CG Oncology (NASDAQ:CGON) Sets New 52-Week Low – What’s Next?

CG Oncology, Inc. (NASDAQ:CGON) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $15.71 and last traded at $15.93, with a volume of 60182 shares. The stock had previously closed at $17.20.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $75.00 price target on shares of CG Oncology in a research report on Monday, March 31st. Morgan Stanley reaffirmed an “overweight” rating and set a $55.00 target price on shares of CG Oncology in a research report on Friday, March 7th. Finally, TD Cowen started coverage on CG Oncology in a report on Tuesday, January 7th. They issued a “buy” rating for the company. 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 data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $63.88.

CG Oncology Stock Performance

The company has a 50 day simple moving average of $26.99 and a two-hundred day simple moving average of $31.26. The firm has a market cap of $1.25 billion, a PE ratio of -11.64 and a beta of 1.24.

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

Insider Activity at CG Oncology

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction dated Monday, January 13th. The stock was 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 available at this hyperlink.

Institutional Trading of CG Oncology

A number of hedge funds have recently modified their holdings of CGON. GF Fund Management CO. LTD. acquired a new position in CG Oncology in the fourth quarter valued at approximately $41,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of CG Oncology during the 4th quarter valued at approximately $68,000. KLP Kapitalforvaltning AS acquired a new position in shares of CG Oncology in the 4th quarter valued at $100,000. Federated Hermes Inc. acquired a new stake in CG Oncology during the fourth quarter valued at $172,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in CG Oncology in the third quarter valued at $241,000. Hedge funds and other 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.