CG Oncology (NASDAQ:CGON) Trading Down 6.3% – Time to Sell?

CG Oncology, Inc. (NASDAQ:CGON) shares dropped 6.3% during trading on Monday . The stock traded as low as $40.37 and last traded at $39.16. Approximately 124,590 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 562,916 shares. The stock had previously closed at $41.79.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Morgan Stanley boosted their price objective on CG Oncology from $56.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, September 17th. HC Wainwright reaffirmed a “buy” rating and set a $75.00 price objective on shares of CG Oncology in a research note on Monday, September 15th. JPMorgan Chase & Co. increased their target price on CG Oncology from $41.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, September 26th. Weiss Ratings restated a “sell (d-)” rating on shares of CG Oncology in a research report on Wednesday, October 8th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $75.00 price target on shares of CG Oncology in a research note on Monday, September 8th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.58.

CG Oncology Price Performance

The firm has a market capitalization of $3.20 billion, a P/E ratio of -19.44 and a beta of 1.35. The stock has a fifty day moving average of $41.35 and a 200 day moving average of $34.78.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings data on Friday, November 14th. The company reported ($0.57) EPS for the quarter, hitting the consensus estimate of ($0.57). The company had revenue of $0.16 million during the quarter, compared to the consensus estimate of $0.07 million. Equities analysts forecast that CG Oncology, Inc. will post -1.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $41.43, for a total transaction of $41,430.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James Mulay sold 5,903 shares of CG Oncology stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $43.99, for a total transaction of $259,672.97. Additional details regarding this sale are available in the official SEC disclosure.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of CG Oncology by 11.4% in the third quarter. Vanguard Group Inc. now owns 6,577,281 shares of the company’s stock worth $264,933,000 after acquiring an additional 670,770 shares during the period. Wellington Management Group LLP raised its stake in shares of CG Oncology by 190.3% during the 3rd quarter. Wellington Management Group LLP now owns 5,512,779 shares of the company’s stock valued at $222,055,000 after purchasing an additional 3,613,885 shares during the period. Alliancebernstein L.P. lifted its holdings in CG Oncology by 15.0% during the 2nd quarter. Alliancebernstein L.P. now owns 2,164,214 shares of the company’s stock worth $56,270,000 after purchasing an additional 281,637 shares in the last quarter. Bank of America Corp DE boosted its stake in CG Oncology by 409.9% in the 2nd quarter. Bank of America Corp DE now owns 1,736,769 shares of the company’s stock worth $45,156,000 after purchasing an additional 1,396,170 shares during the period. Finally, Franklin Resources Inc. grew its holdings in CG Oncology by 12.7% during the 2nd quarter. Franklin Resources Inc. now owns 1,486,839 shares of the company’s stock valued at $38,658,000 after buying an additional 167,905 shares in the last quarter. 26.56% of the stock is currently owned by hedge funds and other institutional investors.

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.