James Mulay Sells 27,015 Shares of CG Oncology (NASDAQ:CGON) Stock

Key Points

• James Mulay, the director of CG Oncology, sold 27,015 shares of the company at an average price of $31.53, totaling approximately $851,782.95.
• CG Oncology's stock price increased to $33.69 following a trading volume significantly above its average, while the company has a market capitalization of $2.57 billion.
• Analysts have mixed ratings for CG Oncology, with one rating it a Strong Buy, while others have recently downgraded it to a "sell," reflecting ongoing uncertainty in the stock's performance.

CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) Director James Mulay sold 27,015 shares of the business's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $31.53, for a total transaction of $851,782.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

CG Oncology Stock Performance

Shares of NASDAQ:CGON traded up $0.62 on Monday, hitting $33.69. The stock had a trading volume of 1,767,845 shares, compared to its average volume of 975,837. The firm's 50 day moving average price is $26.51 and its 200-day moving average price is $25.29. CG Oncology, Inc. has a twelve month low of $14.80 and a twelve month high of $40.47. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of -19.03 and a beta of 0.87.

CG Oncology (NASDAQ:CGON - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The company reported ($0.54) EPS for the quarter, missing analysts' consensus estimates of ($0.49) by ($0.05). CG Oncology had a negative net margin of 15,945.17% and a negative return on equity of 19.37%. As a group, sell-side analysts predict that CG Oncology, Inc. will post -1.31 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CGON shares. Wall Street Zen lowered CG Oncology from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Piper Sandler started coverage on CG Oncology in a research report on Monday, August 18th. They issued an "overweight" rating and a $55.00 price objective for the company. HC Wainwright reiterated a "buy" rating and issued a $75.00 price objective on shares of CG Oncology in a research report on Friday. Morgan Stanley boosted their price objective on CG Oncology from $52.00 to $56.00 and gave the company an "overweight" rating in a research report on Tuesday, June 17th. Finally, Jones Trading initiated coverage on CG Oncology in a research report on Monday. They set a "buy" rating and a $50.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $53.91.

Institutional Investors Weigh In On CG Oncology

A number of large investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC raised its stake in CG Oncology by 159.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,982 shares of the company's stock valued at $182,000 after acquiring an additional 4,288 shares during the period. E Fund Management Co. Ltd. bought a new position in CG Oncology during the 2nd quarter worth $232,000. Rafferty Asset Management LLC increased its position in CG Oncology by 12.3% during the 2nd quarter. Rafferty Asset Management LLC now owns 80,228 shares of the company's stock worth $2,086,000 after buying an additional 8,802 shares during the period. Rosalind Advisors Inc. bought a new position in CG Oncology during the 2nd quarter worth $5,017,000. Finally, Opaleye Management Inc. increased its position in CG Oncology by 62.2% during the 2nd quarter. Opaleye Management Inc. now owns 266,000 shares of the company's stock worth $6,916,000 after buying an additional 102,012 shares during the period. Institutional investors own 26.56% of the company's stock.

About CG Oncology

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.