Insider Selling: CG Oncology (NASDAQ:CGON) Director Sells $325,000.00 in Stock

CG Oncology, Inc. (NASDAQ:CGON) Director Leonard Post sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $65.00, for a total value of $325,000.00. Following the transaction, the director directly owned 5,000 shares of the company’s stock, valued at $325,000. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

CG Oncology Stock Performance

Shares of CGON stock opened at $72.84 on Friday. The firm has a market cap of $6.42 billion, a P/E ratio of -31.26 and a beta of 0.31. CG Oncology, Inc. has a fifty-two week low of $23.65 and a fifty-two week high of $75.50. The business’s 50 day moving average price is $64.32 and its 200-day moving average price is $57.91.

CG Oncology (NASDAQ:CGON) last posted its earnings results on Friday, May 8th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.13). The firm had revenue of $1.08 million during the quarter, compared to analysts’ expectations of $0.45 million. As a group, equities analysts predict that CG Oncology, Inc. will post -2.89 EPS for the current year.

Analyst Ratings Changes

Several brokerages have commented on CGON. Truist Financial restated a “buy” rating and issued a $82.00 price objective (up from $77.00) on shares of CG Oncology in a report on Thursday, May 14th. Wedbush lifted their target price on shares of CG Oncology from $77.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Royal Bank Of Canada boosted their price target on shares of CG Oncology from $79.00 to $81.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of CG Oncology in a research note on Monday, April 20th. Finally, Wall Street Zen lowered shares of CG Oncology from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $81.73.

Hedge Funds Weigh In On CG Oncology

Several institutional investors and hedge funds have recently modified their holdings of CGON. Wellington Management Group LLP raised its position in shares of CG Oncology by 190.3% in the 3rd quarter. Wellington Management Group LLP now owns 5,512,779 shares of the company’s stock worth $222,055,000 after purchasing an additional 3,613,885 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in CG Oncology by 116.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,443,144 shares of the company’s stock valued at $142,961,000 after purchasing an additional 1,854,386 shares during the last quarter. Seven Fleet Capital Management LP purchased a new stake in CG Oncology during the 4th quarter valued at about $62,909,000. Bank of America Corp DE increased 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 in the last quarter. Finally, State Street Corp raised its holdings in CG Oncology by 46.4% in the fourth quarter. State Street Corp now owns 2,996,695 shares of the company’s stock worth $124,423,000 after buying an additional 950,028 shares during the last quarter. 26.56% of the stock is currently owned by institutional investors.

CG Oncology Company Profile

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.