CG Oncology (NASDAQ:CGON) Reaches New 1-Year High - Here's What Happened

Key Points

• CG Oncology's stock reached a new 52-week high of $42.27 during trading, with a recent closing price of $40.71, indicating significant investor interest.
• Analysts have varied ratings on CG Oncology, with an average consensus rating of Moderate Buy and a price target of $58.82 from various firms.
• The company's director recently purchased a substantial number of shares, acquiring 1,515,151 shares at an average price of $33.00, suggesting strong insider confidence in the company's future.

CG Oncology, Inc. (NASDAQ:CGON - Get Free Report)'s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $42.27 and last traded at $40.71, with a volume of 1901931 shares changing hands. The stock had previously closed at $38.00.

Wall Street Analyst Weigh In

CGON has been the topic of several research reports. Cantor Fitzgerald restated an "overweight" rating and issued a $75.00 target price on shares of CG Oncology in a report on Monday, September 8th. Wall Street Zen upgraded shares of CG Oncology from a "sell" rating to a "hold" rating in a report on Friday, October 3rd. Jones Trading initiated coverage on shares of CG Oncology in a report on Monday, September 8th. They issued a "buy" rating and a $50.00 target price on the stock. Piper Sandler initiated coverage on shares of CG Oncology in a report on Monday, August 18th. They issued an "overweight" rating and a $55.00 target price on the stock. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of CG Oncology in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, CG Oncology has an average rating of "Moderate Buy" and an average price target of $58.82.

CG Oncology Stock Performance

The stock has a market capitalization of $3.31 billion, a P/E ratio of -24.53 and a beta of 1.31. The company's 50-day moving average price is $31.36 and its 200 day moving average price is $26.97.

CG Oncology (NASDAQ:CGON - Get Free Report) last announced its quarterly earnings data 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%. Analysts predict that CG Oncology, Inc. will post -1.31 earnings per share for the current year.

Insider Activity

In other news, Director Brian Guan-Chyun Liu acquired 1,515,151 shares of the firm's stock in a transaction dated Thursday, September 11th. The shares were purchased at an average cost of $33.00 per share, for a total transaction of $49,999,983.00. Following the transaction, the director directly owned 1,515,151 shares of the company's stock, valued at approximately $49,999,983. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Leonard E. Post sold 5,000 shares of CG Oncology stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $40.09, for a total transaction of $200,450.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 170,456 shares of company stock worth $5,308,111. 7.40% of the stock is currently owned by insiders.

Institutional Trading of CG Oncology

A number of institutional investors and hedge funds have recently bought and sold shares of CGON. Winthrop Capital Management LLC bought a new stake in CG Oncology in the 2nd quarter valued at $38,000. CWM LLC increased its holdings in CG Oncology by 3,957.7% in the 1st quarter. CWM LLC now owns 2,110 shares of the company's stock valued at $52,000 after acquiring an additional 2,058 shares during the last quarter. GAMMA Investing LLC increased its holdings in CG Oncology by 1,051.0% in the 1st quarter. GAMMA Investing LLC now owns 2,302 shares of the company's stock valued at $56,000 after acquiring an additional 2,102 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in CG Oncology by 15.6% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,945 shares of the company's stock valued at $77,000 after acquiring an additional 398 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in CG Oncology by 15.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,279 shares of the company's stock valued at $85,000 after acquiring an additional 433 shares during the last quarter. 26.56% of the stock is currently owned by institutional investors.

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.

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