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

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

Wall Street Analysts Forecast Growth

CGON has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of CG Oncology from $91.00 to $96.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Wolfe Research initiated coverage on shares of CG Oncology in a research note on Tuesday, May 19th. They set a “peer perform” rating on the stock. Truist Financial reiterated a “buy” rating and set a $82.00 price target (up from $77.00) on shares of CG Oncology in a research note on Thursday, May 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of CG Oncology in a research note on Monday, April 20th. Finally, Wall Street Zen lowered shares of CG Oncology from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $81.73.

CG Oncology Price Performance

The firm’s 50-day simple moving average is $66.95 and its two-hundred day simple moving average is $55.41. The company has a market capitalization of $5.36 billion, a price-to-earnings ratio of -26.06 and a beta of 0.41.

CG Oncology (NASDAQ:CGON) last issued its earnings results on Friday, May 8th. The company reported ($0.71) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.13). The business had revenue of $1.08 million for the quarter, compared to the consensus estimate of $0.45 million. On average, analysts expect that CG Oncology, Inc. will post -2.89 EPS for the current fiscal year.

Insiders Place Their Bets

In other CG Oncology news, Director James Mulay sold 15,600 shares of the company’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $73.01, for a total transaction of $1,138,956.00. Following the transaction, the director directly owned 15,600 shares in the company, valued at approximately $1,138,956. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 4.80% of the company’s stock.

Institutional Trading of CG Oncology

Several large investors have recently modified their holdings of CGON. Vanguard Group Inc. lifted its stake in shares of CG Oncology by 11.4% during the third quarter. Vanguard Group Inc. now owns 6,577,281 shares of the company’s stock valued at $264,933,000 after buying an additional 670,770 shares during the period. Wellington Management Group LLP lifted its stake in shares of CG Oncology by 8.8% during the fourth quarter. Wellington Management Group LLP now owns 5,999,790 shares of the company’s stock valued at $249,111,000 after buying an additional 487,011 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of CG Oncology by 116.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,443,144 shares of the company’s stock valued at $142,961,000 after buying an additional 1,854,386 shares during the period. State Street Corp lifted its stake in shares of CG Oncology by 46.4% during the fourth quarter. State Street Corp now owns 2,996,695 shares of the company’s stock valued at $124,423,000 after buying an additional 950,028 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in shares of CG Oncology by 15.0% during the second quarter. Alliancebernstein L.P. now owns 2,164,214 shares of the company’s stock valued at $56,270,000 after buying an additional 281,637 shares during the period. 26.56% of the stock is currently owned by institutional investors and hedge funds.

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.