CG Oncology (NASDAQ:CGON) Director Leonard Post Sells 1,000 Shares of Stock

CG Oncology, Inc. (NASDAQ:CGON) Director Leonard Post sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $72.98, for a total transaction of $72,980.00. Following the sale, the director owned 1,000 shares in the company, valued at $72,980. This represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

CG Oncology Price Performance

NASDAQ:CGON traded up $1.50 during mid-day trading on Thursday, reaching $75.62. The stock had a trading volume of 894,241 shares, compared to its average volume of 1,091,035. CG Oncology, Inc. has a 12 month low of $35.64 and a 12 month high of $80.97. The stock has a market capitalization of $6.70 billion, a PE ratio of -28.11 and a beta of 0.24. The stock has a 50-day simple moving average of $74.03 and a two-hundred day simple moving average of $68.29.

CG Oncology (NASDAQ:CGON) last released its earnings results on Thursday, August 6th. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.24). The business had revenue of $1.16 million for the quarter, compared to the consensus estimate of $0.36 million. CG Oncology had a negative return on equity of 25.20% and a negative net margin of 3,602.68%. Equities analysts expect that CG Oncology, Inc. will post -3.31 EPS for the current year.

Analyst Ratings Changes

CGON has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CG Oncology in a research note on Friday, July 17th. Piper Sandler boosted their target price on CG Oncology from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Royal Bank Of Canada dropped their target price on shares of CG Oncology from $81.00 to $79.00 and set an “outperform” rating for the company in a report on Friday, August 7th. HC Wainwright restated a “buy” rating and issued a $100.00 price target on shares of CG Oncology in a research note on Wednesday, July 29th. Finally, Truist Financial lifted their price target on shares of CG Oncology from $82.00 to $85.00 and gave the company a “buy” rating in a report on Friday, August 7th. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, CG Oncology currently has a consensus rating of “Moderate Buy” and an average target price of $87.78.

Institutional Investors Weigh In On CG Oncology

Several hedge funds have recently modified their holdings of CGON. Bank of New York Mellon Corp bought a new position in CG Oncology in the 2nd quarter valued at approximately $16,584,000. Hsbc Holdings PLC acquired a new position in CG Oncology in the 2nd quarter valued at approximately $12,488,000. Bank of America Corp DE increased its position in CG Oncology by 21.8% in the 1st quarter. Bank of America Corp DE now owns 1,449,364 shares of the company’s stock valued at $98,093,000 after acquiring an additional 259,311 shares during the period. Jefferies Financial Group Inc. bought a new position in shares of CG Oncology during the second quarter valued at $54,705,000. Finally, EcoR1 Capital LLC lifted its holdings in shares of CG Oncology by 3.5% during the first quarter. EcoR1 Capital LLC now owns 1,102,000 shares of the company’s stock worth $74,583,000 after purchasing an additional 37,200 shares during the period. Institutional investors and hedge funds own 26.56% of the company’s stock.

CG Oncology Company Profile

CG Oncology, Inc (NASDAQ: CGON) is a clinical-stage biotechnology company focused on developing therapies for bladder cancer. The company’s research is centered on treatments designed to stimulate the immune system and target tumors directly, with an emphasis on non-muscle-invasive bladder cancer (NMIBC).

Its lead investigational product, cretostimogene grenadenorep, also known as CG0070, is an intravesical oncolytic adenovirus intended for administration directly into the bladder. The therapy is designed to selectively replicate in cancer cells, promote tumor-cell destruction and stimulate an immune response through the production of granulocyte-macrophage colony-stimulating factor (GM-CSF).