WINTON GROUP Ltd Acquires New Stake in CG Oncology, Inc. $CGON

WINTON GROUP Ltd acquired a new stake in shares of CG Oncology, Inc. (NASDAQ:CGON) in the second quarter, Holdings Channel reports. The firm acquired 10,100 shares of the company’s stock, valued at approximately $718,000.

Other hedge funds have also added to or reduced their stakes in the company. Squarepoint Ops LLC bought a new position in shares of CG Oncology during the second quarter valued at $1,029,000. Arizona State Retirement System raised its position in shares of CG Oncology by 19.0% in the 2nd quarter. Arizona State Retirement System now owns 13,979 shares of the company’s stock worth $993,000 after purchasing an additional 2,232 shares during the last quarter. Nykredit A S bought a new position in CG Oncology in the 2nd quarter worth about $245,000. California State Teachers Retirement System boosted its stake in CG Oncology by 7,889.3% in the 2nd quarter. California State Teachers Retirement System now owns 4,114,434 shares of the company’s stock worth $292,331,000 after purchasing an additional 4,062,935 shares in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in CG Oncology during the 2nd quarter valued at about $4,386,000. 26.56% of the stock is owned by institutional investors.

CG Oncology Price Performance

NASDAQ CGON opened at $73.79 on Tuesday. The stock has a market capitalization of $6.54 billion, a price-to-earnings ratio of -27.43 and a beta of 0.24. CG Oncology, Inc. has a 1-year low of $33.80 and a 1-year high of $80.97. The business’s fifty day moving average price is $73.88 and its 200-day moving average price is $68.06.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.24). The firm had revenue of $1.16 million during the quarter, compared to the consensus estimate of $0.36 million. CG Oncology had a negative return on equity of 25.20% and a negative net margin of 3,602.68%. Equities research analysts anticipate that CG Oncology, Inc. will post -3.27 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CGON. Piper Sandler raised their price objective on shares of CG Oncology from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. HC Wainwright reiterated a “buy” rating and issued a $100.00 target price on shares of CG Oncology in a research note on Wednesday, July 29th. Wall Street Zen cut shares of CG Oncology from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Truist Financial raised their price target on shares of CG Oncology from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, Royal Bank Of Canada decreased their price objective on shares of CG Oncology from $81.00 to $79.00 and set an “outperform” rating for the company in a report on Friday, August 7th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, CG Oncology currently has an average rating of “Moderate Buy” and a consensus target price of $87.78.

Insiders Place Their Bets

In other news, Director Leonard Post sold 5,000 shares of the company’s stock in a transaction dated 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 owned 5,000 shares of the company’s stock, valued at $350,000. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James Mulay sold 24,165 shares of the stock in a transaction that occurred on 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 in the company, valued at $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 three months, insiders have sold 35,165 shares of company stock valued at $2,565,781. Insiders own 4.80% of the company’s stock.

CG Oncology Profile

CG Oncology, Inc (NASDAQ: CGON) is a clinical-stage biotechnology company focused on developing therapies for bladder cancer. The company’s research is centered on treatments designed to stimulate the immune system and target tumors directly, with an emphasis on non-muscle-invasive bladder cancer (NMIBC).

Its lead investigational product, cretostimogene grenadenorep, also known as CG0070, is an intravesical oncolytic adenovirus intended for administration directly into the bladder. The therapy is designed to selectively replicate in cancer cells, promote tumor-cell destruction and stimulate an immune response through the production of granulocyte-macrophage colony-stimulating factor (GM-CSF).