Shares of CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 466,609 shares changed hands during trading, a decline of 27% from the previous session's volume of 641,885 shares.The stock last traded at $29.75 and had previously closed at $28.87.
Analyst Upgrades and Downgrades
Several research firms have issued reports on CGON. Royal Bank of Canada reissued an "outperform" rating and issued a $66.00 price objective on shares of CG Oncology in a research report on Friday, December 6th. Roth Mkm assumed coverage on CG Oncology in a research note on Tuesday, August 27th. They issued a "buy" rating and a $65.00 price objective on the stock. Bank of America restated a "buy" rating and set a $65.00 price objective on shares of CG Oncology in a report on Tuesday, October 8th. HC Wainwright reiterated a "buy" rating and issued a $75.00 target price on shares of CG Oncology in a report on Friday, December 6th. Finally, Roth Capital upgraded CG Oncology to a "strong-buy" rating in a research note on Tuesday, August 27th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, CG Oncology currently has an average rating of "Buy" and a consensus target price of $63.88.
View Our Latest Stock Analysis on CGON
CG Oncology Stock Performance
The business has a 50 day moving average of $35.23 and a two-hundred day moving average of $34.89.
CG Oncology (NASDAQ:CGON - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.06. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. The business had revenue of $0.04 million during the quarter, compared to analyst estimates of $0.30 million. As a group, analysts anticipate that CG Oncology, Inc. will post -1.32 earnings per share for the current fiscal year.
Insider Buying and Selling at CG Oncology
In related news, Director Leonard E. Post sold 1,000 shares of the company's stock in a transaction dated 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 document filed with the SEC, which can be accessed through this link.
Institutional Investors Weigh In On CG Oncology
Several institutional investors have recently added to or reduced their stakes in CGON. Franklin Resources Inc. raised its holdings in shares of CG Oncology by 8.9% in the third quarter. Franklin Resources Inc. now owns 1,230,193 shares of the company's stock worth $46,157,000 after buying an additional 100,106 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of CG Oncology in the 3rd quarter valued at $1,120,000. Geode Capital Management LLC raised its stake in CG Oncology by 96.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,078,527 shares of the company's stock worth $40,701,000 after acquiring an additional 528,749 shares during the last quarter. M&T Bank Corp lifted its position in CG Oncology by 55.7% during the 3rd quarter. M&T Bank Corp now owns 16,758 shares of the company's stock worth $632,000 after acquiring an additional 5,996 shares during the period. Finally, Barclays PLC grew its stake in CG Oncology by 331.1% during the 3rd quarter. Barclays PLC now owns 90,520 shares of the company's stock valued at $3,416,000 after purchasing an additional 69,523 shares during the last quarter. Institutional investors and hedge funds own 26.56% of the company's stock.
About CG Oncology
(
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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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