CG Oncology, Inc. (NASDAQ:CGON – Get Free Report)’s stock price traded up 5.9% during trading on Friday. The stock traded as high as $74.19 and last traded at $74.2930. Approximately 771,212 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 1,092,134 shares. The stock had previously closed at $70.15.
Analyst Ratings Changes
Several analysts have recently commented on CGON shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CG Oncology in a research report on Thursday, October 15th. Piper Sandler increased their price objective on CG Oncology from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Truist Financial raised their price objective on CG Oncology from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Guggenheim lowered their target price on CG Oncology from $90.00 to $89.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Wall Street Zen upgraded CG Oncology from a “strong sell” rating to a “sell” rating in a report on Saturday, November 7th. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.11.
Read Our Latest Analysis on CGON
CG Oncology Stock Performance
The company has a market cap of $6.60 billion, a P/E ratio of -26.76 and a beta of 0.35. The firm has a 50 day moving average price of $68.04 and a 200-day moving average price of $66.44.
CG Oncology (NASDAQ:CGON – Get Free Report) last posted its quarterly earnings data on Friday, November 6th. The company reported ($0.64) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.83) by $0.19. The business had revenue of $1.60 million during the quarter, compared to the consensus estimate of $0.55 million. CG Oncology had a negative net margin of 3,851.09% and a negative return on equity of 24.58%. On average, sell-side analysts forecast that CG Oncology, Inc. will post -3.00 EPS for the current fiscal year.
Insider Buying and Selling
In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $62.06, for a total transaction of $62,060.00. Following the sale, the director owned 1,000 shares in the company, valued at $62,060. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.80% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP boosted its position in CG Oncology by 17.0% in the third quarter. First Trust Advisors LP now owns 273,284 shares of the company’s stock valued at $19,373,000 after buying an additional 39,767 shares in the last quarter. Public Sector Pension Investment Board acquired a new stake in shares of CG Oncology during the third quarter worth approximately $12,902,000. Fisher Asset Management LLC increased its holdings in shares of CG Oncology by 4.4% during the third quarter. Fisher Asset Management LLC now owns 476,917 shares of the company’s stock worth $33,809,000 after buying an additional 19,939 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of CG Oncology by 48.6% during the third quarter. Russell Investments Group Ltd. now owns 248,725 shares of the company’s stock worth $17,597,000 after buying an additional 81,296 shares in the last quarter. Finally, Jefferies Financial Group Inc. raised its stake in shares of CG Oncology by 8.5% in the third quarter. Jefferies Financial Group Inc. now owns 835,342 shares of the company’s stock valued at $59,217,000 after acquiring an additional 65,395 shares during the last quarter. 26.56% of the stock is owned by institutional investors.
CG Oncology Company Profile
CG Oncology is a clinical-stage biotechnology company focused on developing treatments for bladder cancer. Based in Irvine, California, the company’s research centers on therapies delivered directly into the bladder. Its lead investigational therapy, cretostimogene grenadenorepvec (formerly CG0070), is an oncolytic immunotherapy being developed for non-muscle-invasive bladder cancer, including disease that has not responded to Bacillus Calmette-Guérin (BCG) treatment. The modified virus is designed to target cancer cells and stimulate an immune response.
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