Elmind Capital LP Lowers Stock Holdings in CG Oncology, Inc. $CGON

Elmind Capital LP cut its stake in shares of CG Oncology, Inc. (NASDAQ:CGON) by 40.8% in the 1st quarter, HoldingsChannel reports. The fund owned 291,800 shares of the company’s stock after selling 200,700 shares during the quarter. CG Oncology makes up 5.6% of Elmind Capital LP’s investment portfolio, making the stock its 6th largest position. Elmind Capital LP’s holdings in CG Oncology were worth $19,749,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. NFSG Corp acquired a new position in shares of CG Oncology in the first quarter valued at approximately $34,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in CG Oncology during the 4th quarter worth approximately $27,000. Comerica Bank lifted its holdings in 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 CG Oncology in the 1st quarter valued at $74,000. Finally, KBC Group NV bought a new stake in CG Oncology in the 1st quarter valued at $78,000. Institutional investors own 26.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CGON. JPMorgan Chase & Co. increased their price objective on CG Oncology from $91.00 to $96.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Truist Financial restated a “buy” rating and issued a $82.00 price target (up from $77.00) on shares of CG Oncology in a research note on Thursday, May 14th. Wedbush lifted their price objective on shares of CG Oncology from $77.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Wall Street Zen lowered shares of CG Oncology from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CG Oncology in a report on Friday, July 17th. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, CG Oncology has an average rating of “Moderate Buy” and an average target price of $81.73.

Insider Activity at CG Oncology

In other CG Oncology news, Director Leonard E. Post sold 5,000 shares of the business’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $70.00, for a total transaction of $350,000.00. Following the completion of the transaction, the director owned 5,000 shares of the company’s stock, valued at approximately $350,000. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian Guan-Chyun Liu bought 371,085 shares of the company’s stock in a transaction dated Thursday, June 25th. The stock was bought at an average cost of $66.87 per share, with a total value of $24,814,453.95. Following the acquisition, the director directly owned 1,886,236 shares of the company’s stock, valued at approximately $126,132,601.32. The trade was a 24.49% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold 37,129 shares of company stock valued at $2,663,817 over the last ninety days. 4.80% of the stock is owned by corporate insiders.

CG Oncology Stock Up 6.1%

CGON stock opened at $73.52 on Tuesday. CG Oncology, Inc. has a 52 week low of $23.65 and a 52 week high of $77.00. The business has a 50-day simple moving average of $65.48 and a 200 day simple moving average of $62.71. The company has a market cap of $6.48 billion, a PE ratio of -31.55 and a beta of 0.22.

CG Oncology (NASDAQ:CGON) last issued its earnings results on Friday, May 8th. The company reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.13). The firm had revenue of $1.08 million for the quarter, compared to the consensus estimate of $0.45 million. On average, analysts anticipate that CG Oncology, Inc. will post -2.89 EPS for the current fiscal year.

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.