Key Points
- CG Oncology director Leonard Post sold 1,000 shares on June 4 at an average price of $54.50, trimming his position by 50% and leaving him with 1,000 shares worth about $54,500.
- The stock fell 4.2% and opened Friday at $53.72, below both its 50-day moving average of $65.98 and 200-day moving average of $56.03.
- Analysts remain generally bullish despite mixed signals: the stock has a consensus rating of “Moderate Buy” with an average price target of $81.73, while the company recently reported an EPS miss for the quarter.
CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) Director Leonard Post sold 1,000 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $54.50, for a total value of $54,500.00. Following the completion of the transaction, the director directly owned 1,000 shares in the company, valued at approximately $54,500. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
CG Oncology Stock Down 4.2%
CGON stock opened at $53.72 on Friday. The business's fifty day moving average is $65.98 and its 200-day moving average is $56.03. The company has a market cap of $4.74 billion, a P/E ratio of -23.06 and a beta of 0.31. CG Oncology, Inc. has a twelve month low of $23.65 and a twelve month high of $75.50.
CG Oncology (NASDAQ:CGON - Get Free Report) last issued its quarterly earnings data on Friday, May 8th. The company reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.13). The company had revenue of $1.08 million during the quarter, compared to analyst estimates of $0.45 million. Research analysts anticipate that CG Oncology, Inc. will post -2.89 earnings per share for the current fiscal year.
Institutional Trading of CG Oncology
Hedge funds and other institutional investors have recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of CG Oncology in the 4th quarter valued at about $27,000. NFSG Corp acquired a new stake in shares of CG Oncology in the 1st quarter valued at about $34,000. Comerica Bank raised its stake in shares of CG Oncology by 100.4% in the 4th quarter. Comerica Bank now owns 1,028 shares of the company's stock valued at $43,000 after purchasing an additional 515 shares during the period. Fifth Third Bancorp acquired a new stake in shares of CG Oncology in the 1st quarter valued at about $74,000. Finally, KBC Group NV acquired a new stake in shares of CG Oncology in the 1st quarter valued at about $78,000. Institutional investors and hedge funds own 26.56% of the company's stock.
Analysts Set New Price Targets
Several analysts recently commented on CGON shares. Wedbush raised their price objective on CG Oncology from $77.00 to $80.00 and gave the stock an "outperform" rating in a research note on Monday, May 11th. Truist Financial reaffirmed a "buy" rating and set a $82.00 price objective (up from $77.00) on shares of CG Oncology in a research note on Thursday, May 14th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of CG Oncology in a research note on Monday, April 20th. Royal Bank Of Canada raised their price objective on CG Oncology from $79.00 to $81.00 and gave the stock an "outperform" rating in a research note on Monday, May 11th. Finally, JPMorgan Chase & Co. raised their price objective on CG Oncology from $91.00 to $96.00 and gave the stock an "overweight" rating in a research note on Monday, May 11th. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $81.73.
Read Our Latest Research Report on CGON
CG Oncology Company Profile
(
Get Free Report)
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.
Further Reading
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