Key Points
- CG Oncology director James Mulay sold 24,165 shares on July 10 at an average price of $75.16, totaling about $1.82 million. The sale cut his direct stake by 50%.
- The stock has been trading near its highs, opening at $71.77 with a 52-week range of $23.65 to $77.00. CG Oncology is valued at about $6.33 billion and has risen above its 50-day and 200-day moving averages.
- Analysts remain broadly positive despite the company’s recent earnings miss, with a consensus rating of “Moderate Buy” and an average price target of $81.73. The company reported a larger-than-expected loss per share in its latest quarter, even though revenue beat estimates.
CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) Director James Mulay sold 24,165 shares of the company's stock in a transaction on Friday, July 10th. The stock was sold at an average price of $75.16, for a total transaction of $1,816,241.40. Following the completion of the transaction, the director directly owned 24,165 shares of the company's stock, valued at $1,816,241.40. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.
James Mulay also recently made the following trade(s):
- On Monday, June 15th, James Mulay sold 1,964 shares of CG Oncology stock. The stock was sold at an average price of $60.12, for a total value of $118,075.68.
- On Friday, April 17th, James Mulay sold 15,600 shares of CG Oncology stock. The shares were sold at an average price of $73.01, for a total value of $1,138,956.00.
CG Oncology Stock Down 1.0%
Shares of CG Oncology stock opened at $71.77 on Wednesday. The company has a market capitalization of $6.33 billion, a price-to-earnings ratio of -30.80 and a beta of 0.22. The stock's 50-day simple moving average is $65.12 and its 200-day simple moving average is $60.78. CG Oncology, Inc. has a 52 week low of $23.65 and a 52 week high of $77.00.
CG Oncology (NASDAQ:CGON - Get Free Report) last released its earnings results on Friday, May 8th. The company reported ($0.71) earnings per share (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 analysts' expectations of $0.45 million. On average, equities analysts expect that CG Oncology, Inc. will post -2.89 earnings per share for the current year.
Analysts Set New Price Targets
Several research firms have recently issued reports on CGON. Truist Financial reiterated a "buy" rating and set a $82.00 price objective (up from $77.00) on shares of CG Oncology in a research report on Thursday, May 14th. Wedbush lifted their price target 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. JPMorgan Chase & Co. boosted their price target on shares of CG Oncology from $91.00 to $96.00 and gave the stock an "overweight" rating in a research note on Monday, May 11th. HC Wainwright reissued a "buy" rating and set a $100.00 price objective on shares of CG Oncology in a report on Monday, May 18th. Finally, Wolfe Research started coverage on CG Oncology in a report on Tuesday, May 19th. They issued a "peer perform" rating on the stock. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $81.73.
Get Our Latest Research Report on CGON
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the business. Tema ETFs LLC increased its position in CG Oncology by 8.8% in the second quarter. Tema ETFs LLC now owns 68,702 shares of the company's stock worth $4,881,000 after purchasing an additional 5,539 shares during the last quarter. Handelsbanken Fonder AB grew its stake in shares of CG Oncology by 5.8% in the 2nd quarter. Handelsbanken Fonder AB now owns 21,900 shares of the company's stock worth $1,556,000 after buying an additional 1,200 shares in the last quarter. Bank of America Corp DE grew its stake in shares of CG Oncology by 21.8% in the 1st quarter. Bank of America Corp DE now owns 1,449,364 shares of the company's stock worth $98,093,000 after buying an additional 259,311 shares in the last quarter. Stempoint Capital LP bought a new stake in shares of CG Oncology in the 1st quarter worth about $13,916,000. Finally, California State Teachers Retirement System raised its position in shares of CG Oncology by 23.6% during the 1st quarter. California State Teachers Retirement System now owns 51,499 shares of the company's stock valued at $3,485,000 after buying an additional 9,841 shares in the last quarter. 26.56% of the stock is owned by hedge funds and other institutional investors.
About CG Oncology
(
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.
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