Insider Selling: CG Oncology, Inc. (NASDAQ:CGON) Director Sells 2,000 Shares of Stock

CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) Director Leonard E. Post sold 2,000 shares of the company's stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $28.00, for a total value of $56,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Leonard E. Post also recently made the following trade(s):

• On Monday, April 28th, Leonard E. Post sold 1,000 shares of CG Oncology stock. The stock was sold at an average price of $30.76, for a total transaction of $30,760.00.

CG Oncology Stock Down 6.0%

CG Oncology stock traded down $1.71 during trading hours on Friday, hitting $26.75. The stock had a trading volume of 1,872,202 shares, compared to its average volume of 867,961. The company has a 50-day moving average of $26.04 and a two-hundred day moving average of $26.06. CG Oncology, Inc. has a fifty-two week low of $14.80 and a fifty-two week high of $40.47. The company has a market cap of $2.04 billion, a PE ratio of -17.72 and a beta of 0.86.

CG Oncology (NASDAQ:CGON - Get Free Report) last issued its earnings results on Tuesday, May 13th. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.09). The firm had revenue of $0.05 million during the quarter, compared to the consensus estimate of $0.53 million. CG Oncology had a negative return on equity of 16.71% and a negative net margin of 15,945.17%. As a group, analysts forecast that CG Oncology, Inc. will post -1.31 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on CGON. Scotiabank began coverage on CG Oncology in a report on Wednesday, April 16th. They set a "sector perform" rating and a $23.00 price objective on the stock. Wall Street Zen upgraded shares of CG Oncology from a "sell" rating to a "hold" rating in a report on Friday, June 27th. The Goldman Sachs Group upgraded shares of CG Oncology to a "strong-buy" rating and set a $40.00 price target for the company in a research report on Thursday, July 10th. Morgan Stanley increased their target price on CG Oncology from $52.00 to $56.00 and gave the company an "overweight" rating in a report on Tuesday, June 17th. Finally, JPMorgan Chase & Co. initiated coverage on CG Oncology in a report on Friday, May 2nd. They set an "overweight" rating and a $41.00 price target on the stock. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $55.30.

Institutional Trading of CG Oncology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Foresite Capital Management VI LLC acquired a new position in CG Oncology in the fourth quarter valued at about $63,712,000. Marshall Wace LLP grew its holdings in shares of CG Oncology by 18,836.0% during the fourth quarter. Marshall Wace LLP now owns 1,458,072 shares of the company's stock worth $41,818,000 after purchasing an additional 1,450,372 shares during the last quarter. Wellington Management Group LLP lifted its position in CG Oncology by 274.4% during the 4th quarter. Wellington Management Group LLP now owns 1,910,470 shares of the company's stock worth $54,792,000 after buying an additional 1,400,251 shares in the last quarter. Acorn Capital Advisors LLC bought a new position in shares of CG Oncology in the fourth quarter worth about $32,451,000. Finally, Decheng Capital LLC lifted its position in shares of CG Oncology by 16.3% during the fourth quarter. Decheng Capital LLC now owns 6,371,669 shares of the company's stock worth $182,739,000 after purchasing an additional 892,859 shares in the last quarter. Institutional investors own 26.56% of the company's stock.

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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