CG Oncology (NASDAQ:CGON) Sets New 52-Week High Following Insider Buying Activity

CG Oncology, Inc. (NASDAQ:CGON)’s stock price hit a new 52-week high during mid-day trading on Tuesday following insider buying activity. The company traded as high as $77.00 and last traded at $74.0670, with a volume of 133692 shares changing hands. The stock had previously closed at $73.73.

Specifically, Director Brian Guan-Chyun Liu acquired 371,085 shares of the company’s stock in a transaction dated Thursday, June 25th. The shares were bought at an average price of $66.87 per share, for a total transaction of $24,814,453.95. Following the purchase, the director directly owned 1,886,236 shares in the company, valued at approximately $126,132,601.32. This trade represents a 24.49% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Royal Bank Of Canada raised their target price on shares of CG Oncology from $79.00 to $81.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Truist Financial reaffirmed a “buy” rating and set a $82.00 price target (up from $77.00) on shares of CG Oncology in a research report on Thursday, May 14th. Wedbush increased their price target 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. Wall Street Zen downgraded shares of CG Oncology from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. Finally, HC Wainwright restated a “buy” rating and set a $100.00 price objective on shares of CG Oncology in a research note on Monday, May 18th. Eleven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, CG Oncology has a consensus rating of “Moderate Buy” and an average price target of $81.73.

CG Oncology Stock Performance

The firm has a market capitalization of $6.59 billion, a price-to-earnings ratio of -32.06 and a beta of 0.31. The business has a fifty day moving average of $64.55 and a two-hundred day moving average of $58.34.

CG Oncology (NASDAQ:CGON) last announced its quarterly 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 business had revenue of $1.08 million during the quarter, compared to analyst estimates of $0.45 million. As a group, sell-side analysts predict that CG Oncology, Inc. will post -2.89 EPS for the current fiscal year.

Institutional Trading of CG Oncology

A number of hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP boosted its holdings in shares of CG Oncology by 8.8% during the 4th quarter. Wellington Management Group LLP now owns 5,999,790 shares of the company’s stock worth $249,111,000 after buying an additional 487,011 shares during the period. Price T Rowe Associates Inc. MD lifted its position in CG Oncology by 116.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,443,144 shares of the company’s stock worth $142,961,000 after acquiring an additional 1,854,386 shares during the last quarter. State Street Corp lifted its position in CG Oncology by 46.4% during the fourth quarter. State Street Corp now owns 2,996,695 shares of the company’s stock worth $124,423,000 after acquiring an additional 950,028 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of CG Oncology by 15.0% during the second quarter. Alliancebernstein L.P. now owns 2,164,214 shares of the company’s stock worth $56,270,000 after acquiring an additional 281,637 shares during the period. Finally, RTW Investments LP grew its position in shares of CG Oncology by 18.3% in the fourth quarter. RTW Investments LP now owns 2,012,127 shares of the company’s stock valued at $83,544,000 after purchasing an additional 310,911 shares during the last quarter. Institutional investors and hedge funds 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.