CG Oncology (NASDAQ:CGON) Trading 4.6% Higher

CG Oncology, Inc. (NASDAQ:CGON)’s stock price was up 4.6% during trading on Monday . The stock traded as high as $36.44 and last traded at $36.39. Approximately 125,690 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 635,088 shares. The stock had previously closed at $34.80.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CGON. Bank of America initiated coverage on CG Oncology in a research note on Friday, June 28th. They issued a “buy” rating and a $65.00 target price on the stock. HC Wainwright reissued a “buy” rating and issued a $75.00 price objective on shares of CG Oncology in a research report on Tuesday. Roth Capital raised CG Oncology to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, Roth Mkm began coverage on shares of CG Oncology in a report on Tuesday, August 27th. They issued a “buy” rating and a $65.00 price target on the stock. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, CG Oncology currently has an average rating of “Buy” and a consensus target price of $64.17.

CG Oncology Price Performance

The stock has a 50-day simple moving average of $35.04 and a 200-day simple moving average of $35.36.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.14. The firm had revenue of $0.11 million during the quarter. As a group, equities analysts predict that CG Oncology, Inc. will post -1.47 EPS for the current fiscal year.

Insider Activity

In related news, Director Hong Fang Song sold 650,455 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $35.36, for a total value of $23,000,088.80. Following the completion of the transaction, the director now directly owns 586,982 shares of the company’s stock, valued at approximately $20,755,683.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Institutional Investors Weigh In On CG Oncology

Several institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. purchased a new stake in CG Oncology during the 1st quarter worth about $102,000. California State Teachers Retirement System bought a new stake in shares of CG Oncology during the first quarter valued at about $103,000. Rhumbline Advisers lifted its holdings in shares of CG Oncology by 13.0% in the second quarter. Rhumbline Advisers now owns 34,229 shares of the company’s stock worth $1,081,000 after buying an additional 3,940 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of CG Oncology by 2.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 266,787 shares of the company’s stock valued at $8,422,000 after acquiring an additional 6,899 shares during the period. Finally, Profund Advisors LLC purchased a new position in CG Oncology during the second quarter valued at approximately $300,000. Hedge funds and other 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.