CG Oncology, Inc. (NASDAQ:CGON) Director Sells $23,000,088.80 in Stock

CG Oncology, Inc. (NASDAQ:CGON) Director Hong Fang Song sold 650,455 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $35.36, for a total transaction of $23,000,088.80. Following the completion of the sale, the director now directly owns 586,982 shares in the company, valued at approximately $20,755,683.52. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

CG Oncology Trading Up 0.5 %

NASDAQ CGON traded up $0.20 during trading on Friday, hitting $36.88. The stock had a trading volume of 566,069 shares, compared to its average volume of 638,395. CG Oncology, Inc. has a 12 month low of $25.77 and a 12 month high of $50.23. The company’s 50-day moving average price is $33.67 and its two-hundred day moving average price is $36.28.

CG Oncology (NASDAQ:CGON) last announced its earnings results on Thursday, August 8th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.14. The business had revenue of $0.11 million for the quarter. As a group, analysts anticipate that CG Oncology, Inc. will post -1.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CGON shares. Roth Mkm initiated coverage on CG Oncology in a research report on Tuesday. They issued a “buy” rating and a $65.00 price target on the stock. Roth Capital upgraded CG Oncology to a “strong-buy” rating in a research report on Tuesday. HC Wainwright reiterated a “buy” rating and set a $75.00 target price on shares of CG Oncology in a report on Tuesday, May 28th. Bank of America assumed coverage on CG Oncology in a report on Friday, June 28th. They issued a “buy” rating and a $65.00 price target for the company. Finally, The Goldman Sachs Group upgraded CG Oncology from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $43.00 to $50.00 in a report on Monday, May 13th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, CG Oncology has an average rating of “Buy” and a consensus target price of $64.17.

Hedge Funds Weigh In On CG Oncology

Several hedge funds have recently modified their holdings of the stock. Ameritas Investment Partners Inc. acquired a new stake in CG Oncology during the 1st quarter valued at $102,000. California State Teachers Retirement System bought a new stake in CG Oncology in the 1st quarter valued at about $103,000. Profund Advisors LLC bought a new position in shares of CG Oncology during the second quarter worth approximately $300,000. BNP Paribas Financial Markets acquired a new stake in shares of CG Oncology in the first quarter valued at approximately $492,000. Finally, Capstone Investment Advisors LLC bought a new stake in shares of CG Oncology in the first quarter valued at approximately $806,000. Institutional investors own 26.56% of the company’s stock.

CG Oncology Company 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.