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

Key Points

• Director Leonard Post sold 1,000 CG Oncology shares at an average price of $74.54, generating $74,540 and reducing his direct holdings by 50% to 1,000 shares.
• CG Oncology shares fell 1.1% to $76.29, while the company reported a quarterly loss of $0.90 per share—worse than the $0.66 analyst estimate—despite revenue exceeding expectations.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $83.18, although the company remains unprofitable and institutional investors own 26.56% of its stock.

CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) Director Leonard Post sold 1,000 shares of the firm's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $74.54, for a total value of $74,540.00. Following the sale, the director directly owned 1,000 shares in the company, valued at approximately $74,540. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

CG Oncology Trading Down 1.1%

Shares of NASDAQ:CGON traded down $0.82 during trading on Tuesday, hitting $76.29. 562,498 shares of the company's stock traded hands, compared to its average volume of 1,142,577. The company has a 50-day moving average price of $69.60 and a 200-day moving average price of $64.91. CG Oncology, Inc. has a 52 week low of $24.85 and a 52 week high of $79.39. The company has a market cap of $6.76 billion, a price-to-earnings ratio of -28.36 and a beta of 0.23.

CG Oncology (NASDAQ:CGON - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.24). The business had revenue of $1.16 million for the quarter, compared to the consensus estimate of $0.36 million. CG Oncology had a negative return on equity of 25.20% and a negative net margin of 3,602.68%. On average, analysts predict that CG Oncology, Inc. will post -3.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CG Oncology

Several hedge funds have recently made changes to their positions in CGON. Jennison Associates LLC acquired a new position in CG Oncology during the fourth quarter worth $11,730,000. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in CG Oncology by 623.8% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 37,834 shares of the company's stock valued at $1,571,000 after buying an additional 32,607 shares during the last quarter. Pictet Asset Management Holding SA increased its stake in CG Oncology by 2.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,349,527 shares of the company's stock valued at $56,032,000 after buying an additional 30,960 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new stake in CG Oncology during the 4th quarter worth about $606,000. Finally, Hsbc Holdings PLC bought a new stake in CG Oncology during the 1st quarter worth about $12,708,000. 26.56% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CGON shares. Weiss Ratings reissued a "sell (d-)" rating on shares of CG Oncology in a research report on Friday, July 17th. Wolfe Research started coverage on shares of CG Oncology in a research note on Tuesday, May 19th. They issued a "peer perform" rating for the company. Wall Street Zen cut CG Oncology from a "sell" rating to a "strong sell" rating in a report on Saturday, August 8th. JPMorgan Chase & Co. lifted their price target on CG Oncology from $91.00 to $96.00 and gave the company an "overweight" rating in a research note on Monday, May 11th. Finally, HC Wainwright restated a "buy" rating and issued a $100.00 price target on shares of CG Oncology in a report on Wednesday, July 29th. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.18.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source