CG Oncology, Inc. $CGON Stock Position Trimmed by Opaleye Management Inc.

Opaleye Management Inc. trimmed its position in shares of CG Oncology, Inc. (NASDAQ:CGON) by 81.2% in the second quarter, HoldingsChannel reports. The firm owned 17,789 shares of the company’s stock after selling 77,011 shares during the period. Opaleye Management Inc.’s holdings in CG Oncology were worth $1,264,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of CGON. Fiduciary Financial Advisors acquired a new stake in shares of CG Oncology in the second quarter valued at approximately $28,000. NFSG Corp acquired a new position in shares of CG Oncology during the first quarter worth approximately $34,000. Comerica Bank grew its holdings in CG Oncology by 100.4% in the 4th 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. Fifth Third Bancorp acquired a new stake in CG Oncology in the 1st quarter valued at approximately $74,000. Finally, KBC Group NV bought a new stake in CG Oncology during the 1st quarter valued at $78,000. Institutional investors own 26.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CGON. Truist Financial boosted their price target on CG Oncology from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Royal Bank Of Canada decreased their target price on shares of CG Oncology from $81.00 to $79.00 and set an “outperform” rating for the company in a research report on Friday, August 7th. HC Wainwright reissued a “buy” rating and set a $100.00 target price on shares of CG Oncology in a research note on Wednesday, July 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CG Oncology in a research note on Friday, July 17th. Finally, Wall Street Zen lowered shares of CG Oncology from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, CG Oncology currently has an average rating of “Moderate Buy” and an average target price of $87.78.

CG Oncology Stock Performance

CG Oncology stock opened at $72.00 on Friday. The firm has a market cap of $6.38 billion, a price-to-earnings ratio of -26.77 and a beta of 0.24. CG Oncology, Inc. has a 1 year low of $32.57 and a 1 year high of $80.97. The firm’s 50 day moving average price is $73.75 and its two-hundred day moving average price is $67.85.

CG Oncology (NASDAQ:CGON) last released its quarterly earnings data 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). The company had revenue of $1.16 million for the quarter, compared to the consensus estimate of $0.36 million. CG Oncology had a negative return on equity of 25.20% and a negative net margin of 3,602.68%. As a group, equities analysts predict that CG Oncology, Inc. will post -3.27 EPS for the current fiscal year.

Insider Transactions at CG Oncology

In related news, Director James Mulay sold 24,165 shares of CG Oncology stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $75.16, for a total value of $1,816,241.40. Following the transaction, the director owned 24,165 shares of the company’s stock, valued at approximately $1,816,241.40. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Brian Liu acquired 371,085 shares of the business’s stock in a transaction on 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 acquisition, the director 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. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 37,129 shares of company stock valued at $2,683,857 over the last three months. Company insiders own 4.80% of the company’s stock.

CG Oncology Profile

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).