Insider Selling: CG Oncology (NASDAQ:CGON) Director Sells 24,165 Shares

Key Points

• CG Oncology director James Mulay sold 24,165 shares on July 10 at an average price of $75.16, totaling about $1.82 million. The sale cut his direct ownership by 50%.
• Mulay has recently sold additional CGON shares as well, including 1,964 shares in June and 15,600 shares in April, indicating a pattern of insider selling.
• The stock was trading near $71.77 and remains below the consensus analyst target of $81.73, while Wall Street overall rates CG Oncology as a Moderate Buy.

CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) Director James Mulay sold 24,165 shares of CG Oncology stock in a transaction on Friday, July 10th. The shares were sold at an average price of $75.16, for a total value of $1,816,241.40. Following the completion of the transaction, the director directly owned 24,165 shares of the company's stock, valued at $1,816,241.40. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

James Mulay also recently made the following trade(s):

• On Monday, June 15th, James Mulay sold 1,964 shares of CG Oncology stock. The stock was sold at an average price of $60.12, for a total value of $118,075.68.
• On Friday, April 17th, James Mulay sold 15,600 shares of CG Oncology stock. The stock was sold at an average price of $73.01, for a total value of $1,138,956.00.

CG Oncology Stock Performance

Shares of NASDAQ CGON traded down $0.73 during mid-day trading on Tuesday, reaching $71.77. The company had a trading volume of 1,107,216 shares, compared to its average volume of 1,197,893. The firm has a market cap of $6.33 billion, a price-to-earnings ratio of -30.80 and a beta of 0.22. The business's 50-day simple moving average is $65.03 and its 200 day simple moving average is $60.56. CG Oncology, Inc. has a one year low of $23.65 and a one year high of $77.00.

CG Oncology (NASDAQ:CGON - Get Free Report) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.71) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.13). The company had revenue of $1.08 million for the quarter, compared to analyst estimates of $0.45 million. On average, sell-side analysts anticipate that CG Oncology, Inc. will post -2.89 EPS for the current year.

Hedge Funds Weigh In On CG Oncology

Several large investors have recently bought and sold shares of CGON. Wellington Management Group LLP grew its holdings in shares of CG Oncology by 8.8% during the fourth quarter. Wellington Management Group LLP now owns 5,999,790 shares of the company's stock worth $249,111,000 after purchasing an additional 487,011 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of CG Oncology by 116.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,443,144 shares of the company's stock valued at $142,961,000 after buying an additional 1,854,386 shares during the period. State Street Corp raised its holdings in CG Oncology by 46.4% in the 4th quarter. State Street Corp now owns 2,996,695 shares of the company's stock valued at $124,423,000 after buying an additional 950,028 shares during the last quarter. Alliancebernstein L.P. raised its holdings in CG Oncology by 15.0% in the 2nd quarter. Alliancebernstein L.P. now owns 2,164,214 shares of the company's stock valued at $56,270,000 after buying an additional 281,637 shares during the last quarter. Finally, RTW Investments LP boosted its position in CG Oncology by 18.3% during the 4th quarter. RTW Investments LP now owns 2,012,127 shares of the company's stock worth $83,544,000 after buying an additional 310,911 shares during the period. 26.56% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Wolfe Research started coverage on shares of CG Oncology in a research report on Tuesday, May 19th. They set a "peer perform" rating on the stock. Truist Financial restated a "buy" rating and set a $82.00 price objective (up from $77.00) on shares of CG Oncology in a research report on Thursday, May 14th. Royal Bank Of Canada upped their target price on CG Oncology from $79.00 to $81.00 and gave the stock an "outperform" rating in a research note on Monday, May 11th. Wedbush raised their target price on CG Oncology from $77.00 to $80.00 and gave the company an "outperform" rating in a report on Monday, May 11th. Finally, HC Wainwright reiterated a "buy" rating and issued a $100.00 price target on shares of CG Oncology in a research note on Monday, May 18th. Eleven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $81.73.

CG Oncology Company Profile

CG Oncology, Inc NASDAQ: CGON is a clinical-stage biopharmaceutical company focused on the discovery and development of novel antibody-based immunotherapies for the treatment of solid tumor cancers. The company leverages a platform-driven approach to identify and optimize antibody candidates that engage key immune checkpoints and co-stimulatory pathways within the tumor microenvironment. Its pipeline encompasses multiple preclinical programs alongside early-phase clinical trials designed to assess safety, dosing and preliminary anti-tumor activity.

Headquartered in South San Francisco, California, CG Oncology conducts clinical research primarily in the United States, collaborating with leading academic medical centers and contract research organizations to advance its lead candidates.

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