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

CG Oncology, Inc. (NASDAQ:CGON) saw some unusual options trading activity on Wednesday. Investors bought 30,105 call options on the stock. This represents an increase of approximately 3,313% compared to the typical volume of 882 call options.

Insider Activity at CG Oncology

In related news, Director James Mulay sold 11,145 shares of the business’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $52.47, for a total transaction of $584,778.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Institutional Trading of CG Oncology

Several institutional investors and hedge funds have recently bought and sold shares of CGON. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of CG Oncology during the 4th quarter valued at $27,000. Strengthening Families & Communities LLC bought a new stake in CG Oncology during the third quarter valued at $40,000. Comerica Bank grew its position in CG Oncology by 100.4% during the fourth quarter. Comerica Bank now owns 1,028 shares of the company’s stock worth $43,000 after buying an additional 515 shares in the last quarter. Winthrop Capital Management LLC bought a new position in CG Oncology in the 2nd quarter worth about $38,000. Finally, Picton Mahoney Asset Management purchased a new stake in shares of CG Oncology in the 4th quarter valued at about $118,000. 26.56% of the stock is currently owned by hedge funds and other institutional investors.

CG Oncology Trading Up 0.7%

Shares of NASDAQ CGON traded up $0.40 during midday trading on Wednesday, hitting $60.95. The company’s stock had a trading volume of 430,841 shares, compared to its average volume of 1,143,739. The firm has a market capitalization of $5.15 billion, a price-to-earnings ratio of -29.44 and a beta of 1.18. The stock has a fifty day moving average price of $51.19 and a 200 day moving average price of $42.78. CG Oncology has a one year low of $14.80 and a one year high of $63.58.

CG Oncology (NASDAQ:CGON) last released its quarterly earnings data on Friday, February 27th. The company reported ($0.51) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.10. The business had revenue of $2.32 million during the quarter. On average, equities research analysts predict that CG Oncology will post -1.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on CGON. Wedbush started coverage on CG Oncology in a report on Thursday, December 11th. They issued an “outperform” rating and a $70.00 target price for the company. Piper Sandler raised their target price on CG Oncology from $55.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, January 16th. Morgan Stanley set a $93.00 target price on CG Oncology in a research note on Friday, January 9th. Royal Bank Of Canada increased their price target on shares of CG Oncology from $61.00 to $73.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. Finally, HC Wainwright raised their price objective on shares of CG Oncology from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, CG Oncology presently has an average rating of “Moderate Buy” and a consensus price target of $69.00.

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.