CG Oncology (NASDAQ:CGON) Stock Price Down 2.6%

CG Oncology, Inc. (NASDAQ:CGON) fell 2.6% during trading on Wednesday . The stock traded as low as $30.31 and last traded at $30.51. 30,764 shares were traded during trading, a decline of 95% from the average session volume of 666,971 shares. The stock had previously closed at $31.32.

Analyst Ratings Changes

Several brokerages recently commented on CGON. The Goldman Sachs Group raised CG Oncology from a “neutral” rating to a “buy” rating and increased their price target for the company from $43.00 to $50.00 in a research report on Monday, May 13th. HC Wainwright reissued a “buy” rating and set a $75.00 price target on shares of CG Oncology in a research report on Tuesday, May 28th. Bank of America began coverage on CG Oncology in a research report on Friday, June 28th. They set a “buy” rating and a $65.00 price target for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $75.00 price objective on shares of CG Oncology in a research note on Thursday, May 2nd. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $64.00.

CG Oncology Stock Down 1.6 %

The firm’s fifty day simple moving average is $33.36.

CG Oncology (NASDAQ:CGON) last issued its earnings results on Thursday, May 9th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.01). The business had revenue of $0.53 million during the quarter. As a group, equities research analysts predict that CG Oncology, Inc. will post -1.64 earnings per share for the current year.

Institutional Investors Weigh In On CG Oncology

Several hedge funds have recently modified their holdings of CGON. Ameritas Investment Partners Inc. acquired a new stake in shares of CG Oncology during the 1st quarter valued at $102,000. California State Teachers Retirement System acquired a new stake in shares of CG Oncology during the 1st quarter valued at $103,000. BNP Paribas Financial Markets acquired a new stake in shares of CG Oncology during the 1st quarter valued at $492,000. Capstone Investment Advisors LLC acquired a new stake in shares of CG Oncology during the 1st quarter valued at $806,000. Finally, Blackstone Inc. acquired a new stake in shares of CG Oncology during the 1st quarter valued at $1,098,000. 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.