CG Oncology (NASDAQ:CGON) Sets New 52-Week Low - Here's What Happened

CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) shares hit a new 52-week low during trading on Monday . The stock traded as low as $15.71 and last traded at $15.93, with a volume of 60182 shares traded. The stock had previously closed at $17.20.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. HC Wainwright reiterated a "buy" rating and issued a $75.00 price target on shares of CG Oncology in a research note on Monday, March 31st. Morgan Stanley reaffirmed an "overweight" rating and issued a $55.00 price objective on shares of CG Oncology in a report on Friday, March 7th. Finally, TD Cowen assumed coverage on CG Oncology in a report on Tuesday, January 7th. They set a "buy" rating on the stock. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, CG Oncology has an average rating of "Buy" and a consensus price target of $63.88.

CG Oncology Stock Up 9.4 %

The firm has a 50 day simple moving average of $25.19 and a two-hundred day simple moving average of $30.35. The stock has a market capitalization of $1.47 billion, a P/E ratio of -13.58 and a beta of 1.24.

CG Oncology (NASDAQ:CGON - Get Free Report) last announced its quarterly earnings data on Tuesday, March 25th. The company reported ($0.48) earnings per share 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 business had revenue of $0.46 million for the quarter, compared to the consensus estimate of $0.11 million. On average, research analysts predict that CG Oncology, Inc. will post -1.31 earnings per share for the current year.

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Insider Activity

In other news, Director Leonard E. Post sold 1,000 shares of the company's stock in a transaction on Monday, January 13th. The shares were sold at an average price of $29.66, for a total transaction of $29,660.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Investors Weigh In On CG Oncology

Hedge funds have recently modified their holdings of the company. GF Fund Management CO. LTD. bought a new position in CG Oncology in the fourth quarter valued at about $41,000. GAMMA Investing LLC increased its stake in shares of CG Oncology by 1,051.0% in the first quarter. GAMMA Investing LLC now owns 2,302 shares of the company's stock valued at $56,000 after buying an additional 2,102 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of CG Oncology in the fourth quarter valued at approximately $68,000. KLP Kapitalforvaltning AS bought a new position in CG Oncology in the 4th quarter valued at approximately $100,000. Finally, Federated Hermes Inc. acquired a new stake in CG Oncology during the 4th quarter worth approximately $172,000. Institutional investors and hedge funds own 26.56% of the company's stock.

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.