By otakuyassine3@gmail.com 
CG Oncology, Inc. (NASDAQ:CGON – Get Free Report) was down 6.9% during mid-day trading on Monday . The company traded as low as $27.84 and last traded at $27.98. Approximately 108,925 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 670,307 shares. The stock had previously closed at $30.04.
Analysts Set New Price Targets
Several analysts have recently commented on the stock. Bank of America restated a “buy” rating and set a $65.00 price objective on shares of CG Oncology in a research report on Tuesday, October 8th. HC Wainwright reissued a “buy” rating and set a $75.00 price target on shares of CG Oncology in a report on Friday, December 6th. UBS Group started coverage on CG Oncology in a research note on Thursday, October 24th. They issued a “buy” rating and a $60.00 price objective for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $66.00 target price on shares of CG Oncology in a research report on Friday, December 6th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $63.88.
Get Our Latest Stock Report on CGON
CG Oncology Trading Up 0.6 %
The stock has a 50-day moving average price of $33.44 and a two-hundred day moving average price of $34.39.
CG Oncology (NASDAQ:CGON – Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.06. CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. The company had revenue of $0.04 million during the quarter, compared to analyst estimates of $0.30 million. As a group, sell-side analysts forecast that CG Oncology, Inc. will post -1.32 EPS for the current year.
Insider Activity at CG Oncology
In related news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $34.54, for a total value of $34,540.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Hong Fang Song sold 700,000 shares of CG Oncology stock in a transaction dated 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 transaction, the director now owns 3,003,931 shares of the company’s stock, valued at approximately $84,110,068. This represents a 18.90 % decrease in their position. The disclosure for this sale can be found here.
Institutional Investors Weigh In On CG Oncology
Several institutional investors have recently made changes to their positions in CGON. Yu Fan bought a new position in CG Oncology during the 2nd quarter valued at about $49,828,000. State Street Corp boosted its position in shares of CG Oncology by 73.0% during the third quarter. State Street Corp now owns 1,700,653 shares of the company’s stock valued at $64,166,000 after buying an additional 717,722 shares during the period. Point72 Asset Management L.P. grew its stake in shares of CG Oncology by 575.7% during the third quarter. Point72 Asset Management L.P. now owns 746,063 shares of the company’s stock valued at $28,149,000 after buying an additional 635,653 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of CG Oncology by 96.2% in the third 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. Finally, Deerfield Management Company L.P. Series C lifted its stake in shares of CG Oncology by 811.9% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 433,540 shares of the company’s stock worth $13,687,000 after acquiring an additional 386,000 shares during the last quarter. Institutional investors own 26.56% of the company’s stock.
CG Oncology Company Profile
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.
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