Hong Fang Song Sells 700,000 Shares of CG Oncology, Inc. (NASDAQ:CGON) Stock

CG Oncology, Inc. (NASDAQ:CGON) Director Hong Fang Song sold 700,000 shares of the stock in a transaction that occurred on 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website.

CG Oncology Stock Performance

Shares of CGON stock traded up $0.06 on Tuesday, hitting $29.27. The company had a trading volume of 1,745,797 shares, compared to its average volume of 661,869. CG Oncology, Inc. has a twelve month low of $25.77 and a twelve month high of $50.23. The company has a 50-day moving average price of $35.10 and a 200-day moving average price of $34.88.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.06. The company had revenue of $0.04 million during the quarter, compared to the consensus estimate of $0.30 million. CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. On average, equities analysts expect that CG Oncology, Inc. will post -1.32 EPS for the current year.

Institutional Trading of CG Oncology

A number of hedge funds have recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of CG Oncology by 73.0% in the third quarter. State Street Corp now owns 1,700,653 shares of the company’s stock worth $64,166,000 after acquiring an additional 717,722 shares during the period. Yu Fan purchased a new position in CG Oncology during the second quarter worth approximately $49,828,000. Janus Henderson Group PLC grew its holdings in CG Oncology by 7.0% in the third quarter. Janus Henderson Group PLC now owns 1,526,534 shares of the company’s stock valued at $57,596,000 after purchasing an additional 99,517 shares during the period. Franklin Resources Inc. increased its position in shares of CG Oncology by 8.9% in the third quarter. Franklin Resources Inc. now owns 1,230,193 shares of the company’s stock valued at $46,157,000 after buying an additional 100,106 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of CG Oncology by 96.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,078,527 shares of the company’s stock worth $40,701,000 after buying an additional 528,749 shares during the period. 26.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CGON has been the topic of a number of recent analyst reports. UBS Group assumed coverage on CG Oncology in a research note on Thursday, October 24th. They issued a “buy” rating and a $60.00 target price on the stock. Roth Capital upgraded shares of CG Oncology to a “strong-buy” rating in a report on Tuesday, August 27th. Bank of America restated a “buy” rating and issued a $65.00 target price on shares of CG Oncology in a research note on Tuesday, October 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $66.00 price target on shares of CG Oncology in a research note on Friday, December 6th. Finally, HC Wainwright reiterated a “buy” rating and set a $75.00 price objective on shares of CG Oncology in a research note on Friday, December 6th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $63.88.

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.