Key Points
- Director Leonard Post sold 1,000 CG Oncology shares at an average price of $62.06, generating $62,060 and reducing his ownership by 50% to 1,000 shares.
- CG Oncology reported a quarterly loss of $0.90 per share, missing the $0.66 consensus estimate, though revenue of $1.16 million exceeded expectations.
- Analysts maintain a generally positive outlook, with eight Buy ratings, one Hold and one Sell; the consensus rating is “Moderate Buy” with an average price target of $87.50.
CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) Director Leonard Post sold 1,000 shares of CG Oncology stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $62.06, for a total value of $62,060.00. Following the completion of the sale, the director owned 1,000 shares of the company's stock, valued at $62,060. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
CG Oncology Price Performance
NASDAQ:CGON opened at $59.96 on Tuesday. CG Oncology, Inc. has a 1-year low of $35.80 and a 1-year high of $80.97. The company has a 50-day moving average of $71.93 and a 200 day moving average of $68.92. The firm has a market cap of $5.31 billion, a PE ratio of -22.29 and a beta of 0.28.
CG Oncology (NASDAQ:CGON - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Sell-side analysts anticipate that CG Oncology, Inc. will post -3.31 EPS for the current fiscal year.
Analysts Set New Price Targets
CGON has been the subject of several research reports. Truist Financial upped their price target on shares of CG Oncology from $82.00 to $85.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Royal Bank Of Canada cut their price objective on shares of CG Oncology from $81.00 to $79.00 and set an "outperform" rating on the stock in a report on Friday, August 7th. HC Wainwright reissued a "buy" rating and set a $100.00 price objective on shares of CG Oncology in a report on Wednesday, July 29th. Wall Street Zen downgraded shares of CG Oncology from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 8th. Finally, Piper Sandler upped their target price on CG Oncology from $82.00 to $85.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Eight investment 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, the company currently has a consensus rating of "Moderate Buy" and an average target price of $87.50.
View Our Latest Stock Report on CG Oncology
Institutional Investors Weigh In On CG Oncology
A number of institutional investors have recently added to or reduced their stakes in CGON. BlackRock Inc. purchased a new position in CG Oncology in the second quarter valued at about $444,509,000. Seven Fleet Capital Management LP raised its holdings in CG Oncology by 24.5% in the second quarter. Seven Fleet Capital Management LP now owns 1,886,236 shares of the company's stock worth $134,017,000 after purchasing an additional 371,085 shares in the last quarter. Bank of America Corp DE raised its holdings in CG Oncology by 21.8% in the first quarter. Bank of America Corp DE now owns 1,449,364 shares of the company's stock worth $98,093,000 after purchasing an additional 259,311 shares in the last quarter. EcoR1 Capital LLC lifted its position in shares of CG Oncology by 3.5% during the first quarter. EcoR1 Capital LLC now owns 1,102,000 shares of the company's stock valued at $74,583,000 after buying an additional 37,200 shares during the last quarter. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of CG Oncology during the second quarter valued at about $54,705,000. Institutional investors own 26.56% of the company's stock.
About CG Oncology
(
Get Free Report)
CG Oncology, Inc (NASDAQ: CGON) is a clinical-stage biotechnology company focused on developing therapies for bladder cancer and other cancers affecting the urinary tract. The company is developing medicines designed to stimulate the immune system and target tumor cells within the bladder.
Its lead product candidate is cretostimogene grenadenorep, an investigational intravesical therapy based on an oncolytic adenovirus. The treatment is designed to be administered directly into the bladder, where it may selectively infect cancer cells, promote their destruction and activate an immune response against the tumor.
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