CG Oncology (NASDAQ:CGON) Shares Gap Up to $25.84

Shares of CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $25.84, but opened at $27.80. CG Oncology shares last traded at $28.30, with a volume of 171,237 shares changing hands.

Wall Street Analyst Weigh In

CGON has been the subject of several analyst reports. The Goldman Sachs Group upgraded CG Oncology from a "neutral" rating to a "buy" rating and increased their target price for the company from $43.00 to $50.00 in a report on Monday. HC Wainwright reaffirmed a "buy" rating and set a $75.00 price target on shares of CG Oncology in a research report on Monday, May 6th. Morgan Stanley began coverage on CG Oncology in a research report on Tuesday, February 20th. They set an "overweight" rating and a $55.00 price target for the company. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $75.00 price target on shares of CG Oncology in a research report on Thursday, May 2nd.

CG Oncology Stock Up 5.7 %

The company has a 50-day moving average of $37.98.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CGON. Ameritas Investment Partners Inc. bought a new position in shares of CG Oncology in the 1st quarter worth approximately $102,000. BNP Paribas Financial Markets bought a new position in CG Oncology during the 1st quarter valued at approximately $492,000. Capstone Investment Advisors LLC bought a new position in CG Oncology during the 1st quarter valued at approximately $806,000. StemPoint Capital LP bought a new position in CG Oncology during the 1st quarter valued at approximately $1,788,000. Finally, TimesSquare Capital Management LLC bought a new position in CG Oncology during the 1st quarter valued at approximately $9,837,000. 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.