CG Oncology (NASDAQ:CGON) Director James Mulay Sells 3,574 Shares of Stock

CG Oncology, Inc. (NASDAQ:CGON) Director James Mulay sold 3,574 shares of the stock in a transaction on Friday, September 19th. The stock was sold at an average price of $38.99, for a total transaction of $139,350.26. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

James Mulay also recently made the following trade(s):

• On Thursday, September 18th, James Mulay sold 19,112 shares of CG Oncology stock. The stock was sold at an average price of $39.01, for a total transaction of $745,559.12.
• On Friday, September 5th, James Mulay sold 27,015 shares of CG Oncology stock. The shares were sold at an average price of $31.53, for a total transaction of $851,782.95.

CG Oncology Price Performance

CGON stock opened at $37.04 on Tuesday. CG Oncology, Inc. has a 52-week low of $14.80 and a 52-week high of $40.47. The company has a 50-day moving average of $28.44 and a two-hundred day moving average of $26.01. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of -20.93 and a beta of 0.87.

CG Oncology (NASDAQ:CGON) last released its quarterly earnings results on Friday, August 8th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.05). CG Oncology had a negative net margin of 15,945.17% and a negative return on equity of 19.37%. Equities analysts expect that CG Oncology, Inc. will post -1.31 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on CGON. Zacks Research upgraded shares of CG Oncology from a “strong sell” rating to a “hold” rating in a research note on Monday, September 1st. Wall Street Zen cut shares of CG Oncology from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Piper Sandler initiated coverage on shares of CG Oncology in a research note on Monday, August 18th. They set an “overweight” rating and a $55.00 price target for the company. HC Wainwright restated a “buy” rating and set a $75.00 price target on shares of CG Oncology in a research note on Monday, September 15th. Finally, Morgan Stanley raised their price target on shares of CG Oncology from $56.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, CG Oncology has a consensus rating of “Moderate Buy” and a consensus price target of $56.00.

Hedge Funds Weigh In On CG Oncology

A number of hedge funds and other institutional investors have recently made changes to their positions in CGON. Ameriprise Financial Inc. boosted its position in shares of CG Oncology by 70.2% during the fourth quarter. Ameriprise Financial Inc. now owns 21,946 shares of the company’s stock worth $629,000 after purchasing an additional 9,051 shares in the last quarter. Bank of America Corp DE lifted its position in CG Oncology by 22.6% in the 4th quarter. Bank of America Corp DE now owns 209,518 shares of the company’s stock valued at $6,009,000 after acquiring an additional 38,626 shares in the last quarter. Deutsche Bank AG lifted its position in CG Oncology by 53.5% in the 4th quarter. Deutsche Bank AG now owns 38,978 shares of the company’s stock valued at $1,118,000 after acquiring an additional 13,589 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in CG Oncology by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,080 shares of the company’s stock valued at $862,000 after acquiring an additional 1,026 shares in the last quarter. Finally, Millennium Management LLC bought a new stake in CG Oncology in the 4th quarter valued at $7,141,000. 26.56% of the stock is owned by institutional investors.

About CG Oncology

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.