CG Oncology, Inc. (NASDAQ:CGON) Director Sells $19,600,000.00 in Stock

CG Oncology, Inc. (NASDAQ:CGON) Director Hong Fang Song sold 700,000 shares of CG Oncology stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $28.00, for a total value of $19,600,000.00. Following the sale, the director now directly owns 3,003,931 shares in the company, valued at $84,110,068. This trade represents a 18.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

CG Oncology Trading Down 1.5 %

CGON opened at $28.02 on Friday. The stock has a 50-day moving average of $34.87 and a 200 day moving average of $34.82. CG Oncology, Inc. has a 12 month low of $25.77 and a 12 month high of $50.23.

CG Oncology (NASDAQ:CGON) last announced its earnings results on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.06. CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. The firm had revenue of $0.04 million during the quarter, compared to analysts’ expectations of $0.30 million. On average, analysts expect that CG Oncology, Inc. will post -1.32 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Amalgamated Bank lifted its holdings in shares of CG Oncology by 107.6% in the 3rd quarter. Amalgamated Bank now owns 1,621 shares of the company’s stock worth $61,000 after acquiring an additional 840 shares during the last quarter. California State Teachers Retirement System bought a new stake in CG Oncology in the first quarter worth about $103,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in CG Oncology in the third quarter worth about $241,000. Profund Advisors LLC purchased a new position in shares of CG Oncology during the second quarter valued at approximately $300,000. Finally, HighVista Strategies LLC bought a new position in shares of CG Oncology during the third quarter valued at approximately $594,000. Institutional investors own 26.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CGON. Roth Mkm initiated coverage on shares of CG Oncology in a research report on Tuesday, August 27th. They set a “buy” rating and a $65.00 price objective on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $66.00 price target on shares of CG Oncology in a report on Friday, December 6th. UBS Group started coverage on shares of CG Oncology in a report on Thursday, October 24th. They set a “buy” rating and a $60.00 price objective for the company. Bank of America reaffirmed a “buy” rating and issued a $65.00 target price on shares of CG Oncology in a report on Tuesday, October 8th. Finally, HC Wainwright reissued a “buy” rating and set a $75.00 price target on shares of CG Oncology in a research note on Friday, December 6th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, CG Oncology currently has a consensus rating of “Buy” and an average price target of $63.88.

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.