CG Oncology (NASDAQ:CGON) Shares Down 0.9%

CG Oncology, Inc. (NASDAQ:CGON) dropped 0.9% during trading on Thursday . The stock traded as low as $29.26 and last traded at $30.25. Approximately 408,077 shares changed hands during trading, a decline of 39% from the average daily volume of 672,452 shares. The stock had previously closed at $30.52.

Analyst Ratings Changes

CGON has been the subject of several analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $75.00 price target on shares of CG Oncology in a report on Thursday, May 2nd. Bank of America initiated coverage on shares of CG Oncology in a report on Friday. They set a “buy” rating and a $65.00 price target for the company. HC Wainwright reiterated a “buy” rating and set a $75.00 price target on shares of CG Oncology in a report on Tuesday, May 28th. Finally, The Goldman Sachs Group upgraded shares of CG Oncology from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $43.00 to $50.00 in a research report on Monday, May 13th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $64.00.

CG Oncology Stock Performance

The firm has a 50-day moving average of $33.50.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.01). The firm had revenue of $0.53 million for the quarter. Analysts forecast that CG Oncology, Inc. will post -1.71 earnings per share for the current year.

Institutional Trading of CG Oncology

Institutional investors and hedge funds have recently bought and sold shares of the business. Ameritas Investment Partners Inc. purchased a new stake in CG Oncology in the 1st quarter valued at $102,000. California State Teachers Retirement System purchased a new position in CG Oncology during the 1st quarter worth $103,000. BNP Paribas Financial Markets purchased a new position in CG Oncology during the 1st quarter worth $492,000. Capstone Investment Advisors LLC purchased a new position in CG Oncology during the 1st quarter worth $806,000. Finally, Blackstone Inc. purchased a new position in CG Oncology during the 1st quarter worth $1,098,000. Hedge funds and other institutional investors 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.