Insider Buying: CG Oncology (NASDAQ:CGON) Director Acquires $24,814,453.95 in Stock

CG Oncology, Inc. (NASDAQ:CGON) Director Brian Guan-Chyun Liu purchased 371,085 shares of the business’s stock in a transaction on Thursday, June 25th. The shares were acquired at an average price of $66.87 per share, for a total transaction of $24,814,453.95. Following the completion of the acquisition, the director directly owned 1,886,236 shares in the company, valued at approximately $126,132,601.32. This represents a 24.49% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

CG Oncology Trading Up 2.5%

CGON stock traded up $1.77 during trading on Monday, reaching $73.73. 1,092,859 shares of the stock were exchanged, compared to its average volume of 1,213,217. The firm’s 50 day moving average is $64.40 and its 200 day moving average is $58.11. CG Oncology, Inc. has a twelve month low of $23.65 and a twelve month high of $75.50. The firm has a market cap of $6.50 billion, a P/E ratio of -31.64 and a beta of 0.31.

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

Wall Street Analysts Forecast Growth

CGON has been the subject of several analyst reports. Truist Financial reissued a “buy” rating and issued a $82.00 price objective (up from $77.00) on shares of CG Oncology in a research note on Thursday, May 14th. Wall Street Zen downgraded CG Oncology from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of CG Oncology in a research report on Monday, April 20th. Wolfe Research initiated coverage on CG Oncology in a research note on Tuesday, May 19th. They set a “peer perform” rating on the stock. Finally, Royal Bank Of Canada lifted their price objective on shares of CG Oncology from $79.00 to $81.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $81.73.

Hedge Funds Weigh In On CG Oncology

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

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.