Traders Purchase Large Volume of Call Options on CG Oncology (NASDAQ:CGON)

CG Oncology, Inc. (NASDAQ:CGON) was the target of unusually large options trading on Friday. Stock traders acquired 8,896 call options on the stock. This represents an increase of 262% compared to the average daily volume of 2,457 call options.

Analysts Set New Price Targets

CGON has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of CG Oncology from $91.00 to $96.00 and gave the stock an “overweight” 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 note on Monday, May 18th. Wolfe Research started coverage on CG Oncology in a research note on Tuesday, May 19th. They issued a “peer perform” rating on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of CG Oncology in a report on Monday, April 20th. Finally, Royal Bank Of Canada lifted their target price on CG Oncology from $79.00 to $81.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. 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. Based on data from MarketBeat.com, CG Oncology currently has an average rating of “Moderate Buy” and an average target price of $81.73.

Insider Activity

In other news, Director James Mulay sold 24,165 shares of the business’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $75.16, for a total transaction of $1,816,241.40. Following the completion of the sale, the director directly owned 24,165 shares of the company’s stock, valued at approximately $1,816,241.40. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian Guan-Chyun Liu purchased 371,085 shares of the business’s stock in a transaction dated Thursday, June 25th. The stock was bought at an average price of $66.87 per share, for a total transaction of $24,814,453.95. Following the completion of the acquisition, the director owned 1,886,236 shares of the company’s stock, valued at approximately $126,132,601.32. The trade was a 24.49% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders sold 37,129 shares of company stock valued at $2,663,817. 4.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CG Oncology

A number of large investors have recently bought and sold shares of CGON. Whittier Trust Co. of Nevada Inc. bought a new stake in CG Oncology during the 4th quarter valued at $27,000. NFSG Corp purchased a new position in shares of CG Oncology in the 1st quarter valued at $34,000. Comerica Bank raised its position 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 acquiring an additional 515 shares in the last quarter. Fifth Third Bancorp bought a new position in shares of CG Oncology in the 1st quarter worth $74,000. Finally, KBC Group NV purchased a new stake in shares of CG Oncology during the 1st quarter worth $78,000. Institutional investors own 26.56% of the company’s stock.

CG Oncology Price Performance

Shares of CG Oncology stock opened at $71.85 on Friday. CG Oncology has a 1 year low of $23.65 and a 1 year high of $77.00. The firm’s 50-day moving average is $65.27 and its two-hundred day moving average is $61.29. The stock has a market cap of $6.34 billion, a price-to-earnings ratio of -30.84 and a beta of 0.22.

CG Oncology (NASDAQ:CGON) last posted its quarterly earnings results on Friday, May 8th. The company reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.13). The firm had revenue of $1.08 million for the quarter, compared to analyst estimates of $0.45 million. On average, equities analysts expect that CG Oncology will post -2.89 earnings per share for the current year.

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.