Leonard E. Post, a director at CG Oncology, Inc. (NASDAQ:CGON), recently sold shares of the company in a transaction valued at $29,660, according to a recent SEC filing. The sale involved 1,000 shares at a price of $29.66 per share, coming at a time when the stock has experienced a 7.5% decline over the past week. According to InvestingPro data, analysts maintain a positive outlook with price targets ranging from $55 to $83. This transaction was carried out under a Rule 10b5-1 trading plan, which Post adopted on September 6, 2024.
In addition to the sale, Post also exercised stock options to acquire 1,000 shares of common stock at a price of $0.60 per share, totaling $600. Following these transactions, Post currently holds 132,077 shares in CG Oncology.
In other recent news, CG Oncology has amended executive compensation agreements and received a Buy rating from several analyst firms. The biotechnology firm has revised employment agreements with key executives, outlining revised severance benefits and equity vesting conditions. These amendments affect the CEO, President/COO, Chief Medical (TASE:PMCN) Officer, Chief Financial Officer, and Chief Compliance Officer. Additionally, the company has received a Buy rating from TD Cowen, UBS, Goldman Sachs, H.C. Wainwright, and Roth/MKM, with projected revenue of $2.5 billion by 2035 for their product, Creto.
Furthermore, CG Oncology's Phase 3 BOND-003 study reported a 74.5% overall complete response rate, indicating potential for sustained efficacy. The company's stock has been initiated with a Buy rating by TD Cowen, and maintained by H.C. Wainwright, based on the positive results from the BOND-003 study and the potential of Creto. UBS has initiated coverage on CG Oncology with a Buy rating, projecting a peak sales opportunity of $1.9 billion for Creto.
In addition, Goldman Sachs has reaffirmed its Buy rating on CG Oncology, emphasizing the potential of Creto in treating non-muscle invasive bladder cancer. These recent developments highlight the ongoing interest in CG Oncology's work in the oncology space. The company plans for a Biologics License Application submission in 2025.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.