CG Oncology, Inc. (NASDAQ:CGON) Short Interest Down 5.3% in December

CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) was the recipient of a large decrease in short interest in December. As of December 15th, there was short interest totalling 4,990,000 shares, a decrease of 5.3% from the November 30th total of 5,270,000 shares. Currently, 11.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 590,900 shares, the short-interest ratio is presently 8.4 days.

CG Oncology Price Performance

Shares of CGON traded up $0.18 during mid-day trading on Wednesday, reaching $28.68. The company's stock had a trading volume of 524,659 shares, compared to its average volume of 671,502. CG Oncology has a 1 year low of $25.77 and a 1 year high of $50.23. The business has a fifty day moving average of $33.30 and a 200 day moving average of $34.35.

CG Oncology (NASDAQ:CGON - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, topping analysts' consensus estimates of ($0.36) by $0.06. The firm had revenue of $0.04 million during the quarter, compared to analyst estimates of $0.30 million. CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. Equities analysts forecast that CG Oncology will post -1.32 EPS for the current fiscal year.

Insider Buying and Selling at CG Oncology

In other news, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction on Friday, December 6th. The stock was sold at an average price of $34.54, for a total transaction of $34,540.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Hong Fang Song sold 700,000 shares of the company's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $28.00, for a total value of $19,600,000.00. Following the completion of the sale, the director now owns 3,003,931 shares of the company's stock, valued at approximately $84,110,068. This trade represents a 18.90 % decrease in their position. The disclosure for this sale can be found here.

Institutional Trading of CG Oncology

Several institutional investors have recently made changes to their positions in CGON. JPMorgan Chase & Co. grew its stake in CG Oncology by 59.1% in the third quarter. JPMorgan Chase & Co. now owns 31,071 shares of the company's stock valued at $1,172,000 after purchasing an additional 11,542 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of CG Oncology by 8.9% during the 3rd quarter. Franklin Resources Inc. now owns 1,230,193 shares of the company's stock valued at $46,157,000 after buying an additional 100,106 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of CG Oncology in the 3rd quarter valued at approximately $1,120,000. Geode Capital Management LLC increased its holdings in CG Oncology by 96.2% in the third quarter. Geode Capital Management LLC now owns 1,078,527 shares of the company's stock worth $40,701,000 after buying an additional 528,749 shares during the last quarter. Finally, M&T Bank Corp raised its position in CG Oncology by 55.7% during the third quarter. M&T Bank Corp now owns 16,758 shares of the company's stock valued at $632,000 after acquiring an additional 5,996 shares in the last quarter. 26.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CGON. Royal Bank of Canada reiterated an "outperform" rating and issued a $66.00 target price on shares of CG Oncology in a report on Friday, December 6th. Bank of America restated a "buy" rating and issued a $65.00 price target on shares of CG Oncology in a research report on Tuesday, October 8th. HC Wainwright reiterated a "buy" rating and set a $75.00 price objective on shares of CG Oncology in a research report on Friday, December 6th. Finally, UBS Group began coverage on CG Oncology in a research note on Thursday, October 24th. They set a "buy" rating and a $60.00 price objective for the company. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $63.88.

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.