Traders Buy Large Volume of CG Oncology Call Options (NASDAQ:CGON)

CG Oncology, Inc. (NASDAQ:CGON) was the recipient of unusually large options trading activity on Tuesday. Traders bought 16,016 call options on the stock. This represents an increase of approximately 572% compared to the average daily volume of 2,384 call options.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Truist Financial restated a “buy” rating and set a $82.00 price target (up from $77.00) on shares of CG Oncology in a report on Thursday, May 14th. HC Wainwright reaffirmed a “buy” rating and set a $100.00 price objective on shares of CG Oncology in a research report on Wednesday, July 29th. JPMorgan Chase & Co. boosted their price target on CG Oncology from $91.00 to $96.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Wolfe Research assumed coverage on shares of CG Oncology in a research note on Tuesday, May 19th. They issued a “peer perform” rating for the company. Finally, Wedbush increased their target price on CG Oncology from $77.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $81.73.

CG Oncology Trading Up 4.0%

CGON stock traded up $2.77 during trading on Tuesday, reaching $71.92. 274,712 shares of the stock were exchanged, compared to its average volume of 1,163,556. CG Oncology has a twelve month low of $23.65 and a twelve month high of $77.00. The company has a market capitalization of $6.34 billion, a P/E ratio of -30.87 and a beta of 0.23. The stock has a 50 day simple moving average of $66.16 and a 200-day simple moving average of $63.48.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings data on Friday, May 8th. The company reported ($0.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.13). The business had revenue of $1.08 million during the quarter, compared to the consensus estimate of $0.45 million. Equities analysts predict that CG Oncology will post -2.89 EPS for the current year.

Insider Activity at CG Oncology

In related news, Director James Mulay sold 24,165 shares of the company’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $75.16, for a total value of $1,816,241.40. Following the completion of the sale, the director owned 24,165 shares of the company’s stock, valued at $1,816,241.40. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Leonard E. Post sold 5,000 shares of CG Oncology stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $70.00, for a total value of $350,000.00. Following the transaction, the director directly owned 5,000 shares in the company, valued at approximately $350,000. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 37,129 shares of company stock worth $2,663,817 over the last ninety days. 4.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CG Oncology

Institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC acquired a new stake in CG Oncology during the first quarter valued at approximately $475,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in CG Oncology by 18.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,522 shares of the company’s stock worth $876,000 after acquiring an additional 5,442 shares in the last quarter. Millennium Management LLC raised its stake in CG Oncology by 139.4% during the first quarter. Millennium Management LLC now owns 596,056 shares of the company’s stock worth $14,597,000 after acquiring an additional 347,055 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of CG Oncology by 42.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 179,363 shares of the company’s stock valued at $4,393,000 after acquiring an additional 53,461 shares during the period. Finally, Legal & General Group Plc lifted its holdings in shares of CG Oncology by 12.3% during the second quarter. Legal & General Group Plc now owns 44,354 shares of the company’s stock valued at $1,153,000 after acquiring an additional 4,847 shares during the period. Institutional investors own 26.56% of the company’s stock.

CG Oncology Company Profile

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.