Insider Buying: CG Oncology (NASDAQ:CGON) Director Acquires $24,814,453.95 in Stock

CG Oncology, Inc. (NASDAQ:CGON) Director Brian Guan-Chyun Liu bought 371,085 shares of the stock in a transaction that occurred on Thursday, June 25th. The shares were bought at an average price of $66.87 per share, for a total transaction of $24,814,453.95. Following the completion of the transaction, the director directly owned 1,886,236 shares of the company’s stock, valued at $126,132,601.32. This represents a 24.49% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

CG Oncology Stock Down 0.2%

NASDAQ CGON opened at $70.89 on Thursday. The stock’s 50-day moving average price is $64.51 and its 200-day moving average price is $58.75. CG Oncology, Inc. has a 52 week low of $23.65 and a 52 week high of $77.00. The company has a market capitalization of $6.25 billion, a P/E ratio of -30.42 and a beta of 0.21.

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CGON shares. Truist Financial reiterated a “buy” rating and issued a $82.00 price target (up from $77.00) on shares of CG Oncology in a research report on Thursday, May 14th. Royal Bank Of Canada lifted their target price 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. Wolfe Research started coverage on shares of CG Oncology in a report on Tuesday, May 19th. They issued a “peer perform” rating for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of CG Oncology in a research note on Monday, April 20th. Finally, Wall Street Zen cut CG Oncology from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, CG Oncology presently has a consensus rating of “Moderate Buy” and an average target price of $81.73.

Hedge Funds Weigh In On CG Oncology

Institutional investors have recently bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. purchased a new stake in CG Oncology in the 4th quarter worth $27,000. NFSG Corp purchased a new position in shares of CG Oncology during the first quarter valued at about $34,000. Comerica Bank increased its holdings in shares of CG Oncology by 100.4% in 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. Fifth Third Bancorp bought a new stake in shares of CG Oncology in the first quarter worth about $74,000. Finally, KBC Group NV purchased a new stake in shares of CG Oncology in the first quarter worth about $78,000. 26.56% of the stock is owned by hedge funds and other institutional investors.

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.