Investors Purchase Large Volume of Call Options on CG Oncology (NASDAQ:CGON)

Key Points

• Unusual options activity: Investors purchased 16,016 CG Oncology call options, roughly 572% above the stock’s typical daily call volume.
• Shares rose 4% to $71.92, near the company’s 12-month high of $77.00. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $81.73.
• Insider activity was mixed: Director Brian Guan-Chyun Liu bought $24.8 million worth of shares, while another director sold $350,000 in stock; insiders own 4.8% of the company.

CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) saw some unusual options trading on Tuesday. Stock traders acquired 16,016 call options on the stock. This represents an increase of approximately 572% compared to the typical daily volume of 2,384 call options.

Insider Transactions at CG Oncology

In other news, Director Brian Guan-Chyun Liu purchased 371,085 shares of the stock in a transaction that occurred on Thursday, June 25th. The stock was purchased at an average price of $66.87 per share, for a total transaction of $24,814,453.95. Following the completion of the acquisition, the director owned 1,886,236 shares of the company's stock, valued at approximately $126,132,601.32. This trade represents a 24.49% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Leonard E. Post sold 5,000 shares of CG Oncology stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $70.00, for a total transaction of $350,000.00. Following the transaction, the director directly owned 5,000 shares in the company, valued at approximately $350,000. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 37,129 shares of company stock worth $2,663,817. 4.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CG Oncology

Several institutional investors have recently made changes to their positions in CGON. NFSG Corp purchased a new stake in shares of CG Oncology in the first quarter valued at $34,000. Comerica Bank lifted its holdings in shares of CG Oncology by 100.4% during the 4th quarter. Comerica Bank now owns 1,028 shares of the company's stock valued at $43,000 after acquiring an additional 515 shares in the last quarter. LPL Financial LLC boosted its holdings in CG Oncology by 9.8% in the 4th quarter. LPL Financial LLC now owns 6,201 shares of the company's stock worth $257,000 after acquiring an additional 551 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of CG Oncology in the fourth quarter worth about $27,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in CG Oncology by 33.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,920 shares of the company's stock valued at $163,000 after acquiring an additional 972 shares during the last quarter. 26.56% of the stock is currently owned by hedge funds and other institutional investors.

CG Oncology Stock Up 4.0%

NASDAQ CGON traded up $2.77 during trading on Tuesday, hitting $71.92. The stock had a trading volume of 274,712 shares, compared to its average volume of 1,163,556. CG Oncology has a twelve month low of $23.65 and a twelve month high of $77.00. The company has a market capitalization of $6.34 billion, a PE ratio of -30.87 and a beta of 0.23. The firm has a 50 day moving average price of $66.16 and a 200 day moving average price of $63.48.

CG Oncology (NASDAQ:CGON - Get Free Report) last issued its earnings results 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 analysts' expectations of $0.45 million. On average, sell-side analysts anticipate that CG Oncology will post -2.89 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CGON. HC Wainwright reaffirmed a "buy" rating and set a $100.00 price target on shares of CG Oncology in a research report on Wednesday, July 29th. Wall Street Zen cut CG Oncology from a "hold" rating to a "sell" rating in a report on Saturday, April 25th. Wedbush lifted their price objective on shares of CG Oncology from $77.00 to $80.00 and gave the company an "outperform" rating in a report on Monday, May 11th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of CG Oncology in a report on Friday, July 17th. Finally, Royal Bank Of Canada upped their target price on shares of CG Oncology from $79.00 to $81.00 and gave the stock an "outperform" rating in a report on Monday, May 11th. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, CG Oncology presently has a consensus 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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