CG Oncology, Inc. (NASDAQ:CGON) Short Interest Up 16.9% in July

CG Oncology, Inc. (NASDAQ:CGON) was the target of a large increase in short interest in the month of July. As of July 31st, there was short interest totalling 6,840,000 shares, an increase of 16.9% from the July 15th total of 5,850,000 shares. Approximately 16.8% of the shares of the company are short sold. Based on an average daily trading volume, of 653,700 shares, the short-interest ratio is presently 10.5 days.

CG Oncology Price Performance

Shares of CGON stock traded down $0.18 during mid-day trading on Friday, reaching $34.22. The stock had a trading volume of 468,517 shares, compared to its average volume of 647,165. CG Oncology has a one year low of $25.77 and a one year high of $50.23. The firm’s 50 day simple moving average is $33.28 and its 200 day simple moving average is $36.37.

CG Oncology (NASDAQ:CGON) last issued its earnings results on Thursday, August 8th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.14. The firm had revenue of $0.11 million during the quarter. As a group, equities analysts expect that CG Oncology will post -1.64 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of CG Oncology

Several institutional investors have recently made changes to their positions in the business. Decheng Capital LLC bought a new position in CG Oncology during the first quarter worth about $239,642,000. Vanguard Group Inc. acquired a new position in shares of CG Oncology in the 1st quarter worth approximately $97,678,000. BVF Inc. IL bought a new position in shares of CG Oncology during the 1st quarter worth approximately $82,716,000. Yu Fan acquired a new stake in CG Oncology in the 2nd quarter valued at $49,828,000. Finally, Janus Henderson Group PLC bought a new stake in CG Oncology in the first quarter valued at $66,757,000. 26.56% of the stock is currently owned by institutional investors and hedge funds.

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.