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

Key Points

• Director Leonard Post sold 1,000 CG Oncology shares at an average price of $62.06, totaling $62,060 and reducing his position by 50% to 1,000 shares.
• CG Oncology shares recently traded at $59.96, below their 50-day and 200-day moving averages. The company missed its latest quarterly EPS estimate, reporting a loss of $0.90 per share versus the expected $0.66 loss.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $87.50, despite mixed individual ratings and the company’s ongoing losses.

CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) Director Leonard Post sold 1,000 shares of the stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $62.06, for a total transaction of $62,060.00. Following the completion of the transaction, the director owned 1,000 shares of the company's stock, valued at approximately $62,060. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

CG Oncology Stock Performance

Shares of NASDAQ:CGON traded up $0.11 during midday trading on Monday, reaching $59.96. 1,215,168 shares of the company's stock were exchanged, compared to its average volume of 1,094,430. The company's 50 day simple moving average is $72.27 and its two-hundred day simple moving average is $68.97. CG Oncology, Inc. has a 12 month low of $35.80 and a 12 month high of $80.97. The firm has a market capitalization of $5.31 billion, a PE ratio of -22.29 and a beta of 0.28.

CG Oncology (NASDAQ:CGON - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $1.16 million during the quarter, compared to analyst estimates of $0.36 million. On average, research analysts anticipate that CG Oncology, Inc. will post -3.31 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on CGON. HC Wainwright restated a "buy" rating and issued a $100.00 target price on shares of CG Oncology in a research note on Wednesday, July 29th. Weiss Ratings reiterated a "sell (d-)" rating on shares of CG Oncology in a research report on Thursday. Truist Financial increased their target price 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. Royal Bank Of Canada cut their price target on shares of CG Oncology from $81.00 to $79.00 and set an "outperform" rating for the company in a report on Friday, August 7th. Finally, Wall Street Zen lowered shares of CG Oncology from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 8th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, CG Oncology currently has an average rating of "Moderate Buy" and a consensus target price of $87.50.

Hedge Funds Weigh In On CG Oncology

Institutional investors and hedge funds have recently bought and sold shares of the business. Legal & General Group Plc bought a new position in CG Oncology in the 2nd quarter worth approximately $2,846,000. Jupiter Topco LLC bought a new position in CG Oncology in the 2nd quarter valued at $1,634,000. Jefferies Financial Group Inc. acquired a new stake in shares of CG Oncology in the 2nd quarter valued at $54,705,000. Bank of New York Mellon Corp acquired a new stake in shares of CG Oncology in the 2nd quarter valued at $16,584,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of CG Oncology in the 2nd quarter valued at $1,029,000. Institutional investors and hedge funds 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 and other cancers affecting the urinary tract. The company is developing medicines designed to stimulate the immune system and target tumor cells within the bladder.

Its lead product candidate is cretostimogene grenadenorep, an investigational intravesical therapy based on an oncolytic adenovirus. The treatment is designed to be administered directly into the bladder, where it may selectively infect cancer cells, promote their destruction and activate an immune response against the tumor.

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