CG Oncology (NASDAQ:CGON) Hits New 1-Year Low - What's Next?

CG Oncology, Inc. (NASDAQ:CGON - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $23.91 and last traded at $24.14, with a volume of 193053 shares traded. The stock had previously closed at $25.10.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CGON. Royal Bank of Canada reiterated an "outperform" rating and set a $66.00 price objective on shares of CG Oncology in a research note on Friday, December 6th. HC Wainwright reissued a "buy" rating and issued a $75.00 target price on shares of CG Oncology in a research report on Friday, January 10th. Morgan Stanley reissued an "overweight" rating and issued a $55.00 target price on shares of CG Oncology in a research report on Friday. Finally, TD Cowen began coverage on shares of CG Oncology in a research report on Tuesday, January 7th. They issued a "buy" rating for the company. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $63.88.

CG Oncology Price Performance

The company's fifty day moving average price is $28.67 and its 200 day moving average price is $32.93.

Insider Activity

In other CG Oncology news, Director Hong Fang Song sold 700,000 shares of the business's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $28.00, for a total transaction of $19,600,000.00. Following the completion of the transaction, the director now directly owns 3,003,931 shares of the company's stock, valued at $84,110,068. The trade was a 18.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Leonard E. Post sold 1,000 shares of the company's stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $29.66, for a total transaction of $29,660.00. The disclosure for this sale can be found here.

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Institutional Trading of CG Oncology

Institutional investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. acquired a new stake in shares of CG Oncology in the 4th quarter worth approximately $41,000. Amalgamated Bank lifted its stake in shares of CG Oncology by 107.6% in the 3rd quarter. Amalgamated Bank now owns 1,621 shares of the company's stock worth $61,000 after acquiring an additional 840 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of CG Oncology in the 4th quarter worth approximately $68,000. KLP Kapitalforvaltning AS acquired a new stake in shares of CG Oncology in the 4th quarter worth approximately $100,000. Finally, Federated Hermes Inc. acquired a new stake in shares of CG Oncology in the 4th quarter worth approximately $172,000. 26.56% of the stock is owned by institutional investors and hedge funds.

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.