Traders Buy Large Volume of Call Options on CG Oncology (NASDAQ:CGON)

CG Oncology, Inc. (NASDAQ:CGON) was the target of unusually large options trading on Monday. Traders purchased 18,243 call options on the stock. This represents an increase of 574% compared to the typical daily volume of 2,705 call options.

Wall Street Analyst Weigh In

CGON has been the topic of a number of recent analyst reports. Royal Bank Of Canada lifted their price objective on CG Oncology from $79.00 to $81.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. raised their price target on CG Oncology from $91.00 to $96.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Wall Street Zen cut shares of CG Oncology from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. HC Wainwright reissued a “buy” rating and set a $100.00 price objective on shares of CG Oncology in a research report on Monday, May 18th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of CG Oncology in a report on Monday, April 20th. Eleven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $81.73.

CG Oncology Stock Down 0.1%

Shares of CGON stock opened at $70.98 on Wednesday. The business’s fifty day moving average is $64.50 and its 200 day moving average is $58.54. The stock has a market cap of $6.26 billion, a price-to-earnings ratio of -30.67 and a beta of 0.31. CG Oncology has a twelve month low of $23.65 and a twelve month high of $77.00.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings data on Friday, May 8th. The company reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.13). The business had revenue of $1.08 million during the quarter, compared to analyst estimates of $0.45 million. Equities research analysts expect that CG Oncology will post -2.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CG Oncology news, Director Leonard E. Post sold 5,000 shares of CG Oncology stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $70.00, for a total value of $350,000.00. Following the transaction, the director directly owned 5,000 shares of the company’s stock, valued at $350,000. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Mulay sold 15,600 shares of the stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $73.01, for a total value of $1,138,956.00. Following the sale, the director directly owned 15,600 shares of the company’s stock, valued at approximately $1,138,956. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 28,564 shares of company stock worth $1,986,532 in the last ninety days. 4.80% of the stock is owned by insiders.

Institutional Investors Weigh In On CG Oncology

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE increased its stake in shares of CG Oncology by 21.8% during the first quarter. Bank of America Corp DE now owns 1,449,364 shares of the company’s stock valued at $98,093,000 after purchasing an additional 259,311 shares in the last quarter. Stempoint Capital LP bought a new stake in shares of CG Oncology in the 1st quarter worth approximately $13,916,000. California State Teachers Retirement System grew its stake in shares of CG Oncology by 23.6% in the 1st quarter. California State Teachers Retirement System now owns 51,499 shares of the company’s stock worth $3,485,000 after buying an additional 9,841 shares during the last quarter. Royal Bank of Canada grew its stake in shares of CG Oncology by 18.6% in the 1st quarter. Royal Bank of Canada now owns 11,439 shares of the company’s stock worth $774,000 after buying an additional 1,793 shares during the last quarter. Finally, EcoR1 Capital LLC increased its position in CG Oncology by 3.5% during the 1st quarter. EcoR1 Capital LLC now owns 1,102,000 shares of the company’s stock valued at $74,583,000 after buying an additional 37,200 shares in the last quarter. Hedge funds and other institutional investors own 26.56% of the company’s stock.

About CG Oncology

CG Oncology, Inc (NASDAQ: CGON) is a clinical-stage biopharmaceutical company focused on the discovery and development of novel antibody-based immunotherapies for the treatment of solid tumor cancers. The company leverages a platform-driven approach to identify and optimize antibody candidates that engage key immune checkpoints and co-stimulatory pathways within the tumor microenvironment. Its pipeline encompasses multiple preclinical programs alongside early-phase clinical trials designed to assess safety, dosing and preliminary anti-tumor activity.

Headquartered in South San Francisco, California, CG Oncology conducts clinical research primarily in the United States, collaborating with leading academic medical centers and contract research organizations to advance its lead candidates.