CG Oncology (NASDAQ:CGON) Trading Down 2.6%

CG Oncology, Inc. (NASDAQ:CGON)’s share price was down 2.6% during trading on Wednesday . The stock traded as low as $30.31 and last traded at $30.51. Approximately 30,764 shares changed hands during trading, a decline of 95% from the average daily volume of 666,971 shares. The stock had previously closed at $31.32.

Analysts Set New Price Targets

Several equities analysts have commented on CGON shares. HC Wainwright reissued a “buy” rating and set a $75.00 target price on shares of CG Oncology in a research note on Tuesday, May 28th. Cantor Fitzgerald restated an “overweight” rating and set a $75.00 price objective on shares of CG Oncology in a research report on Thursday, May 2nd. Bank of America initiated coverage on shares of CG Oncology in a research report on Friday, June 28th. They set a “buy” rating and a $65.00 price objective for the company. Finally, The Goldman Sachs Group upgraded shares of CG Oncology from a “neutral” rating to a “buy” rating and raised their price objective for the company from $43.00 to $50.00 in a research report on Monday, May 13th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $64.00.

CG Oncology Trading Down 1.6 %

The company has a fifty day moving average price of $33.15.

CG Oncology (NASDAQ:CGON) last announced its earnings results on Thursday, May 9th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.01). The business had revenue of $0.53 million for the quarter. On average, equities research analysts expect that CG Oncology, Inc. will post -1.64 EPS for the current fiscal year.

Institutional Trading of CG Oncology

A number of hedge funds have recently made changes to their positions in CGON. Decheng Capital LLC purchased a new stake in shares of CG Oncology in the first quarter worth approximately $239,642,000. Vanguard Group Inc. purchased a new stake in shares of CG Oncology in the first quarter worth approximately $97,678,000. BVF Inc. IL purchased a new stake in shares of CG Oncology in the first quarter worth approximately $82,716,000. Janus Henderson Group PLC purchased a new stake in shares of CG Oncology in the first quarter worth approximately $66,757,000. Finally, RA Capital Management L.P. purchased a new stake in shares of CG Oncology in the first quarter worth approximately $61,347,000. 26.56% of the stock is owned by hedge funds and other institutional investors.

About CG Oncology

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.