CG Oncology (NASDAQ:CGON) Shares Down 5.4% – Should You Sell?

CG Oncology, Inc. (NASDAQ:CGON)’s share price was down 5.4% during trading on Tuesday . The company traded as low as $59.11 and last traded at $60.81. Approximately 731,877 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 1,204,852 shares. The stock had previously closed at $64.25.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CGON shares. JPMorgan Chase & Co. raised their price objective on CG Oncology from $91.00 to $96.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Wall Street Zen downgraded CG Oncology from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Wedbush raised their price objective on CG Oncology from $77.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. HC Wainwright restated a “buy” rating and issued a $100.00 price objective on shares of CG Oncology in a report on Monday, May 18th. Finally, Wolfe Research assumed coverage on CG Oncology in a research note on Tuesday, May 19th. They issued a “peer perform” rating for the company. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, CG Oncology presently has a consensus rating of “Moderate Buy” and an average price target of $81.73.

CG Oncology Stock Down 3.7%

The firm has a market cap of $5.46 billion, a price-to-earnings ratio of -26.56 and a beta of 0.41. The business has a 50 day moving average price of $67.26 and a 200-day moving average price of $54.94.

CG Oncology (NASDAQ:CGON) last posted its earnings results on Friday, May 8th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.13). The firm had revenue of $1.08 million during the quarter, compared to analyst estimates of $0.45 million. Research analysts anticipate that CG Oncology, Inc. will post -2.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CG Oncology news, Director James Mulay sold 15,600 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $73.01, for a total transaction of $1,138,956.00. Following the completion of the sale, the director owned 15,600 shares in the company, valued at $1,138,956. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CG Oncology

Hedge funds have recently bought and sold shares of the business. Candriam S.C.A. grew its stake in CG Oncology by 35.9% during the 3rd quarter. Candriam S.C.A. now owns 1,037,892 shares of the company’s stock valued at $41,806,000 after purchasing an additional 274,312 shares in the last quarter. JPMorgan Chase & Co. grew its stake in CG Oncology by 321.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 227,879 shares of the company’s stock valued at $9,179,000 after purchasing an additional 173,785 shares in the last quarter. Vanguard Group Inc. grew its stake in CG Oncology by 11.4% during the 3rd quarter. Vanguard Group Inc. now owns 6,577,281 shares of the company’s stock valued at $264,933,000 after purchasing an additional 670,770 shares in the last quarter. Mangrove Partners IM LLC grew its stake in CG Oncology by 21.0% during the 3rd quarter. Mangrove Partners IM LLC now owns 671,692 shares of the company’s stock valued at $27,056,000 after purchasing an additional 116,575 shares in the last quarter. Finally, Sivik Global Healthcare LLC acquired a new stake in CG Oncology during the 4th quarter valued at approximately $1,453,000. Institutional investors and hedge funds own 26.56% of the company’s stock.

CG Oncology Company Profile

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.