CG Oncology (NASDAQ:CGON) Director Leonard Post Sells 5,000 Shares of Stock

Key Points

• Leonard Post, Director of CG Oncology, sold 5,000 shares of the company at an average price of $40.09, totaling $200,450, as disclosed in a SEC filing.
• CG Oncology's stock is currently down 2.0% at $39.46 and has a market cap of $3.01 billion, with recent analysts projecting a negative EPS for the current fiscal year.
• Analysts have mixed ratings on CG Oncology, with JPMorgan and Morgan Stanley lifting their price targets significantly, while the consensus maintains a "Moderate Buy" rating with an average target price of $56.55.

CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) Director Leonard Post sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $40.09, for a total value of $200,450.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

CG Oncology Stock Down 2.0%

CG Oncology stock traded down $0.82 during trading hours on Wednesday, hitting $39.46. The stock had a trading volume of 1,127,947 shares, compared to its average volume of 991,683. The company has a 50-day moving average of $29.79 and a two-hundred day moving average of $26.48. The company has a market cap of $3.01 billion, a PE ratio of -22.29 and a beta of 0.87. CG Oncology, Inc. has a fifty-two week low of $14.80 and a fifty-two week high of $40.65.

CG Oncology (NASDAQ:CGON - Get Free Report) last posted its quarterly earnings results on Friday, August 8th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate 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%. As a group, analysts forecast that CG Oncology, Inc. will post -1.31 EPS for the current fiscal year.

Hedge Funds Weigh In On CG Oncology

Large investors have recently modified their holdings of the stock. Winthrop Capital Management LLC acquired a new position in shares of CG Oncology during the second quarter worth approximately $38,000. CWM LLC lifted its position in shares of CG Oncology by 3,957.7% during the first quarter. CWM LLC now owns 2,110 shares of the company's stock worth $52,000 after purchasing an additional 2,058 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of CG Oncology by 1,051.0% during the first quarter. GAMMA Investing LLC now owns 2,302 shares of the company's stock worth $56,000 after purchasing an additional 2,102 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of CG Oncology by 15.6% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,945 shares of the company's stock worth $77,000 after purchasing an additional 398 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of CG Oncology by 15.2% during the second quarter. PNC Financial Services Group Inc. now owns 3,279 shares of the company's stock worth $85,000 after purchasing an additional 433 shares in the last quarter. 26.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CGON shares. JPMorgan Chase & Co. upped their target price on shares of CG Oncology from $41.00 to $47.00 and gave the company an "overweight" rating in a research note on Friday, September 26th. Piper Sandler started coverage on shares of CG Oncology in a research note on Monday, August 18th. They issued an "overweight" rating and a $55.00 target price on the stock. Morgan Stanley upped their target price on shares of CG Oncology from $56.00 to $79.00 and gave the company an "overweight" rating in a research note on Wednesday, September 17th. HC Wainwright restated a "buy" rating and issued a $75.00 price target on shares of CG Oncology in a research report on Monday, September 15th. Finally, Royal Bank Of Canada reduced their price target on shares of CG Oncology from $68.00 to $53.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, CG Oncology presently has an average rating of "Moderate Buy" and an average price target of $56.55.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.