CG Oncology, Inc. (NASDAQ:CGON – Get Free Report) shot up 5.1% during trading on Friday . The stock traded as high as $31.78 and last traded at $31.51. 101,046 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 671,472 shares. The stock had previously closed at $29.99.
Wall Street Analysts Forecast Growth
Several research firms recently commented on CGON. Cantor Fitzgerald reiterated an “overweight” rating and issued a $75.00 price objective on shares of CG Oncology in a report on Thursday, May 2nd. The Goldman Sachs Group upgraded CG Oncology from a “neutral” rating to a “buy” rating and boosted their price target for the company from $43.00 to $50.00 in a research note on Monday, May 13th. Morgan Stanley began coverage on CG Oncology in a research report on Tuesday, February 20th. They set an “overweight” rating and a $55.00 price objective on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $75.00 price objective on shares of CG Oncology in a research report on Monday, May 6th.
Get Our Latest Analysis on CG Oncology
CG Oncology Stock Up 11.1 %
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the business. Decheng Capital LLC purchased a new position in CG Oncology in the 1st quarter worth approximately $239,642,000. Vanguard Group Inc. purchased a new position in CG Oncology in the 1st quarter worth approximately $97,678,000. BVF Inc. IL purchased a new position in CG Oncology in the 1st quarter worth approximately $82,716,000. Janus Henderson Group PLC purchased a new stake in shares of CG Oncology during the 1st quarter worth approximately $66,757,000. Finally, RA Capital Management L.P. purchased a new stake in shares of CG Oncology during the 1st quarter worth approximately $61,347,000. 26.56% of the stock is owned by hedge funds and other institutional investors.
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.
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