CG Oncology (NASDAQ:CGON) Director Sells $1,138,956.00 in Stock

Key Points

• Director James Mulay sold 15,600 CG Oncology shares on April 17 at an average of $73.01 for $1,138,956, reducing his position by 50% (disclosed in an SEC filing).
• Shares dropped about 4.1% to $70.40 on Monday with ~930,493 shares traded; the company has a market cap of $5.94 billion and a one-year range of $19.91–$73.56.
• Analysts are largely bullish—11 Buys, 1 Hold, 1 Sell—with a consensus “Moderate Buy” and $79 price target after several firms raised targets, and the company posted a narrower-than-expected quarterly loss of ($0.51) vs. ($0.61) estimate.

CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) Director James Mulay sold 15,600 shares of the firm's stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $73.01, for a total transaction of $1,138,956.00. Following the completion of the sale, the director owned 15,600 shares in the company, valued at $1,138,956. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, March 16th, James Mulay sold 1,964 shares of CG Oncology stock. The stock was sold at an average price of $63.50, for a total transaction of $124,714.00.

CG Oncology Stock Down 4.1%

Shares of NASDAQ:CGON traded down $3.03 during trading on Monday, hitting $70.40. 930,493 shares of the company were exchanged, compared to its average volume of 1,323,766. CG Oncology, Inc. has a 1-year low of $19.91 and a 1-year high of $73.56. The company has a market capitalization of $5.94 billion, a P/E ratio of -34.01 and a beta of 0.70. The business's 50 day moving average is $62.33 and its 200-day moving average is $50.60.

CG Oncology (NASDAQ:CGON - Get Free Report) last released its quarterly earnings data on Friday, February 27th. The company reported ($0.51) earnings per share for the quarter, beating the consensus estimate of ($0.61) by $0.10. The firm had revenue of $2.32 million for the quarter. As a group, sell-side analysts anticipate that CG Oncology, Inc. will post -2.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CGON has been the topic of several research reports. Wall Street Zen upgraded CG Oncology from a "sell" rating to a "hold" rating in a report on Saturday, April 11th. JPMorgan Chase & Co. raised their price objective on shares of CG Oncology from $65.00 to $91.00 and gave the company an "overweight" rating in a report on Friday. HC Wainwright lifted their target price on shares of CG Oncology from $80.00 to $100.00 and gave the stock a "buy" rating in a research report on Tuesday, April 7th. Truist Financial boosted their target price on shares of CG Oncology from $66.00 to $75.00 and gave the stock a "buy" rating in a report on Tuesday, February 10th. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $82.00 price target on shares of CG Oncology in a research report on Monday, January 12th. Eleven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $79.00.

Hedge Funds Weigh In On CG Oncology

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Candriam S.C.A. lifted its position in shares of CG Oncology by 35.9% in the 3rd quarter. Candriam S.C.A. now owns 1,037,892 shares of the company's stock worth $41,806,000 after purchasing an additional 274,312 shares during the period. JPMorgan Chase & Co. raised its stake in CG Oncology by 321.3% during the third quarter. JPMorgan Chase & Co. now owns 227,879 shares of the company's stock worth $9,179,000 after buying an additional 173,785 shares during the last quarter. Vanguard Group Inc. raised its stake in CG Oncology by 11.4% during the third quarter. Vanguard Group Inc. now owns 6,577,281 shares of the company's stock worth $264,933,000 after buying an additional 670,770 shares during the last quarter. Voya Investment Management LLC lifted its holdings in CG Oncology by 217.6% in the third quarter. Voya Investment Management LLC now owns 47,986 shares of the company's stock valued at $1,933,000 after buying an additional 32,877 shares during the period. Finally, Mangrove Partners IM LLC boosted its position in CG Oncology by 21.0% during the third quarter. Mangrove Partners IM LLC now owns 671,692 shares of the company's stock valued at $27,056,000 after acquiring an additional 116,575 shares during the last quarter. 26.56% of the stock is owned by institutional investors and hedge funds.

About CG Oncology

CG Oncology, Inc NASDAQ: CGON is a clinical-stage biopharmaceutical company focused on the discovery and development of novel antibody-based immunotherapies for the treatment of solid tumor cancers. The company leverages a platform-driven approach to identify and optimize antibody candidates that engage key immune checkpoints and co-stimulatory pathways within the tumor microenvironment. Its pipeline encompasses multiple preclinical programs alongside early-phase clinical trials designed to assess safety, dosing and preliminary anti-tumor activity.

Headquartered in South San Francisco, California, CG Oncology conducts clinical research primarily in the United States, collaborating with leading academic medical centers and contract research organizations to advance its lead candidates.

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