Leonard Post Sells 5,000 Shares of CG Oncology (NASDAQ:CGON) Stock

CG Oncology, Inc. (NASDAQ:CGON) Director Leonard Post sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $40.09, for a total value of $200,450.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

CG Oncology Trading Up 1.0%

CGON stock opened at $39.85 on Friday. The firm has a 50 day simple moving average of $30.32 and a 200-day simple moving average of $26.65. The company has a market capitalization of $3.04 billion, a P/E ratio of -22.51 and a beta of 1.31. CG Oncology, Inc. has a twelve month low of $14.80 and a twelve month high of $40.65.

CG Oncology (NASDAQ:CGON) last posted its quarterly earnings data on Friday, August 8th. The company reported ($0.54) 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%. On average, research analysts predict that CG Oncology, Inc. will post -1.31 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. lifted its stake in CG Oncology by 15.0% in the second quarter. Alliancebernstein L.P. now owns 2,164,214 shares of the company’s stock valued at $56,270,000 after buying an additional 281,637 shares during the last quarter. Wellington Management Group LLP lifted its position in CG Oncology by 11.2% in the 1st quarter. Wellington Management Group LLP now owns 2,125,208 shares of the company’s stock valued at $52,046,000 after purchasing an additional 214,738 shares during the last quarter. Bank of America Corp DE boosted its stake in CG Oncology by 409.9% during the 2nd quarter. Bank of America Corp DE now owns 1,736,769 shares of the company’s stock valued at $45,156,000 after purchasing an additional 1,396,170 shares during the period. Franklin Resources Inc. grew its position in CG Oncology by 12.7% in the 2nd quarter. Franklin Resources Inc. now owns 1,486,839 shares of the company’s stock worth $38,658,000 after purchasing an additional 167,905 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of CG Oncology by 4.4% in the second quarter. Geode Capital Management LLC now owns 1,335,437 shares of the company’s stock valued at $34,727,000 after purchasing an additional 56,203 shares during the period. 26.56% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Morgan Stanley lifted their price target on CG Oncology from $56.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 17th. Zacks Research upgraded CG Oncology from a “strong sell” rating to a “hold” rating in a research report on Monday, September 1st. Piper Sandler began coverage on CG Oncology in a report on Monday, August 18th. They issued an “overweight” rating and a $55.00 price target for the company. Royal Bank Of Canada dropped their price target on CG Oncology from $68.00 to $53.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 16th. Finally, Jones Trading initiated coverage on shares of CG Oncology in a report on Monday, September 8th. They issued a “buy” rating and a $50.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.55.

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.