CG Oncology (NASDAQ:CGON) Trading Down 3.9%

CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) fell 3.9% during trading on Friday . The stock traded as low as $29.27 and last traded at $29.75. 254,417 shares were traded during trading, a decline of 62% from the average session volume of 673,075 shares. The stock had previously closed at $30.97.

Analyst Upgrades and Downgrades

Several research firms have commented on CGON. HC Wainwright reaffirmed a "buy" rating and set a $75.00 price objective on shares of CG Oncology in a research note on Monday, May 6th. The Goldman Sachs Group raised shares of CG Oncology from a "neutral" rating to a "buy" rating and boosted their target price for the company from $43.00 to $50.00 in a research note on Monday. Morgan Stanley initiated coverage on shares of CG Oncology in a research note on Tuesday, February 20th. They set an "overweight" rating and a $55.00 target price for the company. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $75.00 target price on shares of CG Oncology in a research note on Thursday, May 2nd.

CG Oncology Stock Performance

The company's 50 day simple moving average is $37.22.

Institutional Investors Weigh In On CG Oncology

Several large investors have recently modified their holdings of CGON. Vanguard Group Inc. purchased a new position in CG Oncology during the first quarter valued at approximately $97,678,000. Price T Rowe Associates Inc. MD purchased a new position in shares of CG Oncology in the 1st quarter valued at $43,555,000. Janus Henderson Group PLC purchased a new position in shares of CG Oncology in the 1st quarter valued at $66,757,000. BVF Inc. IL bought a new position in shares of CG Oncology in the 1st quarter worth $82,716,000. Finally, Blackstone Inc. purchased a new stake in shares of CG Oncology during the 1st quarter worth $1,098,000. Institutional investors own 26.56% of the company's stock.

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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