology by 409.9% in the 2nd quarter. Bank of America Corp DE now owns 1,736,769 shares of the company’s stock valued at $45,156,000 after acquiring an additional 1,396,170 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of CG Oncology by 46.4% in the 4th quarter. State Street Corp now owns 2,996,695 shares of the company’s stock valued at $124,423,000 after acquiring an additional 950,028 shares during the last quarter. Institutional investors and hedge funds own 26.56% of the company’s stock.

CG Oncology Trading Up 0.5%

CG Oncology stock opened at $74.67 on Friday. CG Oncology, Inc. has a 12 month low of $29.85 and a 12 month high of $80.97. The stock’s 50 day simple moving average is $73.63 and its two-hundred day simple moving average is $67.25. The firm has a market cap of $6.62 billion, a PE ratio of -27.76 and a beta of 0.24.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.90) EPS 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 firm had revenue of $1.16 million for the quarter, compared to analyst estimates of $0.36 million. On average, equities research analysts forecast that CG Oncology, Inc. will post -3.27 EPS for the current year.

Insider Activity at CG Oncology

In other news, Director Brian Liu acquired 371,085 shares of the firm’s stock in a transaction on Thursday, June 25th. The stock was acquired at an average price of $66.87 per share, for a total transaction of $24,814,453.95. Following the completion of the transaction, the director owned 1,886,236 shares in the company, valued at approximately $126,132,601.32. The trade was a 24.49% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James Mulay sold 24,165 shares of the company’s stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $75.16, for a total transaction of $1,816,241.40. Following the completion of the transaction, the director owned 24,165 shares of the company’s stock, valued at approximately $1,816,241.40. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 37,129 shares of company stock worth $2,683,857. 4.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CGON shares. Truist Financial increased their price objective on shares of CG Oncology from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. HC Wainwright restated a “buy” rating and set a $100.00 target price on shares of CG Oncology in a research report on Wednesday, July 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CG Oncology in a report on Friday, July 17th. Wolfe Research assumed coverage on CG Oncology in a research report on Tuesday, May 19th. They set a “peer perform” rating on the stock. Finally, Wedbush lifted their price objective on CG Oncology from $77.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Eleven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.18.

About CG Oncology

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.