CG Oncology (NASDAQ:CGON) Stock Price Up 7.3% – Time to Buy?

CG Oncology, Inc. (NASDAQ:CGON)’s stock price traded up 7.3% during mid-day trading on Friday . The stock traded as high as $26.68 and last traded at $27.85. 27,636 shares were traded during trading, a decline of 95% from the average session volume of 581,442 shares. The stock had previously closed at $25.95.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $75.00 price target on shares of CG Oncology in a report on Friday, January 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $66.00 price target on shares of CG Oncology in a report on Friday, December 6th. TD Cowen assumed coverage on shares of CG Oncology in a report on Tuesday, January 7th. They set a “buy” rating for the company. Finally, Morgan Stanley restated an “overweight” rating and issued a $55.00 price objective on shares of CG Oncology in a report on Friday, March 7th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, CG Oncology currently has an average rating of “Buy” and a consensus price target of $63.88.

CG Oncology Trading Up 7.1 %

The stock has a fifty day simple moving average of $28.36 and a two-hundred day simple moving average of $32.49.

Insider Activity

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the business’s 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 legal filing with the SEC, which is available at this link. Also, Director Hong Fang Song sold 700,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $28.00, for a total value of $19,600,000.00. Following the transaction, the director now directly owns 3,003,931 shares in the company, valued at $84,110,068. This represents a 18.90 % decrease in their position. The disclosure for this sale can be found here.

Institutional Trading of CG Oncology

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp increased its stake in CG Oncology by 73.0% in the 3rd quarter. State Street Corp now owns 1,700,653 shares of the company’s stock worth $64,166,000 after acquiring an additional 717,722 shares during the last quarter. Ally Bridge Group NY LLC boosted its holdings in shares of CG Oncology by 50.5% in the 3rd quarter. Ally Bridge Group NY LLC now owns 263,266 shares of the company’s stock worth $9,933,000 after purchasing an additional 88,390 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of CG Oncology by 114.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 379,664 shares of the company’s stock worth $14,325,000 after purchasing an additional 202,262 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in CG Oncology by 876.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 26,660 shares of the company’s stock valued at $1,006,000 after acquiring an additional 23,931 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in CG Oncology by 59.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 31,071 shares of the company’s stock valued at $1,172,000 after acquiring an additional 11,542 shares during the period. 26.56% of the stock is currently owned by institutional investors.

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.