CG Oncology (NASDAQ:CGON) Director Leonard Post Sells 1,000 Shares

Key Points

• Director Leonard Post sold 1,000 CG Oncology shares at an average price of $72.98, generating $72,980 and reducing his direct stake by 50% to 1,000 shares.
• CG Oncology shares recently traded at $75.62, with a $6.70 billion market capitalization and a 52-week range of $35.64 to $80.97.
• Analysts maintain a Moderate Buy consensus, with an average price target of $87.78, despite the company missing quarterly EPS estimates and continuing to post losses.

CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) Director Leonard Post sold 1,000 shares of CG Oncology stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $72.98, for a total transaction of $72,980.00. Following the sale, the director directly owned 1,000 shares of the company's stock, valued at $72,980. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

CG Oncology Price Performance

CG Oncology stock traded up $1.50 during trading hours on Thursday, hitting $75.62. The company had a trading volume of 894,241 shares, compared to its average volume of 1,091,035. The firm has a market cap of $6.70 billion, a PE ratio of -28.11 and a beta of 0.24. CG Oncology, Inc. has a one year low of $35.64 and a one year high of $80.97. The firm has a 50-day moving average of $74.03 and a 200 day moving average of $68.29.

CG Oncology (NASDAQ:CGON - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.24). CG Oncology had a negative return on equity of 25.20% and a negative net margin of 3,602.68%.The firm had revenue of $1.16 million for the quarter, compared to the consensus estimate of $0.36 million. As a group, research analysts expect that CG Oncology, Inc. will post -3.31 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on CGON. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of CG Oncology in a report on Friday, July 17th. Wall Street Zen cut shares of CG Oncology from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 8th. HC Wainwright restated a "buy" rating and issued a $100.00 price target on shares of CG Oncology in a research note on Wednesday, July 29th. Royal Bank Of Canada decreased their price target on shares of CG Oncology from $81.00 to $79.00 and set an "outperform" rating on the stock in a research note on Friday, August 7th. Finally, Truist Financial raised their price target on shares of CG Oncology from $82.00 to $85.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, CG Oncology currently has a consensus rating of "Moderate Buy" and an average price target of $87.78.

Hedge Funds Weigh In On CG Oncology

A number of hedge funds have recently added to or reduced their stakes in CGON. Fiduciary Financial Advisors acquired a new stake in shares of CG Oncology during the 2nd quarter worth $28,000. NFSG Corp acquired a new position in CG Oncology in the first quarter valued at about $34,000. Fifth Third Bancorp bought a new stake in CG Oncology during the first quarter worth about $74,000. KBC Group NV bought a new stake in CG Oncology during the first quarter worth about $78,000. Finally, ABS Direct Equity Fund LLC acquired a new stake in CG Oncology during the first quarter worth about $176,000. Institutional investors own 26.56% of the company's stock.

About CG Oncology

CG Oncology, Inc NASDAQ: CGON is a clinical-stage biotechnology company focused on developing therapies for bladder cancer. The company's research is centered on treatments designed to stimulate the immune system and target tumors directly, with an emphasis on non-muscle-invasive bladder cancer (NMIBC).

Its lead investigational product, cretostimogene grenadenorep, also known as CG0070, is an intravesical oncolytic adenovirus intended for administration directly into the bladder. The therapy is designed to selectively replicate in cancer cells, promote tumor-cell destruction and stimulate an immune response through the production of granulocyte-macrophage colony-stimulating factor (GM-CSF).

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