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

SummitTX Capital L.P. decreased its stake in CG Oncology, Inc. (NASDAQ:CGON) by 18.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,570 shares of the company’s stock after selling 9,358 shares during the period. SummitTX Capital L.P.’s holdings in CG Oncology were worth $2,746,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CGON. Whittier Trust Co. of Nevada Inc. acquired a new stake in CG Oncology during the 4th quarter valued at approximately $27,000. NFSG Corp acquired a new stake in shares of CG Oncology during the first quarter worth $34,000. Comerica Bank increased its position in shares of CG Oncology by 100.4% during the fourth quarter. Comerica Bank now owns 1,028 shares of the company’s stock worth $43,000 after buying an additional 515 shares during the period. Fifth Third Bancorp bought a new position in CG Oncology during the first quarter worth $74,000. Finally, KBC Group NV acquired a new position in CG Oncology in the first quarter valued at $78,000. 26.56% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at CG Oncology

In related news, Director Brian Guan-Chyun Liu purchased 371,085 shares of the firm’s stock in a transaction that occurred 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 acquisition, the director owned 1,886,236 shares of the company’s stock, valued at $126,132,601.32. This represents a 24.49% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $1,816,241.40. Following the transaction, the director owned 24,165 shares in the company, valued at approximately $1,816,241.40. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 37,129 shares of company stock worth $2,663,817. Insiders own 4.80% of the company’s stock.

CG Oncology Trading Down 1.2%

NASDAQ CGON opened at $72.62 on Wednesday. The company has a market cap of $6.41 billion, a P/E ratio of -31.17 and a beta of 0.22. The company has a fifty day simple moving average of $65.67 and a 200 day simple moving average of $62.92. CG Oncology, Inc. has a 12-month low of $23.65 and a 12-month high of $77.00.

CG Oncology (NASDAQ:CGON) last released its quarterly earnings data on Friday, May 8th. The company reported ($0.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.13). The business had revenue of $1.08 million for the quarter, compared to analysts’ expectations of $0.45 million. Sell-side analysts predict that CG Oncology, Inc. will post -2.89 EPS for the current year.

Analyst Upgrades and Downgrades

CGON has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted 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. Wedbush lifted their target price on CG Oncology from $77.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. HC Wainwright restated a “buy” rating and set a $100.00 price target on shares of CG Oncology in a report on Monday, May 18th. Royal Bank Of Canada lifted their price objective on shares of CG Oncology from $79.00 to $81.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Finally, Wolfe Research began coverage on shares of CG Oncology in a report on Tuesday, May 19th. They issued a “peer perform” rating for the company. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, CG Oncology currently has an average rating of “Moderate Buy” and an average target price of $81.73.

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.