CG Oncology (NASDAQ:CGON) Sees Large Volume Increase

CG Oncology, Inc. (NASDAQ:CGON) saw an uptick in trading volume on Thursday . 1,279,462 shares traded hands during mid-day trading, an increase of 101% from the previous session’s volume of 637,087 shares.The stock last traded at $37.06 and had previously closed at $36.79.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CGON. The Goldman Sachs Group upgraded CG Oncology from a “neutral” rating to a “buy” rating and upped their price objective for the company from $43.00 to $50.00 in a research report on Monday, May 13th. Roth Capital upgraded CG Oncology to a “strong-buy” rating in a research report on Tuesday. Bank of America assumed coverage on CG Oncology in a research report on Friday, June 28th. They set a “buy” rating and a $65.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $75.00 target price on shares of CG Oncology in a research report on Thursday, May 2nd. Finally, HC Wainwright reiterated a “buy” rating and set a $75.00 target price on shares of CG Oncology in a research report on Tuesday, May 28th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $64.17.

CG Oncology Stock Down 0.3 %

The business has a fifty day moving average price of $33.58 and a 200 day moving average price of $36.28.

CG Oncology (NASDAQ:CGON) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.14. The firm had revenue of $0.11 million during the quarter. As a group, equities research analysts anticipate that CG Oncology, Inc. will post -1.64 earnings per share for the current year.

Hedge Funds Weigh In On CG Oncology

A number of large investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. acquired a new stake in shares of CG Oncology in the first quarter valued at about $102,000. California State Teachers Retirement System acquired a new stake in shares of CG Oncology in the first quarter valued at about $103,000. Rhumbline Advisers grew its stake in shares of CG Oncology by 13.0% in the second quarter. Rhumbline Advisers now owns 34,229 shares of the company’s stock valued at $1,081,000 after buying an additional 3,940 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of CG Oncology by 2.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 266,787 shares of the company’s stock valued at $8,422,000 after buying an additional 6,899 shares in the last quarter. Finally, Profund Advisors LLC acquired a new stake in shares of CG Oncology in the second quarter valued at about $300,000. 26.56% of the stock is currently owned by hedge funds and other institutional investors.

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.