CG Oncology (NASDAQ:CGON) Trading 6% Higher on Insider Buying Activity

Key Points

• CG Oncology's stock rose 6% after insider Director Brian Guan-Chyun Liu purchased 1.5 million shares at $33.00 each, totaling nearly $50 million.
• Several analysts have set price targets for CG Oncology, with a consensus average target of $53.91 and multiple buy ratings issued by firms like Piper Sandler and Goldman Sachs.
• The company recently reported an earnings miss of ($0.54) EPS, falling short of expectations and indicating a negative net margin of over 15,900%.

CG Oncology, Inc. (NASDAQ:CGON - Get Free Report)'s stock price rose 6% on Tuesday after an insider bought additional shares in the company. The company traded as high as $36.42 and last traded at $36.67. Approximately 451,566 shares traded hands during trading, a decline of 54% from the average daily volume of 985,435 shares. The stock had previously closed at $34.60.

Specifically, Director Brian Guan-Chyun Liu purchased 1,515,151 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The shares were acquired at an average price of $33.00 per share, for a total transaction of $49,999,983.00. Following the completion of the acquisition, the director directly owned 1,515,151 shares in the company, valued at approximately $49,999,983. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CGON shares. HC Wainwright reissued a "buy" rating and issued a $75.00 target price on shares of CG Oncology in a research note on Monday, September 15th. Jones Trading began coverage on CG Oncology in a research report on Monday, September 8th. They issued a "buy" rating and a $50.00 target price on the stock. Zacks Research raised CG Oncology from a "strong sell" rating to a "hold" rating in a research report on Monday, September 1st. The Goldman Sachs Group raised CG Oncology to a "strong-buy" rating and set a $40.00 target price on the stock in a research report on Thursday, July 10th. Finally, Wall Street Zen lowered CG Oncology from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $56.00.

CG Oncology Trading Down 4.9%

The company has a 50 day moving average price of $28.21 and a 200 day moving average price of $25.95. The company has a market capitalization of $2.81 billion, a P/E ratio of -20.85 and a beta of 0.87.

CG Oncology (NASDAQ:CGON - Get Free Report) last issued its 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 return on equity of 19.37% and a negative net margin of 15,945.17%. As a group, sell-side analysts forecast that CG Oncology, Inc. will post -1.31 EPS for the current fiscal year.

Institutional Trading of CG Oncology

Institutional investors have recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. bought a new stake in CG Oncology in the 4th quarter valued at $41,000. Winthrop Capital Management LLC bought a new stake in CG Oncology in the 2nd quarter valued at $38,000. CWM LLC boosted its stake 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 purchasing an additional 2,058 shares during the period. GAMMA Investing LLC boosted its stake 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 purchasing an additional 2,102 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake 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 purchasing an additional 398 shares during the period. 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.