CG Oncology (NASDAQ:CGON) Trading Down 7.5% – What’s Next?

Shares of CG Oncology, Inc. (NASDAQ:CGON) dropped 7.5% during trading on Thursday . The stock traded as low as $69.00 and last traded at $68.4450. Approximately 431,027 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 1,220,286 shares. The stock had previously closed at $74.00.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of CG Oncology in a research report on Monday, April 20th. Wedbush lifted their price target on shares of CG Oncology from $77.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Royal Bank Of Canada boosted their price target on CG Oncology from $79.00 to $81.00 and gave the company an “outperform” rating in a report on Monday, May 11th. HC Wainwright increased their price objective on CG Oncology from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, April 7th. Finally, JPMorgan Chase & Co. raised their price objective on CG Oncology from $91.00 to $96.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Eleven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.73.

CG Oncology Stock Performance

The company has a market capitalization of $5.90 billion, a P/E ratio of -28.73 and a beta of 0.41. The company’s fifty day simple moving average is $67.06 and its 200-day simple moving average is $53.95.

CG Oncology (NASDAQ:CGON) last posted its quarterly earnings results on Friday, May 8th. The company reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.13). The firm had revenue of $1.08 million for the quarter, compared to analyst estimates of $0.45 million. On average, sell-side analysts predict that CG Oncology, Inc. will post -2.86 EPS for the current year.

Insider Transactions at CG Oncology

In related news, Director James Mulay sold 15,600 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $73.01, for a total value of $1,138,956.00. Following the completion of the transaction, the director owned 15,600 shares of the company’s stock, valued at $1,138,956. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 4.80% of the stock is currently owned by insiders.

Institutional Trading of CG Oncology

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. bought a new position in shares of CG Oncology in the 4th quarter worth $27,000. NFSG Corp bought a new stake in CG Oncology during the first quarter valued at about $34,000. Strengthening Families & Communities LLC purchased a new position in CG Oncology in the third quarter valued at about $40,000. Comerica Bank grew its stake in CG Oncology by 100.4% in the fourth quarter. Comerica Bank now owns 1,028 shares of the company’s stock valued at $43,000 after purchasing an additional 515 shares during the last quarter. Finally, Fifth Third Bancorp bought a new position in CG Oncology in the first quarter worth about $74,000. Institutional investors own 26.56% of the company’s stock.

About CG Oncology

CG Oncology, Inc (NASDAQ: CGON) is a clinical-stage biopharmaceutical company focused on the discovery and development of novel antibody-based immunotherapies for the treatment of solid tumor cancers. The company leverages a platform-driven approach to identify and optimize antibody candidates that engage key immune checkpoints and co-stimulatory pathways within the tumor microenvironment. Its pipeline encompasses multiple preclinical programs alongside early-phase clinical trials designed to assess safety, dosing and preliminary anti-tumor activity.

Headquartered in South San Francisco, California, CG Oncology conducts clinical research primarily in the United States, collaborating with leading academic medical centers and contract research organizations to advance its lead candidates.