Hong Fang Song Sells 650,455 Shares of CG Oncology, Inc. (NASDAQ:CGON) Stock

CG Oncology, Inc. (NASDAQ:CGON) Director Hong Fang Song sold 650,455 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $35.36, for a total value of $23,000,088.80. Following the completion of the sale, the director now directly owns 586,982 shares in the company, valued at $20,755,683.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

CG Oncology Trading Up 0.5 %

Shares of NASDAQ:CGON opened at $36.88 on Friday. The firm’s 50 day moving average price is $33.78 and its 200-day moving average price is $36.18. CG Oncology, Inc. has a twelve month low of $25.77 and a twelve month high of $50.23.

CG Oncology (NASDAQ:CGON) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.14. The business had revenue of $0.11 million during the quarter. As a group, analysts predict that CG Oncology, Inc. will post -1.64 EPS for the current fiscal year.

Hedge Funds Weigh In On CG Oncology

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets bought a new position in shares of CG Oncology in the first quarter worth approximately $492,000. Capstone Investment Advisors LLC purchased a new position in shares of CG Oncology in the first quarter valued at about $806,000. TimesSquare Capital Management LLC bought a new position in shares of CG Oncology in the first quarter worth about $9,837,000. Vanguard Group Inc. purchased a new stake in shares of CG Oncology during the first quarter worth about $97,678,000. Finally, Ameritas Investment Partners Inc. bought a new stake in CG Oncology during the 1st quarter valued at approximately $102,000. 26.56% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Roth Mkm initiated coverage on CG Oncology in a research note on Tuesday, August 27th. They issued a “buy” rating and a $65.00 price target for the company. The Goldman Sachs Group raised CG Oncology from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $43.00 to $50.00 in a research report on Monday, May 13th. Bank of America began coverage on shares of CG Oncology in a report on Friday, June 28th. They set a “buy” rating and a $65.00 price target on the stock. HC Wainwright reissued a “buy” rating and set a $75.00 price objective on shares of CG Oncology in a report on Tuesday, May 28th. Finally, Roth Capital upgraded shares of CG Oncology to a “strong-buy” rating in a report on Tuesday, August 27th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $64.17.

About CG Oncology

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.