CG Oncology Sees Unusually Large Options Volume (NASDAQ:CGON)

CG Oncology, Inc. (NASDAQ:CGON) was the recipient of unusually large options trading activity on Wednesday. Stock traders purchased 30,105 call options on the stock. This represents an increase of 3,313% compared to the average daily volume of 882 call options.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. HC Wainwright lifted their price objective on CG Oncology from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Truist Financial raised their target price on CG Oncology from $66.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. Wedbush initiated coverage on CG Oncology in a research report on Thursday, December 11th. They issued an “outperform” rating and a $70.00 target price for the company. Royal Bank Of Canada increased their price target on shares of CG Oncology from $61.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of CG Oncology in a research note on Wednesday, January 21st. Eleven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, CG Oncology presently has a consensus rating of “Moderate Buy” and an average target price of $69.00.

CG Oncology Trading Up 1.7%

CG Oncology stock opened at $61.57 on Thursday. The company has a fifty day simple moving average of $51.60 and a 200-day simple moving average of $42.92. The stock has a market cap of $5.20 billion, a P/E ratio of -29.74 and a beta of 1.18. CG Oncology has a 12-month low of $14.80 and a 12-month high of $63.58.

CG Oncology (NASDAQ:CGON) last posted its quarterly earnings results on Friday, February 27th. The company reported ($0.51) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.10. The business had revenue of $2.32 million during the quarter. As a group, sell-side analysts forecast that CG Oncology will post -1.31 earnings per share for the current fiscal year.

Insider Activity at CG Oncology

In other CG Oncology news, Director James Mulay sold 11,145 shares of CG Oncology stock in a transaction on Friday, January 9th. The stock was sold at an average price of $52.47, for a total value of $584,778.15. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 7.40% of the company’s stock.

Institutional Trading of CG Oncology

Several institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. grew its position in shares of CG Oncology by 15.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,279 shares of the company’s stock valued at $85,000 after buying an additional 433 shares during the last quarter. Comerica Bank grew its holdings in shares of CG Oncology by 100.4% during the fourth quarter. Comerica Bank now owns 1,028 shares of the company’s stock worth $43,000 after purchasing an additional 515 shares during the last quarter. LPL Financial LLC increased its position in shares of CG Oncology by 9.8% during the fourth quarter. LPL Financial LLC now owns 6,201 shares of the company’s stock worth $257,000 after purchasing an additional 551 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of CG Oncology during the fourth quarter worth about $27,000. Finally, CWM LLC lifted its holdings in shares of CG Oncology by 10.9% in the 3rd quarter. CWM LLC now owns 6,865 shares of the company’s stock valued at $277,000 after purchasing an additional 672 shares during the last quarter. Hedge funds and other 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 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.