CG Oncology (NASDAQ:CGON) Sees Unusually-High Trading Volume – Still a Buy?

CG Oncology, Inc. (NASDAQ:CGON) saw unusually-strong trading volume on Wednesday . Approximately 1,772,084 shares were traded during trading, an increase of 49% from the previous session’s volume of 1,188,735 shares.The stock last traded at $62.87 and had previously closed at $62.80.

Analyst Ratings Changes

CGON has been the subject of a number of research analyst reports. Wedbush initiated coverage on shares of CG Oncology in a research note on Thursday, December 11th. They set an “outperform” rating and a $70.00 price objective for the company. The Goldman Sachs Group restated a “buy” rating and issued a $82.00 target price on shares of CG Oncology in a report on Monday, January 12th. HC Wainwright upped their price target on shares of CG Oncology from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Morgan Stanley set a $93.00 price target on shares of CG Oncology in a report on Friday, January 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of CG Oncology in a research note on Wednesday, January 21st. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.00.

CG Oncology Stock Performance

The stock has a fifty day moving average price of $54.21 and a 200-day moving average price of $44.31. The firm has a market cap of $5.34 billion, a PE ratio of -30.59 and a beta of 1.18.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings results on Friday, February 27th. The company reported ($0.51) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.10. The business had revenue of $2.32 million for the quarter. As a group, equities analysts predict that CG Oncology, Inc. will post -1.31 earnings per share for the current fiscal year.

Insider Buying and Selling at CG Oncology

In related news, Director James Mulay sold 11,145 shares of CG Oncology stock in a transaction on Friday, January 9th. The shares were sold at an average price of $52.47, for a total transaction of $584,778.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of CG Oncology by 11.4% in 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 in the last quarter. Wellington Management Group LLP lifted its position in CG Oncology by 8.8% during the 4th quarter. Wellington Management Group LLP now owns 5,999,790 shares of the company’s stock worth $249,111,000 after acquiring an additional 487,011 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in CG Oncology by 116.7% in 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 acquiring an additional 1,854,386 shares in the last quarter. State Street Corp raised 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 purchasing an additional 950,028 shares during the period. Finally, Alliancebernstein L.P. lifted its position 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 worth $56,270,000 after purchasing an additional 281,637 shares in the last quarter. Institutional investors and hedge funds own 26.56% of the company’s stock.

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.