CG Oncology (NASDAQ:CGON) Shares Down 5.4% - Here's Why

Key Points

• Shares fell 5.4% to about $64 on Thursday on light trading—only ~102,770 shares exchanged hands, down roughly 92% from the average daily volume.
• Analysts are largely bullish: 11 Buys, 1 Hold, 1 Sell with an average target of $75 and several firms raising targets (HC Wainwright $100, Morgan Stanley $93, Goldman $82).
• CG Oncology remains unprofitable (Q4 EPS -$0.51, beat -$0.61) with a market cap of about $5.6B; a director sold ~1,964 shares while several institutions added new positions, leaving insider ownership at ~7.4% and institutional ownership at ~26.6%.

CG Oncology, Inc. (NASDAQ:CGON - Get Free Report)'s stock price was down 5.4% during trading on Thursday . The company traded as low as $65.62 and last traded at $64.02. Approximately 102,770 shares changed hands during trading, a decline of 92% from the average daily volume of 1,305,594 shares. The stock had previously closed at $67.68.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CGON shares. Truist Financial increased their price objective on shares of CG Oncology from $66.00 to $75.00 and gave the stock a "buy" rating in a report on Tuesday, February 10th. The Goldman Sachs Group restated a "buy" rating and set a $82.00 target price on shares of CG Oncology in a research report on Monday, January 12th. Weiss Ratings restated a "sell (d-)" rating on shares of CG Oncology in a research report on Wednesday, January 21st. HC Wainwright upped their target price on shares of CG Oncology from $80.00 to $100.00 and gave the company a "buy" rating in a research report on Tuesday, April 7th. Finally, Morgan Stanley set a $93.00 target price on shares of CG Oncology in a research report on Friday, January 9th. Eleven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $75.00.

CG Oncology Stock Performance

The company has a market capitalization of $5.59 billion, a price-to-earnings ratio of -31.96 and a beta of 0.70. The business's 50-day simple moving average is $61.52 and its 200-day simple moving average is $50.10.

CG Oncology (NASDAQ:CGON - Get Free Report) last released its earnings results on Friday, February 27th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.61) by $0.10. The business had revenue of $2.32 million for the quarter. On average, analysts forecast that CG Oncology, Inc. will post -1.31 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director James Mulay sold 1,964 shares of CG Oncology stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $63.50, for a total transaction of $124,714.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 7.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Seven Fleet Capital Management LP bought a new position in CG Oncology during the 4th quarter worth approximately $62,909,000. T. Rowe Price Investment Management Inc. bought a new position in CG Oncology during the 4th quarter worth approximately $17,547,000. Invesco Ltd. boosted its stake in CG Oncology by 10.9% during the 4th quarter. Invesco Ltd. now owns 38,140 shares of the company's stock worth $1,584,000 after acquiring an additional 3,761 shares during the last quarter. ADAR1 Capital Management LLC boosted its stake in CG Oncology by 3.7% during the 4th quarter. ADAR1 Capital Management LLC now owns 258,139 shares of the company's stock worth $10,718,000 after acquiring an additional 9,222 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in CG Oncology during the 4th quarter worth approximately $1,400,000. Institutional investors 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.

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