CG Oncology, Inc. (NASDAQ:CGON) Director Hong Fang Song Sells 650,455 Shares

CG Oncology, Inc. (NASDAQ:CGON) Director Hong Fang Song sold 650,455 shares of CG Oncology stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $35.36, for a total value of $23,000,088.80. Following the transaction, the director now directly owns 586,982 shares in the company, valued at $20,755,683.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

CG Oncology Trading Up 0.5 %

Shares of NASDAQ CGON opened at $36.88 on Friday. CG Oncology, Inc. has a 52-week low of $25.77 and a 52-week high of $50.23. The firm’s fifty day moving average is $33.78 and its two-hundred day moving average is $36.23.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.14. The firm had revenue of $0.11 million for the quarter. On average, research analysts forecast that CG Oncology, Inc. will post -1.64 earnings per share for the current year.

Hedge Funds Weigh In On CG Oncology

Several institutional investors have recently added to or reduced their stakes in the company. Decheng Capital LLC purchased a new position in shares of CG Oncology in the 1st quarter worth $239,642,000. Vanguard Group Inc. purchased a new position in CG Oncology in the first quarter worth about $97,678,000. BVF Inc. IL purchased a new position in CG Oncology in the first quarter worth about $82,716,000. Yu Fan bought a new stake in CG Oncology during the second quarter worth approximately $49,828,000. Finally, Janus Henderson Group PLC purchased a new stake in CG Oncology during the first quarter valued at approximately $66,757,000. Hedge funds and other institutional investors own 26.56% of the company’s stock.

Analyst Upgrades and Downgrades

CGON has been the subject of a number of recent analyst reports. Roth Mkm assumed coverage on shares of CG Oncology in a research report on Tuesday. They issued a “buy” rating and a $65.00 price target for the company. The Goldman Sachs Group raised shares of CG Oncology from a “neutral” rating to a “buy” rating and upped their target price for the stock from $43.00 to $50.00 in a report on Monday, May 13th. HC Wainwright reissued a “buy” rating and set a $75.00 price target on shares of CG Oncology in a report on Tuesday, May 28th. Bank of America began coverage on CG Oncology in a research note on Friday, June 28th. They issued a “buy” rating and a $65.00 price objective for the company. Finally, Roth Capital upgraded CG Oncology to a “strong-buy” rating in a research report on Tuesday. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $64.17.

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.