CG Oncology (NASDAQ:CGON) Reaches New 1-Year Low - Time to Sell?

Shares of CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) reached a new 52-week low during trading on Tuesday . The stock traded as low as $23.16 and last traded at $23.43, with a volume of 213578 shares changing hands. The stock had previously closed at $24.49.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Royal Bank of Canada reissued an "outperform" rating and set a $66.00 price objective on shares of CG Oncology in a research report on Friday, December 6th. TD Cowen assumed coverage on CG Oncology in a research report on Tuesday, January 7th. They issued a "buy" rating on the stock. HC Wainwright reaffirmed a "buy" rating and set a $75.00 price objective on shares of CG Oncology in a research report on Monday. Finally, Morgan Stanley reissued an "overweight" rating and issued a $55.00 target price on shares of CG Oncology in a report on Friday, March 7th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $63.88.

CG Oncology Stock Performance

The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -12.11 and a beta of 1.24. The firm has a fifty day moving average price of $26.99 and a 200 day moving average price of $31.34.

CG Oncology (NASDAQ:CGON - Get Free Report) last issued its earnings results on Tuesday, March 25th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.11). CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. The company had revenue of $0.46 million for the quarter, compared to analysts' expectations of $0.11 million. Research analysts predict that CG Oncology, Inc. will post -1.31 earnings per share for the current fiscal year.

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Insider Transactions at CG Oncology

In related news, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction on Monday, January 13th. The stock was sold at an average price of $29.66, for a total transaction of $29,660.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Trading of CG Oncology

Several large investors have recently bought and sold shares of the company. NEOS Investment Management LLC boosted its position in shares of CG Oncology by 10.9% in the 4th quarter. NEOS Investment Management LLC now owns 8,329 shares of the company's stock worth $239,000 after buying an additional 817 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of CG Oncology by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,080 shares of the company's stock valued at $862,000 after purchasing an additional 1,026 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of CG Oncology in the fourth quarter valued at about $41,000. Rhumbline Advisers grew its position in shares of CG Oncology by 2.2% in the fourth quarter. Rhumbline Advisers now owns 69,016 shares of the company's stock valued at $1,979,000 after purchasing an additional 1,458 shares during the last quarter. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of CG Oncology by 16.4% during the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,834 shares of the company's stock worth $368,000 after purchasing an additional 1,810 shares in the last quarter. 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.