CG Oncology (NASDAQ:CGON) Trading Up 4.6%

CG Oncology, Inc. (NASDAQ:CGON)’s share price rose 4.6% 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

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

CG Oncology Price Performance

The company 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 (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.14. The business had revenue of $0.11 million during the quarter. As a group, equities analysts expect that CG Oncology, Inc. will post -1.47 EPS for the current year.

Insider Activity

In other news, Director Hong Fang Song sold 650,455 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $35.36, for a total value of $23,000,088.80. Following the completion of the sale, the director now owns 586,982 shares of the company’s stock, valued at approximately $20,755,683.52. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CGON. Ameritas Investment Partners Inc. bought a new stake in CG Oncology in the 1st quarter worth $102,000. California State Teachers Retirement System purchased a new position in CG Oncology during the 1st quarter valued at about $103,000. Profund Advisors LLC bought a new position in CG Oncology during the 2nd quarter valued at approximately $300,000. BNP Paribas Financial Markets bought a new stake in shares of CG Oncology in the 1st quarter worth approximately $492,000. Finally, Capstone Investment Advisors LLC purchased a new position in shares of CG Oncology during the first quarter valued at approximately $806,000. 26.56% of the stock is owned by hedge funds and other institutional investors.

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.