James Mulay Sells 11,145 Shares of CG Oncology (NASDAQ:CGON) Stock

CG Oncology, Inc. (NASDAQ:CGON) Director James Mulay sold 11,145 shares of the company’s stock in a transaction on Friday, January 9th. The stock was sold at an average price of $52.47, for a total transaction of $584,778.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

CG Oncology Stock Down 2.1%

Shares of NASDAQ:CGON traded down $1.14 on Tuesday, hitting $52.58. The company had a trading volume of 989,712 shares, compared to its average volume of 1,898,937. The firm’s 50-day simple moving average is $41.63 and its two-hundred day simple moving average is $35.61. The firm has a market capitalization of $4.24 billion, a price-to-earnings ratio of -25.77 and a beta of 1.35. CG Oncology, Inc. has a 1 year low of $14.80 and a 1 year high of $57.40.

CG Oncology (NASDAQ:CGON) last released its quarterly earnings results on Friday, November 14th. The company reported ($0.57) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.57). The company had revenue of $0.16 million during the quarter, compared to the consensus estimate of $0.07 million. Equities research analysts anticipate that CG Oncology, Inc. will post -1.31 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CGON. Wall Street Zen upgraded shares of CG Oncology from a “sell” rating to a “hold” rating in a report on Friday, October 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of CG Oncology in a research report on Wednesday, October 8th. JPMorgan Chase & Co. upped their price target on CG Oncology from $41.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, September 26th. Truist Financial lifted their price objective on CG Oncology from $62.00 to $66.00 and gave the company a “buy” rating in a research note on Friday. Finally, Morgan Stanley set a $93.00 target price on CG Oncology in a research note on Friday. Eleven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $65.58.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC grew its position in CG Oncology by 92.7% in the 4th quarter. SG Americas Securities LLC now owns 20,949 shares of the company’s stock worth $870,000 after purchasing an additional 10,077 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of CG Oncology by 321.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 227,879 shares of the company’s stock worth $9,179,000 after buying an additional 173,785 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in shares of CG Oncology in the third quarter worth $240,000. Voleon Capital Management LP purchased a new stake in CG Oncology during the third quarter valued at $410,000. Finally, Verition Fund Management LLC bought a new position in CG Oncology in the third quarter valued at about $221,000. Institutional investors own 26.56% of the company’s stock.

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.