CG Oncology (NASDAQ:CGON) Trading Up 7.3% - Time to Buy?

CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) shares traded up 7.3% on Friday . The stock traded as high as $26.68 and last traded at $27.85. 27,636 shares traded hands during trading, a decline of 95% from the average session volume of 581,442 shares. The stock had previously closed at $25.95.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. HC Wainwright reissued a "buy" rating and set a $75.00 price objective on shares of CG Oncology in a report on Friday, January 10th. Morgan Stanley reissued an "overweight" rating and set a $55.00 price objective on shares of CG Oncology in a report on Friday, March 7th. Royal Bank of Canada reissued an "outperform" rating and set a $66.00 price objective on shares of CG Oncology in a report on Friday, December 6th. Finally, TD Cowen assumed coverage on shares of CG Oncology in a report on Tuesday, January 7th. They set a "buy" rating for the company. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $63.88.

CG Oncology Trading Down 0.7 %

The stock's fifty day simple moving average is $28.25 and its 200 day simple moving average is $32.33.

Insiders Place Their Bets

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the company's stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $29.66, for a total value of $29,660.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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Hedge Funds Weigh In On CG Oncology

A number of hedge funds have recently modified their holdings of the company. NEOS Investment Management LLC boosted its position in shares of CG Oncology by 10.9% during the fourth quarter. NEOS Investment Management LLC now owns 8,329 shares of the company's stock worth $239,000 after acquiring an additional 817 shares during the last quarter. Amalgamated Bank boosted its position in shares of CG Oncology by 107.6% during the third quarter. Amalgamated Bank now owns 1,621 shares of the company's stock worth $61,000 after acquiring an additional 840 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of CG Oncology by 3.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,080 shares of the company's stock worth $862,000 after acquiring an additional 1,026 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in shares of CG Oncology during the fourth quarter worth $41,000. Finally, Rhumbline Advisers boosted its position in shares of CG Oncology by 2.2% during the fourth quarter. Rhumbline Advisers now owns 69,016 shares of the company's stock worth $1,979,000 after acquiring an additional 1,458 shares during the last quarter. 26.56% of the stock is currently owned by institutional investors.

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.