Brian Guan-Chyun Liu Acquires 1,515,151 Shares of CG Oncology (NASDAQ:CGON) Stock

Key Points

• Brian Guan-Chyun Liu, a director at CG Oncology, purchased 1,515,151 shares at an average price of $33.00, totaling approximately $50 million, significantly increasing his ownership stake in the company.
• CG Oncology's stock experienced an increase, trading at $34.19 with a market capitalization of $2.61 billion, despite reporting a larger-than-expected loss of ($0.54) earnings per share.
• Analysts have mixed views on CG Oncology, with ratings ranging from "strong-buy" to "outperform," and an average target price of $53.91 for the stock.

CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) Director Brian Guan-Chyun Liu purchased 1,515,151 shares of the company's stock in a transaction that occurred on Thursday, September 11th. The shares were acquired at an average cost of $33.00 per share, with a total value of $49,999,983.00. Following the completion of the purchase, the director owned 1,515,151 shares of the company's stock, valued at $49,999,983. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

CG Oncology Price Performance

Shares of CG Oncology stock traded down $1.92 on Friday, hitting $36.90. 2,019,030 shares of the company's stock traded hands, compared to its average volume of 1,005,819. The firm's 50-day moving average price is $28.01 and its two-hundred day moving average price is $25.86. The stock has a market capitalization of $2.81 billion, a PE ratio of -20.85 and a beta of 0.87. CG Oncology, Inc. has a one year low of $14.80 and a one year high of $40.47.

CG Oncology (NASDAQ:CGON - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The company reported ($0.54) EPS for the quarter, missing analysts' consensus estimates of ($0.49) by ($0.05). CG Oncology had a negative net margin of 15,945.17% and a negative return on equity of 19.37%. On average, analysts forecast that CG Oncology, Inc. will post -1.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CGON. GF Fund Management CO. LTD. bought a new position in shares of CG Oncology in the 4th quarter valued at about $41,000. Winthrop Capital Management LLC bought a new position in shares of CG Oncology during the 2nd quarter worth approximately $38,000. CWM LLC boosted its stake in shares of CG Oncology by 3,957.7% during the 1st quarter. CWM LLC now owns 2,110 shares of the company's stock worth $52,000 after acquiring an additional 2,058 shares during the period. GAMMA Investing LLC boosted its stake in shares of CG Oncology by 1,051.0% during the 1st quarter. GAMMA Investing LLC now owns 2,302 shares of the company's stock worth $56,000 after acquiring an additional 2,102 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of CG Oncology by 15.6% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,945 shares of the company's stock worth $77,000 after acquiring an additional 398 shares during the period. 26.56% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CGON has been the subject of several recent analyst reports. Jones Trading initiated coverage on CG Oncology in a report on Monday, September 8th. They issued a "buy" rating and a $50.00 price target for the company. Cantor Fitzgerald reissued an "overweight" rating and set a $75.00 target price on shares of CG Oncology in a research note on Monday, September 8th. Morgan Stanley increased their target price on CG Oncology from $56.00 to $79.00 and gave the stock an "overweight" rating in a research note on Wednesday. Wall Street Zen downgraded shares of CG Oncology from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Finally, Zacks Research raised shares of CG Oncology from a "strong sell" rating to a "hold" rating in a research report on Monday, September 1st. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $56.00.

CG Oncology Company Profile

CG Oncology, Inc, an oncolytic immunotherapy company, focuses on developing and commercializing backbone bladder-sparing therapeutics for patients with bladder cancer. The company develops BOND-003 for the treatment of high-risk bacillus calmette guerin (BCG)-unresponsive non-muscle invasive bladder cancer (NMIBC) patients; CORE-001 to treat cretostimogene in combination with pembrolizumab in high-risk BCG-unresponsive NMIBC patients; and CORE-002 for the treatment of cretostimogene in combination with the checkpoint inhibitor nivolumab in muscle invasive bladder cancer patients.