CG Oncology (NASDAQ:CGON) Shares Down 0.9%

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Bank of America assumed coverage on shares of CG Oncology in a research note on Friday. They issued a “buy” rating and a $65.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $75.00 target price on shares of CG Oncology in a research note on Thursday, May 2nd. HC Wainwright restated a “buy” rating and issued a $75.00 target price on shares of CG Oncology in a research note on Tuesday, May 28th. Finally, The Goldman Sachs Group upgraded shares of CG Oncology from a “neutral” rating to a “buy” rating and upped their target price for the stock from $43.00 to $50.00 in a research note on Monday, May 13th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $64.00.

CG Oncology Trading Up 4.4 %

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

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings results 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. As a group, analysts predict that CG Oncology, Inc. will post -1.71 earnings per share for the current year.

Institutional Investors Weigh In On CG Oncology

A number of hedge funds and other institutional investors have recently bought and sold shares of CGON. Decheng Capital LLC purchased a new position in shares of CG Oncology in the first quarter worth $239,642,000. Vanguard Group Inc. acquired a new stake in shares of CG Oncology in the first quarter worth $97,678,000. BVF Inc. IL acquired a new stake in shares of CG Oncology in the first quarter worth $82,716,000. Janus Henderson Group PLC acquired a new stake in shares of CG Oncology in the first quarter worth $66,757,000. Finally, RA Capital Management L.P. acquired a new stake in shares of CG Oncology in the first quarter worth $61,347,000. 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.