CG Oncology (NASDAQ:CGON) Hits New 1-Year High - Here's Why

Key Points

• CG Oncology's stock reached a new 52-week high of $40.53 and closed at $40.28 after trading 752,160 shares.
• Analysts have varying perspectives on CG Oncology, with target prices ranging from $53.00 to $75.00 and an average rating of "Moderate Buy."
• The company reported a quarterly loss of ($0.54) EPS, missing analysts' estimates, with predictions for a full-year EPS of -1.31.

CG Oncology, Inc. (NASDAQ:CGON - Get Free Report)'s share price hit a new 52-week high on Tuesday . The stock traded as high as $40.53 and last traded at $40.28, with a volume of 752160 shares. The stock had previously closed at $39.08.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Royal Bank Of Canada dropped their target price on shares of CG Oncology from $68.00 to $53.00 and set an "outperform" rating for the company in a report on Wednesday, July 16th. HC Wainwright reaffirmed a "buy" rating and issued a $75.00 target price on shares of CG Oncology in a report on Monday, September 15th. Wall Street Zen downgraded shares of CG Oncology from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Piper Sandler started coverage on shares of CG Oncology in a report on Monday, August 18th. They issued an "overweight" rating and a $55.00 target price for the company. Finally, Zacks Research raised shares of CG Oncology from a "strong sell" rating to a "hold" rating in a report on Monday, September 1st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, CG Oncology presently has an average rating of "Moderate Buy" and a consensus target price of $56.55.

CG Oncology Stock Performance

The stock's fifty day moving average is $29.50 and its 200 day moving average is $26.38. The stock has a market cap of $3.07 billion, a P/E ratio of -22.76 and a beta of 0.87.

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%. Equities research analysts predict that CG Oncology, Inc. will post -1.31 EPS for the current year.

Insider Transactions at CG Oncology

In related news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $35.10, for a total value of $35,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Hong Fang Song sold 100,000 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $27.80, for a total transaction of $2,780,000.00. Following the completion of the transaction, the director directly owned 2,903,931 shares of the company's stock, valued at approximately $80,729,281.80. The trade was a 3.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 165,456 shares of company stock worth $5,107,661 in the last quarter.

Institutional Trading of CG Oncology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. increased its position in shares of CG Oncology by 70.2% during the fourth quarter. Ameriprise Financial Inc. now owns 21,946 shares of the company's stock worth $629,000 after acquiring an additional 9,051 shares during the period. Squarepoint Ops LLC purchased a new position in shares of CG Oncology during the fourth quarter worth approximately $313,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of CG Oncology by 496.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 125,902 shares of the company's stock worth $3,611,000 after acquiring an additional 104,780 shares during the period. California State Teachers Retirement System increased its position in shares of CG Oncology by 115.3% during the fourth quarter. California State Teachers Retirement System now owns 38,768 shares of the company's stock worth $1,112,000 after acquiring an additional 20,763 shares during the period. Finally, GAMMA Investing LLC increased 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 acquiring an additional 2,102 shares during the period. 26.56% of the stock is owned by hedge funds and other institutional investors.

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.

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