Investors Buy High Volume of Call Options on CG Oncology (NASDAQ:CGON)

CG Oncology, Inc. (NASDAQ:CGON) was the target of unusually large options trading on Monday. Traders bought 18,243 call options on the company. This represents an increase of approximately 574% compared to the typical volume of 2,705 call options.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CGON shares. Royal Bank Of Canada lifted their price objective on shares of CG Oncology from $79.00 to $81.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. HC Wainwright reissued a “buy” rating and issued a $100.00 price objective on shares of CG Oncology in a research report on Monday, May 18th. Wedbush lifted their target price on shares of CG Oncology from $77.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Wall Street Zen lowered shares of CG Oncology from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. Finally, Truist Financial reissued a “buy” rating and issued a $82.00 price target (up from $77.00) on shares of CG Oncology in a report on Thursday, May 14th. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, CG Oncology presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.73.

Insider Transactions at CG Oncology

In other news, Director Leonard E. Post sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $70.00, for a total value of $350,000.00. Following the completion of the sale, the director directly owned 5,000 shares of the company’s stock, valued at $350,000. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director James Mulay sold 15,600 shares of CG Oncology stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $73.01, for a total value of $1,138,956.00. Following the transaction, the director owned 15,600 shares of the company’s stock, valued at $1,138,956. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 28,564 shares of company stock valued at $1,986,532 in the last quarter. 4.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CG Oncology

A number of institutional investors have recently added to or reduced their stakes in CGON. NFSG Corp bought a new position in CG Oncology in the 1st quarter valued at approximately $34,000. Comerica Bank raised its position in CG Oncology by 100.4% during the 4th 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 raised 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 acquiring an additional 551 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of CG Oncology in the 4th quarter worth approximately $27,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in 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 valued at $163,000 after acquiring an additional 972 shares during the last quarter. 26.56% of the stock is currently owned by institutional investors and hedge funds.

CG Oncology Stock Performance

Shares of NASDAQ CGON traded up $1.28 during midday trading on Monday, reaching $73.24. The company’s stock had a trading volume of 579,246 shares, compared to its average volume of 1,208,684. The company has a market cap of $6.46 billion, a P/E ratio of -31.43 and a beta of 0.31. CG Oncology has a fifty-two week low of $23.65 and a fifty-two week high of $75.50. The business’s 50 day moving average price is $64.40 and its two-hundred day moving average price is $58.11.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings results on Friday, May 8th. The company reported ($0.71) 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. Sell-side analysts forecast that CG Oncology will post -2.89 earnings per share 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.