Insider Selling: CG Oncology (NASDAQ:CGON) Director Sells 3,574 Shares of Stock

Key Points

• CG Oncology Director James Mulay sold 3,574 shares of the company on September 19th for a total of $139,350.26.
• The company's stock has seen significant trading activity, with a 52-week high of $40.47 and a low of $14.80.
• Analysts have mixed views on CG Oncology, with price targets ranging from $50.00 to $75.00 and a consensus rating of "Moderate Buy".

CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) Director James Mulay sold 3,574 shares of the company's stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $38.99, for a total value of $139,350.26. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

James Mulay also recently made the following trade(s):

• On Thursday, September 18th, James Mulay sold 19,112 shares of CG Oncology stock. The shares were sold at an average price of $39.01, for a total value of $745,559.12.
• On Friday, September 5th, James Mulay sold 27,015 shares of CG Oncology stock. The shares were sold at an average price of $31.53, for a total value of $851,782.95.

CG Oncology Stock Performance

Shares of CG Oncology stock traded up $0.14 during midday trading on Monday, reaching $37.04. 725,022 shares of the company's stock traded hands, compared to its average volume of 1,159,940. The company has a market cap of $2.82 billion, a PE ratio of -20.93 and a beta of 0.87. The stock has a 50 day moving average of $28.44 and a 200-day moving average of $26.01. CG Oncology, Inc. has a 12 month low of $14.80 and a 12 month high of $40.47.

CG Oncology (NASDAQ:CGON - Get Free Report) last announced its 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, equities analysts anticipate that CG Oncology, Inc. will post -1.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CG Oncology

Several institutional investors have recently modified their holdings of CGON. Wellington Management Group LLP boosted its position in shares of CG Oncology by 274.4% during the fourth quarter. Wellington Management Group LLP now owns 1,910,470 shares of the company's stock valued at $54,792,000 after buying an additional 1,400,251 shares during the last quarter. Bank of America Corp DE boosted its position in shares of CG Oncology by 409.9% during the second quarter. Bank of America Corp DE now owns 1,736,769 shares of the company's stock valued at $45,156,000 after buying an additional 1,396,170 shares during the last quarter. Candriam S.C.A. purchased a new stake in shares of CG Oncology during the second quarter valued at $19,854,000. Millennium Management LLC boosted its position in shares of CG Oncology by 139.4% during the first quarter. Millennium Management LLC now owns 596,056 shares of the company's stock valued at $14,597,000 after buying an additional 347,055 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of CG Oncology by 15.0% during the second quarter. Alliancebernstein L.P. now owns 2,164,214 shares of the company's stock valued at $56,270,000 after buying an additional 281,637 shares during the last quarter. 26.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CGON shares. The Goldman Sachs Group raised CG Oncology to a "strong-buy" rating and set a $40.00 price target on the stock in a research note on Thursday, July 10th. Morgan Stanley upped their price target on CG Oncology from $56.00 to $79.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 17th. Royal Bank Of Canada reduced their price target on CG Oncology from $68.00 to $53.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 16th. Piper Sandler started coverage on CG Oncology in a research note on Monday, August 18th. They issued an "overweight" rating and a $55.00 price target on the stock. Finally, Jones Trading started coverage on CG Oncology in a research note on Monday, September 8th. They issued a "buy" rating and a $50.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $56.00.

About CG Oncology

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.