CG Oncology (NASDAQ:CGON) Stock Sees Heavy Call Option Buying

CG Oncology, Inc. (NASDAQ:CGON) was the target of some unusual options trading activity on Monday. Investors bought 3,347 call options on the company. This represents an increase of approximately 74% compared to the typical volume of 1,919 call options.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CGON. Truist Financial lifted their price objective on shares of CG Oncology from $82.00 to $85.00 and gave the company a “buy” rating in a report on Friday, August 7th. Piper Sandler boosted their price objective on 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 lowered their price objective on CG Oncology from $81.00 to $79.00 and set an “outperform” rating for the company in a research note on Friday, August 7th. Weiss Ratings restated a “sell (d-)” rating on shares of CG Oncology in a report on Thursday. Finally, Wall Street Zen cut CG Oncology from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $87.50.

CG Oncology Stock Up 0.4%

CGON stock traded up $0.25 during trading on Monday, reaching $60.10. The stock had a trading volume of 114,592 shares, compared to its average volume of 1,088,729. The company has a market capitalization of $5.33 billion, a price-to-earnings ratio of -22.35 and a beta of 0.28. CG Oncology has a one year low of $35.80 and a one year high of $80.97. The company’s 50 day moving average is $72.27 and its two-hundred day moving average is $68.97.

CG Oncology (NASDAQ:CGON) last posted its earnings results on Thursday, August 6th. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.24). CG Oncology had a negative return on equity of 25.20% and a negative net margin of 3,602.68%. The firm had revenue of $1.16 million for the quarter, compared to the consensus estimate of $0.36 million. As a group, research analysts predict that CG Oncology will post -3.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the company’s stock in a transaction 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 transaction, the director owned 1,000 shares in the company, valued at approximately $72,980. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CGON. Fiduciary Financial Advisors purchased a new stake in shares of CG Oncology during the 2nd quarter valued at $28,000. NFSG Corp bought a new stake in shares of CG Oncology during the 1st quarter worth $34,000. GAMMA Investing LLC raised its stake in shares of CG Oncology by 47.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,081 shares of the company’s stock worth $77,000 after purchasing an additional 350 shares during the period. Fifth Third Bancorp bought a new position in CG Oncology during the first quarter valued at about $74,000. Finally, KBC Group NV purchased a new stake in CG Oncology during the first quarter worth about $78,000. Institutional investors own 26.56% of the company’s stock.

About CG Oncology

CG Oncology, Inc (NASDAQ: CGON) is a clinical-stage biopharmaceutical company focused on developing therapies for bladder cancer and other cancers of the urinary tract. The company’s research centers on cancer-directed immunotherapies designed to stimulate the immune system and target tumor cells.

Its lead product candidate is cretostimogene grenadenorepvec, an intravesical oncolytic adenovirus being studied for the treatment of non-muscle-invasive bladder cancer (NMIBC). The therapy is designed to be delivered directly into the bladder, where it may selectively infect tumor cells and activate an immune response against cancer.

CG Oncology has evaluated cretostimogene in clinical studies involving patients with NMIBC, including individuals whose disease has not responded adequately to Bacillus Calmette-Guérin (BCG), a standard bladder cancer treatment.