Yu Fan Takes $49.83 Million Position in CG Oncology, Inc. (NASDAQ:CGON)

Yu Fan purchased a new stake in shares of CG Oncology, Inc. (NASDAQ:CGON) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,578,344 shares of the company’s stock, valued at approximately $49,828,000. CG Oncology accounts for approximately 65.1% of Yu Fan’s holdings, making the stock its biggest holding. Yu Fan owned about 2.37% of CG Oncology at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. purchased a new position in CG Oncology during the first quarter worth about $102,000. California State Teachers Retirement System purchased a new stake in CG Oncology in the first quarter valued at approximately $103,000. Profund Advisors LLC acquired a new position in CG Oncology during the second quarter worth $300,000. BNP Paribas Financial Markets purchased a new position in shares of CG Oncology during the first quarter worth $492,000. Finally, Capstone Investment Advisors LLC acquired a new stake in shares of CG Oncology in the first quarter valued at $806,000. 26.56% of the stock is currently owned by institutional investors and hedge funds.

CG Oncology Stock Performance

CGON stock opened at $39.00 on Monday. The company’s 50 day moving average price is $35.29 and its 200 day moving average price is $35.27. CG Oncology, Inc. has a fifty-two week low of $25.77 and a fifty-two week high of $50.23.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.14. The firm had revenue of $0.11 million during the quarter. Equities analysts anticipate that CG Oncology, Inc. will post -1.47 earnings per share for the current fiscal year.

Insider Buying and Selling at CG Oncology

In other news, Director Hong Fang Song sold 650,455 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $35.36, for a total transaction of $23,000,088.80. Following the completion of the transaction, the director now directly owns 586,982 shares of the company’s stock, valued at approximately $20,755,683.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CGON. Roth Capital raised CG Oncology to a “strong-buy” rating in a research note on Tuesday, August 27th. HC Wainwright restated a “buy” rating and issued a $75.00 price objective on shares of CG Oncology in a report on Tuesday, September 17th. Roth Mkm began coverage on shares of CG Oncology in a research note on Tuesday, August 27th. They set a “buy” rating and a $65.00 target price on the stock. Finally, Bank of America initiated coverage on shares of CG Oncology in a research report on Friday, June 28th. They issued a “buy” rating and a $65.00 price target for the company. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CG Oncology has an average rating of “Buy” and a consensus target price of $64.17.

CG Oncology Profile

CG Oncology, Inc, an oncolytic immunotherapy company, focuses on developing and commercializing backbone bladder-sparing therapeutics for patients with bladder cancer. The company develops BOND-003 for the treatment of high-risk bacillus calmette guerin (BCG)-unresponsive non-muscle invasive bladder cancer (NMIBC) patients; CORE-001 to treat cretostimogene in combination with pembrolizumab in high-risk BCG-unresponsive NMIBC patients; and CORE-002 for the treatment of cretostimogene in combination with the checkpoint inhibitor nivolumab in muscle invasive bladder cancer patients.