CG Oncology (NASDAQ:CGON) Hits New 12-Month Low – Should You Sell?

CG Oncology, Inc. (NASDAQ:CGON)’s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $23.16 and last traded at $23.43, with a volume of 213578 shares changing hands. The stock had previously closed at $24.49.

Analyst Ratings Changes

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

CG Oncology Trading Down 6.7 %

The firm has a market capitalization of $1.58 billion, a PE ratio of -14.62 and a beta of 1.60. The firm has a 50-day moving average of $27.50 and a two-hundred day moving average of $31.57.

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

Insider Activity

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

Institutional Investors Weigh In On CG Oncology

Several hedge funds and other institutional investors have recently modified their holdings of the stock. GF Fund Management CO. LTD. acquired a new stake 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 fourth quarter worth about $68,000. KLP Kapitalforvaltning AS acquired a new stake in shares of CG Oncology in the 4th quarter worth about $100,000. Federated Hermes Inc. bought a new stake in CG Oncology in the 4th quarter valued at about $172,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in CG Oncology in the 3rd quarter valued at about $241,000. 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.