CG Oncology (NASDAQ:CGON) Trading Down 8.1% – Should You Sell?

Shares of CG Oncology, Inc. (NASDAQ:CGON) fell 8.1% during mid-day trading on Monday . The company traded as low as $24.31 and last traded at $24.28. 364,431 shares traded hands during mid-day trading, a decline of 44% from the average session volume of 650,225 shares. The stock had previously closed at $26.42.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CGON. HC Wainwright reaffirmed a “buy” rating and set a $75.00 target price on shares of CG Oncology in a research note on Monday. Morgan Stanley reaffirmed an “overweight” rating and issued a $55.00 price objective on shares of CG Oncology in a report on Friday, March 7th. TD Cowen started coverage on shares of CG Oncology in a research note on Tuesday, January 7th. They set a “buy” rating on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $66.00 price target on shares of CG Oncology in a research note on Friday, December 6th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $63.88.

CG Oncology Price Performance

The stock has a market capitalization of $1.86 billion, a P/E ratio of -17.25 and a beta of 1.60. The stock’s fifty day moving average is $27.91 and its two-hundred day moving average is $31.80.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings data on Tuesday, March 25th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.11). The company had revenue of $0.46 million for the quarter, compared to analyst estimates of $0.11 million. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. Analysts expect that CG Oncology, Inc. will post -1.31 EPS for the current year.

Insider Buying and Selling

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $29.66, for a total transaction of $29,660.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CGON. GF Fund Management CO. LTD. purchased a new position in CG Oncology during the fourth quarter valued at approximately $41,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of CG Oncology during the 4th quarter valued at $68,000. KLP Kapitalforvaltning AS acquired a new stake in shares of CG Oncology in the 4th quarter valued at $100,000. Federated Hermes Inc. bought a new stake in CG Oncology in the fourth quarter worth $172,000. Finally, Meeder Asset Management Inc. acquired a new position in CG Oncology during the fourth quarter worth $189,000. Hedge funds and other 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.