CG Oncology (NASDAQ:CGON) Sets New 52-Week High Following Insider Buying Activity

Shares of CG Oncology, Inc. (NASDAQ:CGON) reached a new 52-week high during trading on Tuesday after an insider bought additional shares in the company. The company traded as high as $77.00 and last traded at $74.0670, with a volume of 133692 shares traded. The stock had previously closed at $73.73.

Specifically, Director Brian Guan-Chyun Liu purchased 371,085 shares of CG Oncology stock in a transaction that occurred on Thursday, June 25th. The stock was acquired at an average cost of $66.87 per share, for a total transaction of $24,814,453.95. Following the purchase, the director directly owned 1,886,236 shares of the company’s stock, valued at $126,132,601.32. This trade represents a 24.49% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. HC Wainwright reiterated a “buy” rating and set a $100.00 price objective on shares of CG Oncology in a research report on Monday, May 18th. Truist Financial reissued a “buy” rating and issued a $82.00 target price (up from $77.00) on shares of CG Oncology in a research report on Thursday, May 14th. Royal Bank Of Canada upped their price target on shares of CG Oncology from $79.00 to $81.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. raised their price target on shares of CG Oncology from $91.00 to $96.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of CG Oncology in a research note on Monday, April 20th. Eleven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, CG Oncology has an average rating of “Moderate Buy” and a consensus price target of $81.73.

CG Oncology Stock Up 1.3%

The stock has a market capitalization of $6.59 billion, a price-to-earnings ratio of -32.06 and a beta of 0.31. The business’s 50 day simple moving average is $64.55 and its 200-day simple moving average is $58.34.

CG Oncology (NASDAQ:CGON) last issued its earnings results on Friday, May 8th. The company reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.13). The firm had revenue of $1.08 million for the quarter, compared to the consensus estimate of $0.45 million. On average, analysts expect that CG Oncology, Inc. will post -2.89 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CGON. NFSG Corp acquired a new position in CG Oncology during the 1st quarter worth approximately $34,000. Comerica Bank lifted its stake in 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 purchasing an additional 515 shares during the last quarter. LPL Financial LLC boosted its position in CG Oncology by 9.8% in the fourth quarter. LPL Financial LLC now owns 6,201 shares of the company’s stock valued at $257,000 after buying an additional 551 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in CG Oncology in the fourth quarter valued at approximately $27,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of CG Oncology by 33.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,920 shares of the company’s stock worth $163,000 after buying an additional 972 shares during the last quarter. 26.56% of the stock is currently owned by institutional investors and hedge funds.

CG Oncology Company Profile

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.