CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) Director Hong Fang Song sold 700,000 shares of CG Oncology stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $28.00, for a total value of $19,600,000.00. Following the completion of the sale, the director now owns 3,003,931 shares in the company, valued at approximately $84,110,068. The trade was a 18.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
CG Oncology Stock Up 0.2 %
Shares of CGON stock opened at $29.27 on Wednesday. The firm's 50-day moving average is $35.10 and its two-hundred day moving average is $34.88. CG Oncology, Inc. has a 12 month low of $25.77 and a 12 month high of $50.23.
CG Oncology (NASDAQ:CGON - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.06. The firm had revenue of $0.04 million for the quarter, compared to analyst estimates of $0.30 million. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. As a group, equities analysts predict that CG Oncology, Inc. will post -1.32 EPS for the current fiscal year.
Hedge Funds Weigh In On CG Oncology
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A number of hedge funds have recently modified their holdings of CGON. Ally Bridge Group NY LLC raised its holdings in CG Oncology by 50.5% in the 3rd quarter. Ally Bridge Group NY LLC now owns 263,266 shares of the company's stock valued at $9,933,000 after buying an additional 88,390 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of CG Oncology by 114.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 379,664 shares of the company's stock valued at $14,325,000 after acquiring an additional 202,262 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of CG Oncology by 876.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 26,660 shares of the company's stock worth $1,006,000 after acquiring an additional 23,931 shares during the last quarter. Deerfield Management Company L.P. Series C boosted its position in shares of CG Oncology by 811.9% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 433,540 shares of the company's stock worth $13,687,000 after purchasing an additional 386,000 shares during the period. Finally, Ensign Peak Advisors Inc acquired a new stake in CG Oncology in the 2nd quarter valued at approximately $1,912,000. 26.56% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the company. UBS Group initiated coverage on CG Oncology in a research report on Thursday, October 24th. They issued a "buy" rating and a $60.00 target price on the stock. HC Wainwright restated a "buy" rating and issued a $75.00 price objective on shares of CG Oncology in a report on Friday, December 6th. Royal Bank of Canada reiterated an "outperform" rating and issued a $66.00 target price on shares of CG Oncology in a research report on Friday, December 6th. Roth Mkm initiated coverage on shares of CG Oncology in a research report on Tuesday, August 27th. They set a "buy" rating and a $65.00 price target on the stock. Finally, Bank of America reiterated a "buy" rating and issued a $65.00 price objective on shares of CG Oncology in a report on Tuesday, October 8th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $63.88.
Check Out Our Latest Stock Report on CG Oncology
About CG Oncology
(
Get Free Report)
CG Oncology, Inc, an oncolytic immunotherapy company, focuses on developing and commercializing backbone bladder-sparing therapeutics for patients with bladder cancer. The company develops BOND-003 for the treatment of high-risk bacillus calmette guerin (BCG)-unresponsive non-muscle invasive bladder cancer (NMIBC) patients; CORE-001 to treat cretostimogene in combination with pembrolizumab in high-risk BCG-unresponsive NMIBC patients; and CORE-002 for the treatment of cretostimogene in combination with the checkpoint inhibitor nivolumab in muscle invasive bladder cancer patients.
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