CG Oncology (NASDAQ:CGON) Trading Down 5.4% – Here’s Why

CG Oncology, Inc. (NASDAQ:CGON) shares were down 5.4% on Thursday . The stock traded as low as $65.62 and last traded at $64.02. Approximately 102,770 shares were traded during trading, a decline of 92% from the average daily volume of 1,305,594 shares. The stock had previously closed at $67.68.

Analysts Set New Price Targets

Several equities analysts have commented on CGON shares. Piper Sandler raised their target price on shares of CG Oncology from $55.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, January 16th. Truist Financial upped their price target on shares of CG Oncology from $66.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. JPMorgan Chase & Co. increased their price target on shares of CG Oncology from $65.00 to $91.00 and gave the stock an “overweight” rating in a research report on Friday. Royal Bank Of Canada lifted their price objective on shares of CG Oncology from $61.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Finally, HC Wainwright boosted their price objective on shares of CG Oncology from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, April 7th. Eleven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $79.00.

CG Oncology Stock Up 10.7%

The stock has a market cap of $6.20 billion, a price-to-earnings ratio of -35.47 and a beta of 0.70. The company has a 50 day simple moving average of $62.33 and a 200 day simple moving average of $50.45.

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

Insider Buying and Selling

In related news, Director James Mulay sold 1,964 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $63.50, for a total value of $124,714.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of CG Oncology by 11.4% in the 3rd quarter. Vanguard Group Inc. now owns 6,577,281 shares of the company’s stock valued at $264,933,000 after acquiring an additional 670,770 shares during the last quarter. Wellington Management Group LLP grew its position in CG Oncology by 8.8% during the 4th quarter. Wellington Management Group LLP now owns 5,999,790 shares of the company’s stock worth $249,111,000 after acquiring an additional 487,011 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in CG Oncology by 116.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,443,144 shares of the company’s stock worth $142,961,000 after purchasing an additional 1,854,386 shares in the last quarter. State Street Corp increased its holdings in CG Oncology by 46.4% in the 4th quarter. State Street Corp now owns 2,996,695 shares of the company’s stock worth $124,423,000 after purchasing an additional 950,028 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in CG Oncology by 15.0% in the second quarter. Alliancebernstein L.P. now owns 2,164,214 shares of the company’s stock valued at $56,270,000 after purchasing an additional 281,637 shares during the last quarter. 26.56% of the stock is currently owned by institutional investors and hedge funds.

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.