CG Oncology (NASDAQ:CGON) Director Leonard Post Sells 1,000 Shares of Stock

CG Oncology, Inc. (NASDAQ:CGON) Director Leonard Post sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $72.98, for a total transaction of $72,980.00. Following the sale, the director owned 1,000 shares in the company, valued at $72,980. This represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

CG Oncology Price Performance

Shares of CGON opened at $75.62 on Friday. CG Oncology, Inc. has a one year low of $35.64 and a one year high of $80.97. The company has a market cap of $6.70 billion, a P/E ratio of -28.11 and a beta of 0.24. The firm has a 50 day simple moving average of $74.08 and a two-hundred day simple moving average of $68.41.

CG Oncology (NASDAQ:CGON) last released its earnings results on Thursday, August 6th. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.24). CG Oncology had a negative return on equity of 25.20% and a negative net margin of 3,602.68%.The business had revenue of $1.16 million for the quarter, compared to the consensus estimate of $0.36 million. On average, analysts expect that CG Oncology, Inc. will post -3.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CGON has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CG Oncology in a research note on Friday, July 17th. Truist Financial boosted their target price on CG Oncology from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Piper Sandler increased their target price on shares of CG Oncology from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Royal Bank Of Canada reduced their price target on shares of CG Oncology from $81.00 to $79.00 and set an “outperform” rating on the stock in a research note on Friday, August 7th. Finally, Wall Street Zen lowered shares of CG Oncology from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, CG Oncology presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.78.

Institutional Investors Weigh In On CG Oncology

Hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new stake in CG Oncology during the 2nd quarter worth $444,509,000. Seven Fleet Capital Management LP raised its position in CG Oncology by 24.5% in the second quarter. Seven Fleet Capital Management LP now owns 1,886,236 shares of the company’s stock valued at $134,017,000 after purchasing an additional 371,085 shares during the last quarter. Bank of America Corp DE boosted 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. EcoR1 Capital LLC boosted its stake in shares of CG Oncology by 3.5% during the first 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 in the last quarter. Finally, Jefferies Financial Group Inc. bought a new stake in shares of CG Oncology during the second quarter worth about $54,705,000. 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 biotechnology company focused on developing therapies for bladder cancer. The company’s research is centered on treatments designed to stimulate the immune system and target tumors directly, with an emphasis on non-muscle-invasive bladder cancer (NMIBC).

Its lead investigational product, cretostimogene grenadenorep, also known as CG0070, is an intravesical oncolytic adenovirus intended for administration directly into the bladder. The therapy is designed to selectively replicate in cancer cells, promote tumor-cell destruction and stimulate an immune response through the production of granulocyte-macrophage colony-stimulating factor (GM-CSF).