CG Oncology (NASDAQ:CGON) Trading Down 0.9%

CG Oncology, Inc. (NASDAQ:CGON)’s stock price was down 0.9% during mid-day trading on Thursday . The company traded as low as $29.26 and last traded at $30.25. Approximately 408,077 shares were traded during mid-day trading, a decline of 39% from the average daily volume of 672,452 shares. The stock had previously closed at $30.52.

Analysts Set New Price Targets

A number of analysts recently issued reports on CGON shares. The Goldman Sachs Group raised CG Oncology from a “neutral” rating to a “buy” rating and lifted their target price for the company from $43.00 to $50.00 in a research report on Monday, May 13th. HC Wainwright reissued a “buy” rating and set a $75.00 price target on shares of CG Oncology in a research report on Tuesday, May 28th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $75.00 price target on shares of CG Oncology in a research report on Thursday, May 2nd.

CG Oncology Price Performance

The stock has a 50-day moving average of $33.57.

CG Oncology (NASDAQ:CGON) last posted 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 firm had revenue of $0.53 million during the quarter. As a group, equities research analysts anticipate that CG Oncology, Inc. will post -1.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CG Oncology

Several institutional investors and hedge funds have recently made changes to their positions in the company. Decheng Capital LLC bought a new stake in shares of CG Oncology in the first quarter valued at approximately $239,642,000. Vanguard Group Inc. bought a new stake in shares of CG Oncology in the first quarter valued at approximately $97,678,000. BVF Inc. IL bought a new stake in shares of CG Oncology in the first quarter valued at approximately $82,716,000. Janus Henderson Group PLC bought a new stake in shares of CG Oncology in the first quarter valued at approximately $66,757,000. Finally, RA Capital Management L.P. bought a new stake in shares of CG Oncology in the first quarter valued at approximately $61,347,000. Institutional investors and hedge funds 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.