Insider Selling: CG Oncology (NASDAQ:CGON) Director Sells 5,000 Shares of Stock

CG Oncology, Inc. (NASDAQ:CGON) Director Leonard Post sold 5,000 shares of CG Oncology stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $65.00, for a total transaction of $325,000.00. Following the sale, the director owned 5,000 shares in the company, valued at approximately $325,000. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

CG Oncology Trading Down 0.8%

Shares of NASDAQ:CGON traded down $0.52 during midday trading on Tuesday, reaching $65.73. 846,571 shares of the company were exchanged, compared to its average volume of 1,179,023. The business’s fifty day moving average is $64.22 and its two-hundred day moving average is $57.37. CG Oncology, Inc. has a one year low of $23.65 and a one year high of $75.50. The stock has a market cap of $5.80 billion, a PE ratio of -28.21 and a beta of 0.31.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings results on Friday, May 8th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.13). The business had revenue of $1.08 million for the quarter, compared to the consensus estimate of $0.45 million. As a group, sell-side analysts expect that CG Oncology, Inc. will post -2.89 EPS for the current year.

Institutional Investors Weigh In On CG Oncology

Several institutional investors have recently made changes to their positions in CGON. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of CG Oncology during the 4th quarter worth about $27,000. NFSG Corp purchased a new stake in CG Oncology in the 1st quarter worth about $34,000. Comerica Bank lifted its stake in CG Oncology by 100.4% in the fourth quarter. Comerica Bank now owns 1,028 shares of the company’s stock worth $43,000 after purchasing an additional 515 shares during the last quarter. Fifth Third Bancorp bought a new stake in CG Oncology in the first quarter worth about $74,000. Finally, KBC Group NV bought a new stake in CG Oncology in the first quarter worth about $78,000. Institutional investors own 26.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Royal Bank Of Canada boosted their target price on CG Oncology from $79.00 to $81.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Wall Street Zen downgraded CG Oncology from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CG Oncology in a report on Monday, April 20th. Truist Financial reiterated a “buy” rating and set a $82.00 target price (up from $77.00) on shares of CG Oncology in a research report on Thursday, May 14th. Finally, Wolfe Research began coverage on shares of CG Oncology in a report on Tuesday, May 19th. They issued a “peer perform” rating for the company. Eleven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, CG Oncology has an average rating of “Moderate Buy” and an average price target of $81.73.

About CG Oncology

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.