Key Points
- Director Leonard Post sold 1,000 CG Oncology shares at an average price of $72.98, generating $72,980 and reducing his ownership by 50% to 1,000 shares.
- CG Oncology shares opened at $75.62, near their 52-week high of $80.97. The company reported a quarterly loss of $0.90 per share, missing estimates of $0.66, despite revenue of $1.16 million exceeding forecasts.
- Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $87.78; institutional investors own 26.56% of the company.
CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) Director Leonard Post sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $72.98, for a total transaction of $72,980.00. Following the completion of the transaction, the director owned 1,000 shares of the company's stock, valued at approximately $72,980. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
CG Oncology Stock Performance
Shares of NASDAQ:CGON opened at $75.62 on Friday. The firm has a market cap of $6.70 billion, a PE ratio of -28.11 and a beta of 0.24. The firm's fifty day moving average is $74.08 and its 200-day moving average is $68.41. CG Oncology, Inc. has a 52 week low of $35.64 and a 52 week high of $80.97.
CG Oncology (NASDAQ:CGON - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.90) earnings per share for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.24). The company had revenue of $1.16 million during the quarter, compared to analyst estimates of $0.36 million. CG Oncology had a negative net margin of 3,602.68% and a negative return on equity of 25.20%. Sell-side analysts forecast that CG Oncology, Inc. will post -3.31 EPS for the current year.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on CGON. Weiss Ratings reissued a "sell (d-)" rating on shares of CG Oncology in a research note on Friday, July 17th. Truist Financial upped their target price on CG Oncology from $82.00 to $85.00 and gave the company a "buy" rating in a report on Friday, August 7th. Piper Sandler raised their price target on shares of CG Oncology from $82.00 to $85.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Royal Bank Of Canada dropped their price target on shares of CG Oncology from $81.00 to $79.00 and set an "outperform" rating on the stock in a research report on Friday, August 7th. Finally, Wall Street Zen cut shares of CG Oncology from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 8th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $87.78.
Get Our Latest Research Report on CGON
Institutional Investors Weigh In On CG Oncology
Several institutional investors and hedge funds have recently made changes to their positions in the business. Tidal Investments LLC grew its stake in CG Oncology by 8.8% during the second quarter. Tidal Investments LLC now owns 68,702 shares of the company's stock worth $4,881,000 after purchasing an additional 5,539 shares during the period. WINTON GROUP Ltd bought a new stake in CG Oncology in the second quarter worth approximately $718,000. Squarepoint Ops LLC acquired a new position in CG Oncology in the second quarter valued at approximately $1,029,000. Arizona State Retirement System lifted its stake in CG Oncology by 19.0% in the second quarter. Arizona State Retirement System now owns 13,979 shares of the company's stock valued at $993,000 after buying an additional 2,232 shares during the period. Finally, Nykredit A S bought a new position in shares of CG Oncology during the 2nd quarter worth approximately $245,000. Institutional investors own 26.56% of the company's stock.
CG Oncology Company Profile
(
Get Free Report)
CG Oncology, Inc (NASDAQ: CGON) is a clinical-stage biotechnology company focused on developing therapies for bladder cancer. The company's research is centered on treatments designed to stimulate the immune system and target tumors directly, with an emphasis on non-muscle-invasive bladder cancer (NMIBC).
Its lead investigational product, cretostimogene grenadenorep, also known as CG0070, is an intravesical oncolytic adenovirus intended for administration directly into the bladder. The therapy is designed to selectively replicate in cancer cells, promote tumor-cell destruction and stimulate an immune response through the production of granulocyte-macrophage colony-stimulating factor (GM-CSF).
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