CG Oncology (NASDAQ:CGON) Sees Unusually-High Trading Volume

CG Oncology, Inc. (NASDAQ:CGON) saw strong trading volume on Thursday . 1,279,462 shares traded hands during mid-day trading, an increase of 101% from the previous session’s volume of 637,087 shares.The stock last traded at $37.06 and had previously closed at $36.79.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CGON shares. Roth Capital raised CG Oncology to a “strong-buy” rating in a report on Tuesday. HC Wainwright reaffirmed a “buy” rating and set a $75.00 price target on shares of CG Oncology in a report on Tuesday, May 28th. The Goldman Sachs Group raised shares of CG Oncology from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $43.00 to $50.00 in a report on Monday, May 13th. Bank of America began coverage on shares of CG Oncology in a report on Friday, June 28th. They issued a “buy” rating and a $65.00 target price on the stock. Finally, Roth Mkm assumed coverage on shares of CG Oncology in a research note on Tuesday. They set a “buy” rating and a $65.00 target price for the company. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, CG Oncology has a consensus rating of “Buy” and an average target price of $64.17.

CG Oncology Trading Up 0.5 %

The firm’s 50-day moving average is $33.78 and its 200-day moving average is $36.23.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.14. The business had revenue of $0.11 million for the quarter. On average, equities analysts predict that CG Oncology, Inc. will post -1.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Hong Fang Song sold 650,455 shares of CG Oncology stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $35.36, for a total transaction of $23,000,088.80. Following the transaction, the director now directly owns 586,982 shares of the company’s stock, valued at approximately $20,755,683.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Institutional Trading of CG Oncology

Several institutional investors and hedge funds have recently modified their holdings of CGON. BNP Paribas Financial Markets purchased a new stake in CG Oncology in the 1st quarter worth $492,000. Capstone Investment Advisors LLC bought a new stake in CG Oncology during the 1st quarter valued at approximately $806,000. TimesSquare Capital Management LLC purchased a new position in CG Oncology in the 1st quarter worth approximately $9,837,000. Vanguard Group Inc. bought a new position in CG Oncology in the 1st quarter worth approximately $97,678,000. Finally, Ameritas Investment Partners Inc. bought a new position in CG Oncology in the 1st quarter worth approximately $102,000. 26.56% of the stock is currently owned by institutional investors.

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.