CG Oncology, Inc. (NASDAQ:CGON – Get Free Report) saw a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 6,840,000 shares, a growth of 16.9% from the July 15th total of 5,850,000 shares. Based on an average daily trading volume, of 653,700 shares, the days-to-cover ratio is presently 10.5 days. Approximately 16.8% of the company’s shares are short sold.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on CGON shares. The Goldman Sachs Group upgraded 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. Cantor Fitzgerald restated an “overweight” rating and issued a $75.00 price objective on shares of CG Oncology in a research report on Thursday, May 2nd. HC Wainwright reaffirmed a “buy” rating and set a $75.00 price objective on shares of CG Oncology in a research note on Tuesday, May 28th. Finally, Bank of America initiated coverage on CG Oncology in a research note on Friday, June 28th. They issued a “buy” rating and a $65.00 target price for the company. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, CG Oncology currently has a consensus rating of “Buy” and an average price target of $64.00.
View Our Latest Stock Report on CG Oncology
Institutional Inflows and Outflows
CG Oncology Trading Down 0.5 %
CGON traded down $0.18 during trading on Friday, hitting $34.22. The company had a trading volume of 468,517 shares, compared to its average volume of 647,165. CG Oncology has a one year low of $25.77 and a one year high of $50.23. The firm’s 50-day moving average price is $33.28 and its 200 day moving average price is $36.38.
CG Oncology (NASDAQ:CGON – Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.14. The firm had revenue of $0.11 million during the quarter. As a group, research analysts anticipate that CG Oncology will post -1.64 EPS for the current fiscal year.
CG Oncology Company Profile
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.
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