Stock Traders Buy High Volume of Call Options on CG Oncology (NASDAQ:CGON)

CG Oncology, Inc. (NASDAQ:CGON) was the recipient of some unusual options trading on Wednesday. Stock traders purchased 30,105 call options on the company. This represents an increase of approximately 3,313% compared to the average volume of 882 call options.

Insider Buying and Selling

In other CG Oncology news, Director James Mulay sold 11,145 shares of the business’s stock in a transaction dated 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.

Institutional Investors Weigh In On CG Oncology

A number of institutional investors and hedge funds have recently made changes to their positions in CGON. AQR Capital Management LLC acquired a new position in CG Oncology during the 1st quarter valued at about $475,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of CG Oncology by 18.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,522 shares of the company’s stock valued at $876,000 after purchasing an additional 5,442 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of CG Oncology by 139.4% in the first quarter. Millennium Management LLC now owns 596,056 shares of the company’s stock valued at $14,597,000 after purchasing an additional 347,055 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of CG Oncology by 42.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 179,363 shares of the company’s stock valued at $4,393,000 after buying an additional 53,461 shares during the last quarter. Finally, Winthrop Capital Management LLC bought a new stake in CG Oncology during the second quarter worth $38,000. Institutional investors and hedge funds own 26.56% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Royal Bank Of Canada upped their price objective on shares of CG Oncology from $61.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. Morgan Stanley set a $93.00 target price on shares of CG Oncology in a research note on Friday, January 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of CG Oncology in a research note on Wednesday, January 21st. The Goldman Sachs Group reissued a “buy” rating and set a $82.00 price objective on shares of CG Oncology in a report on Monday, January 12th. Finally, Wedbush began coverage on CG Oncology in a report on Thursday, December 11th. They issued an “outperform” rating and a $70.00 target price for the company. Eleven 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, CG Oncology presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.00.

CG Oncology Price Performance

Shares of CG Oncology stock traded up $0.40 during midday trading on Wednesday, reaching $60.95. The company had a trading volume of 430,841 shares, compared to its average volume of 1,143,739. The stock has a fifty day moving average price of $51.19 and a 200 day moving average price of $42.78. CG Oncology has a fifty-two week low of $14.80 and a fifty-two week high of $63.58. The firm has a market cap of $5.15 billion, a PE ratio of -29.44 and a beta of 1.18.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings data on Friday, February 27th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.10. The business had revenue of $2.32 million during the quarter. As a group, sell-side analysts forecast that CG Oncology will post -1.31 EPS for the current year.

About CG Oncology

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.