CG Oncology (NASDAQ:CGON) Trading Down 8.1% – Time to Sell?

CG Oncology, Inc. (NASDAQ:CGON)’s stock price fell 8.1% on Monday . The stock traded as low as $24.31 and last traded at $24.28. 364,431 shares were traded during trading, a decline of 44% from the average session volume of 650,225 shares. The stock had previously closed at $26.42.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $66.00 price target on shares of CG Oncology in a report on Friday, December 6th. HC Wainwright reiterated a “buy” rating and set a $75.00 target price on shares of CG Oncology in a research note on Monday. TD Cowen started coverage on shares of CG Oncology in a research report on Tuesday, January 7th. They issued a “buy” rating on the stock. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $55.00 price objective on shares of CG Oncology in a research report on Friday, March 7th. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $63.88.

CG Oncology Price Performance

The firm has a market cap of $1.86 billion, a P/E ratio of -17.25 and a beta of 1.60. The stock’s 50 day moving average is $27.91 and its two-hundred day moving average is $31.80.

CG Oncology (NASDAQ:CGON) last released its quarterly earnings data on Tuesday, March 25th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.11). The company had revenue of $0.46 million during the quarter, compared to the consensus estimate of $0.11 million. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. As a group, research analysts forecast that CG Oncology, Inc. will post -1.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Leonard E. Post sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $29.66, for a total transaction of $29,660.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hedge Funds Weigh In On CG Oncology

Several institutional investors have recently bought and sold shares of CGON. NEOS Investment Management LLC increased its position in CG Oncology by 10.9% in the 4th quarter. NEOS Investment Management LLC now owns 8,329 shares of the company’s stock valued at $239,000 after acquiring an additional 817 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of CG Oncology by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,080 shares of the company’s stock valued at $862,000 after purchasing an additional 1,026 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in CG Oncology in the 4th quarter worth approximately $41,000. Rhumbline Advisers lifted its holdings in CG Oncology by 2.2% during the 4th quarter. Rhumbline Advisers now owns 69,016 shares of the company’s stock worth $1,979,000 after buying an additional 1,458 shares in the last quarter. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in CG Oncology by 16.4% in the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,834 shares of the company’s stock valued at $368,000 after buying an additional 1,810 shares during the last quarter. 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.