CG Oncology (NASDAQ:CGON) Hits New 12-Month Low – Here’s Why

CG Oncology, Inc. (NASDAQ:CGON)’s share price hit a new 52-week low on Monday . The company traded as low as $15.71 and last traded at $15.93, with a volume of 60182 shares trading hands. The stock had previously closed at $17.20.

Wall Street Analysts Forecast Growth

Several research firms have commented on CGON. HC Wainwright reiterated a “buy” rating and set a $75.00 price objective on shares of CG Oncology in a research note on Monday, March 31st. Morgan Stanley reiterated an “overweight” rating and set a $55.00 price target on shares of CG Oncology in a research report on Friday, March 7th. Finally, TD Cowen began coverage on shares of CG Oncology in a research note on Tuesday, January 7th. They set a “buy” rating on the stock. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $63.88.

CG Oncology Price Performance

The company’s 50 day simple moving average is $26.99 and its 200 day simple moving average is $31.26. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of -11.64 and a beta of 1.24.

CG Oncology (NASDAQ:CGON) last released its 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 company had revenue of $0.46 million during the quarter, compared to analysts’ expectations of $0.11 million. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. As a group, analysts forecast that CG Oncology, Inc. will post -1.31 earnings per share for the current year.

Insider Buying and Selling at CG Oncology

In related news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $29.66, for a total value of $29,660.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Institutional Trading of CG Oncology

A number of institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its position in shares of CG Oncology by 114.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 379,664 shares of the company’s stock worth $14,325,000 after acquiring an additional 202,262 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in CG Oncology by 21.3% during the third quarter. The Manufacturers Life Insurance Company now owns 73,149 shares of the company’s stock worth $2,760,000 after purchasing an additional 12,848 shares in the last quarter. FMR LLC lifted its position in shares of CG Oncology by 83,581.6% during the 3rd quarter. FMR LLC now owns 145,606 shares of the company’s stock worth $5,494,000 after buying an additional 145,432 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of CG Oncology by 876.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 26,660 shares of the company’s stock valued at $1,006,000 after buying an additional 23,931 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of CG Oncology in the 3rd quarter valued at $241,000. 26.56% of the stock is owned by hedge funds and other institutional investors.

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.