Leonard Post Sells 1,000 Shares of CG Oncology (NASDAQ:CGON) Stock

CG Oncology, Inc. (NASDAQ:CGON) Director Leonard Post sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $72.98, for a total transaction of $72,980.00. Following the completion of the transaction, the director directly owned 1,000 shares in the company, valued at approximately $72,980. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

CG Oncology Stock Down 1.3%

CG Oncology stock opened at $74.62 on Friday. The stock has a market cap of $6.61 billion, a price-to-earnings ratio of -27.74 and a beta of 0.24. The business has a 50-day simple moving average of $74.06 and a 200 day simple moving average of $68.45. CG Oncology, Inc. has a 52 week low of $35.64 and a 52 week high of $80.97.

CG Oncology (NASDAQ:CGON) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.90) earnings per share 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 company had revenue of $1.16 million during the quarter, compared to the consensus estimate of $0.36 million. On average, research analysts anticipate that CG Oncology, Inc. will post -3.31 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CGON. Fiduciary Financial Advisors bought a new stake in shares of CG Oncology during the 2nd quarter valued at about $28,000. NFSG Corp bought a new position in CG Oncology in the first quarter worth about $34,000. Fifth Third Bancorp purchased a new stake in CG Oncology in the first quarter worth about $74,000. KBC Group NV bought a new stake in CG Oncology during the 1st quarter valued at approximately $78,000. Finally, ABS Direct Equity Fund LLC purchased a new position in shares of CG Oncology during the 1st quarter worth approximately $176,000. 26.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CGON. Royal Bank Of Canada dropped their price target on shares of CG Oncology from $81.00 to $79.00 and set an “outperform” rating for the company in a research report on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CG Oncology in a research note on Friday, July 17th. Wall Street Zen lowered shares of CG Oncology from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Truist Financial raised their target price on CG Oncology from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $100.00 price target on shares of CG Oncology in a research report on Wednesday, July 29th. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $87.78.

About CG Oncology

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).