E Fund Management Co. Ltd. Buys Shares of 7,400 CG Oncology, Inc. $CGON

E Fund Management Co. Ltd. purchased a new position in shares of CG Oncology, Inc. (NASDAQ:CGON) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,400 shares of the company’s stock, valued at approximately $526,000.

Other hedge funds have also recently modified their holdings of the company. NFSG Corp acquired a new position in CG Oncology in the 1st quarter valued at $34,000. Comerica Bank lifted its stake in shares of CG Oncology by 100.4% in the 4th quarter. Comerica Bank now owns 1,028 shares of the company’s stock worth $43,000 after acquiring an additional 515 shares during the period. LPL Financial LLC boosted its holdings in shares of CG Oncology by 9.8% in the fourth quarter. LPL Financial LLC now owns 6,201 shares of the company’s stock valued at $257,000 after acquiring an additional 551 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of CG Oncology by 33.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,920 shares of the company’s stock valued at $163,000 after acquiring an additional 972 shares in the last quarter. Finally, Fifth Third Bancorp acquired a new position in shares of CG Oncology during the first quarter worth about $74,000. 26.56% of the stock is owned by institutional investors and hedge funds.

CG Oncology Stock Performance

CGON opened at $77.61 on Friday. The company has a market cap of $6.88 billion, a price-to-earnings ratio of -28.85 and a beta of 0.23. CG Oncology, Inc. has a one year low of $24.85 and a one year high of $80.97. The business’s fifty day moving average is $70.91 and its two-hundred day moving average is $65.44.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.24). CG Oncology had a negative net margin of 3,602.68% and a negative return on equity of 25.20%. The firm had revenue of $1.16 million during the quarter, compared to analysts’ expectations of $0.36 million. On average, analysts predict that CG Oncology, Inc. will post -3.27 EPS for the current fiscal year.

Insiders Place Their Bets

In other CG Oncology news, Director James Mulay sold 24,165 shares of CG Oncology stock in a transaction dated 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 completion of the transaction, the director owned 24,165 shares in the company, valued at approximately $1,816,241.40. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Leonard E. 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 directly owned 5,000 shares in the company, valued at $350,000. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 38,129 shares of company stock worth $2,738,357. Insiders own 4.80% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Royal Bank Of Canada dropped their target price on CG Oncology from $81.00 to $79.00 and set an “outperform” rating on the stock in a research report on Friday, August 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of CG Oncology in a report on Friday, July 17th. Piper Sandler upped their price objective on CG Oncology from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. 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. Finally, Wolfe Research began 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 issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $83.18.

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.