Shrinkwrap issues: not updating after location transform

I selected the empty eyesocket loop and assigned it to a vertex group. Using that group, I applied Shrinkwrap to the mesh, with the eyeball as target. This worked fine, until I multi-edited all the meshes to a location up the zed axis.

The apex of the cone is about where the eyeball’s original location was.

At first I (hoped) thought that Applying the transforms would update the mesh data and allow Shrinkwrap to function correctly. This was not the case.

Is there a way to force Shrinkwrap to update its target data?

One weird aspect of this is: there doesn’t seem to be an actual vertex at the point of the cone.