CG Oncology (NASDAQ:CGON) Shares Down 5.4% – Should You Sell?
by Doug Wharley · The Cerbat GemCG Oncology, Inc. (NASDAQ:CGON – Get Free Report) traded down 5.4% on Tuesday . The company traded as low as $59.11 and last traded at $60.81. 731,877 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 1,204,852 shares. The stock had previously closed at $64.25.
Wall Street Analyst Weigh In
CGON has been the topic of several research analyst reports. Royal Bank Of Canada raised their price objective on CG Oncology from $79.00 to $81.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 price objective on shares of CG Oncology in a report on Monday, May 18th. JPMorgan Chase & Co. lifted their price objective on shares of CG Oncology from $91.00 to $96.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Wolfe Research assumed coverage on shares of CG Oncology in a report on Tuesday, May 19th. They issued a “peer perform” rating for the company. Finally, Truist Financial reaffirmed a “buy” rating and issued a $82.00 price objective (up from $77.00) on shares of CG Oncology in a report on Thursday, May 14th. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, CG Oncology currently has an average rating of “Moderate Buy” and an average target price of $81.73.
Get Our Latest Research Report on CG Oncology
CG Oncology Trading Down 3.7%
The firm has a market cap of $5.46 billion, a price-to-earnings ratio of -26.56 and a beta of 0.41. The stock has a 50-day moving average of $67.26 and a 200-day moving average of $54.94.
CG Oncology (NASDAQ:CGON – Get Free Report) last released its quarterly earnings data on Friday, May 8th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.13). The company had revenue of $1.08 million during the quarter, compared to analyst estimates of $0.45 million. As a group, research analysts expect that CG Oncology, Inc. will post -2.89 earnings per share for the current fiscal year.
Insider Activity
In related news, Director James Mulay sold 15,600 shares of CG Oncology stock in a transaction on Friday, April 17th. The stock was sold at an average price of $73.01, for a total value of $1,138,956.00. Following the transaction, the director directly owned 15,600 shares in the company, valued at $1,138,956. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.80% of the stock is owned by insiders.
Institutional Trading of CG Oncology
Institutional investors and hedge funds have recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of CG Oncology in the fourth quarter worth about $27,000. NFSG Corp acquired a new position in shares of CG Oncology during the 1st quarter worth about $34,000. Strengthening Families & Communities LLC acquired a new position in shares of CG Oncology during the 3rd quarter worth about $40,000. Comerica Bank lifted its position in shares of CG Oncology by 100.4% during the 4th quarter. Comerica Bank now owns 1,028 shares of the company’s stock worth $43,000 after purchasing an additional 515 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new position in shares of CG Oncology during the 1st quarter worth about $74,000. Institutional investors and hedge funds 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.