CG Oncology (NASDAQ:CGON) Stock Price Down 2.6%

CG Oncology, Inc. (NASDAQ:CGON)’s stock price was down 2.6% on Wednesday . The company traded as low as $30.31 and last traded at $30.51. Approximately 30,764 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 666,971 shares. The stock had previously closed at $31.32.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CGON shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $75.00 price target on shares of CG Oncology in a research report on Thursday, May 2nd. The Goldman Sachs Group upgraded 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 report on Monday, May 13th. Bank of America assumed coverage on CG Oncology in a research report on Friday, June 28th. They set a “buy” rating and a $65.00 price objective for the company. Finally, HC Wainwright restated a “buy” rating and set a $75.00 price objective on shares of CG Oncology in a research report on Tuesday, May 28th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, CG Oncology has an average rating of “Buy” and an average price target of $64.00.

CG Oncology Price Performance

The company has a 50 day moving average price of $33.36.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.01). The company had revenue of $0.53 million during the quarter. On average, sell-side analysts predict that CG Oncology, Inc. will post -1.64 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD bought a new position in CG Oncology in the 1st quarter worth approximately $43,555,000. Janus Henderson Group PLC bought a new position in CG Oncology in the 1st quarter worth approximately $66,757,000. RA Capital Management L.P. bought a new position in CG Oncology in the 1st quarter worth approximately $61,347,000. BVF Inc. IL acquired a new stake in shares of CG Oncology during the 1st quarter worth approximately $82,716,000. Finally, Blackstone Inc. acquired a new stake in shares of CG Oncology during the 1st quarter worth approximately $1,098,000. 26.56% of the stock is 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.