CG Oncology, Inc. (NASDAQ:CGON) Director Hong Fang Song Sells 700,000 Shares

CG Oncology, Inc. (NASDAQ:CGON) Director Hong Fang Song sold 700,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $28.00, for a total transaction of $19,600,000.00. Following the completion of the transaction, the director now directly owns 3,003,931 shares of the company’s stock, valued at $84,110,068. The trade was a 18.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

CG Oncology Trading Up 0.2 %

Shares of CGON stock opened at $29.27 on Wednesday. CG Oncology, Inc. has a twelve month low of $25.77 and a twelve month high of $50.23. The stock has a 50 day moving average of $35.10 and a 200 day moving average of $34.88.

CG Oncology (NASDAQ:CGON) last posted its earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.06. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. The firm had revenue of $0.04 million during the quarter, compared to analyst estimates of $0.30 million. On average, equities research analysts forecast that CG Oncology, Inc. will post -1.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Amalgamated Bank grew its position in shares of CG Oncology by 107.6% during the 3rd quarter. Amalgamated Bank now owns 1,621 shares of the company’s stock valued at $61,000 after acquiring an additional 840 shares during the period. California State Teachers Retirement System acquired a new stake in CG Oncology in the first quarter valued at approximately $103,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of CG Oncology in the third quarter valued at approximately $241,000. Profund Advisors LLC purchased a new stake in shares of CG Oncology in the second quarter valued at approximately $300,000. Finally, HighVista Strategies LLC acquired a new position in shares of CG Oncology during the 3rd quarter worth approximately $594,000. Institutional investors and hedge funds own 26.56% of the company’s stock.

Analyst Ratings Changes

CGON has been the topic of a number of recent analyst reports. Roth Mkm began coverage on shares of CG Oncology in a research note on Tuesday, August 27th. They set a “buy” rating and a $65.00 price target on the stock. Bank of America restated a “buy” rating and issued a $65.00 target price on shares of CG Oncology in a research note on Tuesday, October 8th. Roth Capital upgraded CG Oncology to a “strong-buy” rating in a research note on Tuesday, August 27th. HC Wainwright restated a “buy” rating and issued a $75.00 price objective on shares of CG Oncology in a research note on Friday, December 6th. Finally, UBS Group began coverage on CG Oncology in a research report on Thursday, October 24th. They issued a “buy” rating and a $60.00 target price on the stock. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CG Oncology has an average rating of “Buy” and an average target price of $63.88.

CG Oncology Company Profile

CG Oncology, Inc, an oncolytic immunotherapy company, focuses on developing and commercializing backbone bladder-sparing therapeutics for patients with bladder cancer. The company develops BOND-003 for the treatment of high-risk bacillus calmette guerin (BCG)-unresponsive non-muscle invasive bladder cancer (NMIBC) patients; CORE-001 to treat cretostimogene in combination with pembrolizumab in high-risk BCG-unresponsive NMIBC patients; and CORE-002 for the treatment of cretostimogene in combination with the checkpoint inhibitor nivolumab in muscle invasive bladder cancer patients.