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

CG Oncology, Inc. (NASDAQ:CGON) saw unusually large options trading activity on Wednesday. Stock investors purchased 30,105 call options on the stock. This represents an increase of 3,313% compared to the typical volume of 882 call options.

CG Oncology Trading Down 1.9%

Shares of CGON opened at $60.37 on Friday. The company has a market cap of $5.10 billion, a price-to-earnings ratio of -29.16 and a beta of 1.18. The business’s fifty day simple moving average is $52.00 and its two-hundred day simple moving average is $43.04. CG Oncology has a 12 month low of $14.80 and a 12 month high of $63.58.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings results on Friday, February 27th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.10. The business had revenue of $2.32 million for the quarter. As a group, research analysts forecast that CG Oncology will post -1.31 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CGON. Royal Bank Of Canada boosted their price target on CG Oncology from $61.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. The Goldman Sachs Group reiterated a “buy” rating and set a $82.00 price objective on shares of CG Oncology in a research note on Monday, January 12th. HC Wainwright boosted their target price on CG Oncology from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Truist Financial raised their price target on CG Oncology from $66.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. Finally, Morgan Stanley set a $93.00 price target on CG Oncology in a research report on Friday, January 9th. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, CG Oncology currently has an average rating of “Moderate Buy” and a consensus price target of $69.00.

Insider Transactions at CG Oncology

In related news, Director James Mulay sold 11,145 shares of the business’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $52.47, for a total transaction of $584,778.15. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.40% of the stock is currently owned by company insiders.

Institutional Trading of CG Oncology

Large investors have recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. bought a new position in CG Oncology during the fourth quarter valued at approximately $27,000. Winthrop Capital Management LLC purchased a new stake in CG Oncology during the 2nd quarter valued at $38,000. Strengthening Families & Communities LLC bought a new position in shares of CG Oncology during the 3rd quarter valued at $40,000. Comerica Bank boosted its stake in shares of CG Oncology by 100.4% in the 4th quarter. Comerica Bank now owns 1,028 shares of the company’s stock worth $43,000 after buying an additional 515 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of CG Oncology by 15.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,279 shares of the company’s stock worth $85,000 after buying an additional 433 shares during the last quarter. 26.56% of the stock is currently owned by 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.