CG Oncology, Inc. (NASDAQ:CGON – Get Free Report)’s share price traded down 2.6% on Wednesday . The company traded as low as $30.31 and last traded at $30.51. 30,764 shares were traded during mid-day trading, a decline of 95% from the average session volume of 666,971 shares. The stock had previously closed at $31.32.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $75.00 price objective on shares of CG Oncology in a research report on Tuesday, May 28th. Bank of America assumed coverage on shares of CG Oncology in a research report on Friday, June 28th. They issued a “buy” rating and a $65.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $75.00 price objective on shares of CG Oncology in a research report on Thursday, May 2nd. Finally, The Goldman Sachs Group raised shares of CG Oncology from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $43.00 to $50.00 in a research note on Monday, May 13th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $64.00.
Read Our Latest Analysis on CG Oncology
CG Oncology Trading Down 1.6 %
CG Oncology (NASDAQ:CGON – Get Free Report) last posted its earnings results on Thursday, May 9th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.01). The company had revenue of $0.53 million for the quarter. On average, analysts predict that CG Oncology, Inc. will post -1.64 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the stock. Ameritas Investment Partners Inc. purchased a new position in CG Oncology during the 1st quarter worth $102,000. California State Teachers Retirement System purchased a new position in CG Oncology during the 1st quarter worth $103,000. BNP Paribas Financial Markets purchased a new position in CG Oncology during the 1st quarter worth $492,000. Capstone Investment Advisors LLC purchased a new position in CG Oncology during the 1st quarter worth $806,000. Finally, Blackstone Inc. purchased a new position in CG Oncology during the 1st quarter worth $1,098,000. 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.
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