CG Oncology Target of Unusually Large Options Trading (NASDAQ:CGON)

CG Oncology, Inc. (NASDAQ:CGON) saw unusually large options trading on Friday. Stock traders acquired 8,896 call options on the company. This represents an increase of approximately 262% compared to the average daily volume of 2,457 call options.

Insider Activity

In other news, Director James Mulay sold 24,165 shares of the company’s stock in a transaction on Friday, July 10th. The stock was sold at an average price of $75.16, for a total transaction of $1,816,241.40. Following the transaction, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Brian Guan-Chyun Liu acquired 371,085 shares of the stock in a transaction that occurred on Thursday, June 25th. The stock was purchased at an average price of $66.87 per share, with a total value of $24,814,453.95. Following the completion of the transaction, the director owned 1,886,236 shares of the company’s stock, valued at approximately $126,132,601.32. This trade represents a 24.49% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold 37,129 shares of company stock valued at $2,663,817 over the last 90 days. 4.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On CG Oncology

Several hedge funds have recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. bought a new position in shares of CG Oncology during the fourth quarter worth $27,000. NFSG Corp bought a new stake in shares of CG Oncology in the 1st quarter valued at $34,000. Comerica Bank increased its position in shares of CG Oncology by 100.4% in the 4th quarter. Comerica Bank now owns 1,028 shares of the company’s stock valued at $43,000 after buying an additional 515 shares in the last quarter. Fifth Third Bancorp acquired a new stake in CG Oncology during the 1st quarter worth $74,000. Finally, KBC Group NV acquired a new stake in CG Oncology during the 1st quarter worth $78,000. 26.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on CGON. Truist Financial reiterated a “buy” rating and set a $82.00 price target (up from $77.00) on shares of CG Oncology in a research report on Thursday, May 14th. Wolfe Research started coverage on shares of CG Oncology in a report on Tuesday, May 19th. They issued a “peer perform” rating on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CG Oncology in a research note on Monday, April 20th. Wall Street Zen lowered shares of CG Oncology from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Finally, Royal Bank Of Canada upped their target price on shares of CG Oncology from $79.00 to $81.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $81.73.

CG Oncology Trading Up 3.4%

CG Oncology stock opened at $71.85 on Friday. The firm has a market capitalization of $6.34 billion, a P/E ratio of -30.84 and a beta of 0.22. The business has a 50-day moving average of $65.27 and a 200-day moving average of $61.29. CG Oncology has a 1 year low of $23.65 and a 1 year high of $77.00.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings results on Friday, May 8th. The company reported ($0.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.13). The company had revenue of $1.08 million for the quarter, compared to analyst estimates of $0.45 million. Research analysts anticipate that CG Oncology will post -2.89 EPS for the current fiscal year.

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.