CG Oncology, Inc.’s Lock-Up Period Will End on July 23rd (NASDAQ:CGON)

CG Oncology’s (NASDAQ:CGON) lock-up period will expire on Tuesday, July 23rd. CG Oncology had issued 20,000,000 shares in its public offering on January 25th. The total size of the offering was $380,000,000 based on an initial share price of $19.00. After the expiration of CG Oncology’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

Wall Street Analysts Forecast Growth

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

CG Oncology Stock Performance

NASDAQ CGON opened at $34.83 on Tuesday. The company has a 50-day moving average of $32.98. CG Oncology has a 12 month low of $25.77 and a 12 month high of $50.23.

CG Oncology (NASDAQ:CGON) last announced its earnings results on Thursday, May 9th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.01). The company had revenue of $0.53 million during the quarter. Equities research analysts expect that CG Oncology will post -1.64 EPS for the current year.

Hedge Funds Weigh In On CG Oncology

A number of hedge funds have recently bought and sold shares of the company. TimesSquare Capital Management LLC acquired a new stake in CG Oncology during the 1st quarter worth about $9,837,000. Capstone Investment Advisors LLC acquired a new stake in CG Oncology during the first quarter worth approximately $806,000. Price T Rowe Associates Inc. MD bought a new stake in CG Oncology in the first quarter worth approximately $43,555,000. Janus Henderson Group PLC acquired a new position in CG Oncology in the first quarter valued at approximately $66,757,000. Finally, RA Capital Management L.P. bought a new position in shares of CG Oncology during the 1st quarter worth approximately $61,347,000. Institutional investors own 26.56% of the company’s stock.

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.