CG Oncology (NASDAQ:CGON) Trading Down 8.1%

Shares of CG Oncology, Inc. (NASDAQ:CGON) traded down 8.1% on Wednesday . The stock traded as low as $30.92 and last traded at $31.20. 328,852 shares were traded during mid-day trading, a decline of 50% from the average session volume of 651,423 shares. The stock had previously closed at $33.95.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CGON shares. The Goldman Sachs Group assumed coverage on CG Oncology in a report on Tuesday, February 20th. They issued a “neutral” rating and a $42.00 price target on the stock. HC Wainwright restated a “buy” rating and issued a $75.00 price objective on shares of CG Oncology in a research note on Monday. Morgan Stanley started coverage on shares of CG Oncology in a research report on Tuesday, February 20th. They set an “overweight” rating and a $55.00 target price for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $75.00 price target on shares of CG Oncology in a research report on Thursday, May 2nd.

CG Oncology Stock Down 4.5 %

The firm’s 50 day moving average price is $39.17.

Institutional Investors Weigh In On CG Oncology

Large investors have recently added to or reduced their stakes in the company. TimesSquare Capital Management LLC purchased a new position in CG Oncology during the 1st quarter valued at $9,837,000. Capstone Investment Advisors LLC bought a new position in shares of CG Oncology during the first quarter valued at $806,000. Finally, BNP Paribas Financial Markets purchased a new stake in shares of CG Oncology during the first quarter valued at $492,000. Institutional investors own 26.56% of the company’s stock.

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.