CG Oncology, Inc. (NASDAQ:CGON) Sees Significant Decrease in Short Interest

CG Oncology, Inc. (NASDAQ:CGON) was the recipient of a significant decrease in short interest during the month of January. As of January 15th, there was short interest totaling 9,387,150 shares, a decrease of 27.3% from the December 31st total of 12,919,357 shares. Approximately 11.6% of the company’s shares are sold short. Based on an average trading volume of 1,679,102 shares, the short-interest ratio is presently 5.6 days. Based on an average trading volume of 1,679,102 shares, the short-interest ratio is presently 5.6 days. Approximately 11.6% of the company’s shares are sold short.

Insider Buying and Selling at CG Oncology

In other news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $41.43, for a total transaction of $41,430.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James Mulay sold 11,145 shares of the stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $52.47, for a total transaction of $584,778.15. The SEC filing for this sale provides additional information.

Institutional Trading of CG Oncology

Several institutional investors have recently added to or reduced their stakes in CGON. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of CG Oncology during the fourth quarter valued at approximately $27,000. Strengthening Families & Communities LLC purchased a new position in shares of CG Oncology during the third quarter worth approximately $40,000. Comerica Bank boosted its holdings in CG Oncology by 100.4% in the fourth quarter. Comerica Bank now owns 1,028 shares of the company’s stock worth $43,000 after acquiring an additional 515 shares in the last quarter. Winthrop Capital Management LLC acquired a new position in shares of CG Oncology in the 2nd quarter valued at $38,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of CG Oncology by 15.6% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,945 shares of the company’s stock worth $77,000 after purchasing an additional 398 shares during the last quarter. 26.56% of the stock is currently owned by institutional investors.

CG Oncology Stock Down 2.6%

Shares of NASDAQ CGON traded down $1.37 during trading hours on Friday, reaching $52.05. 778,005 shares of the stock traded hands, compared to its average volume of 1,460,183. The company has a market capitalization of $4.20 billion, a P/E ratio of -25.51 and a beta of 1.31. The company’s 50-day simple moving average is $45.57 and its two-hundred day simple moving average is $38.36. CG Oncology has a 52-week low of $14.80 and a 52-week high of $57.88.

CG Oncology (NASDAQ:CGON) last released its quarterly earnings data on Friday, November 14th. The company reported ($0.57) earnings per share for the quarter, meeting the consensus estimate of ($0.57). The firm had revenue of $0.16 million during the quarter, compared to the consensus estimate of $0.07 million. As a group, sell-side analysts forecast that CG Oncology will post -1.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of CG Oncology in a research report on Wednesday, January 21st. Morgan Stanley set a $93.00 price objective on shares of CG Oncology in a report on Friday, January 9th. Wedbush initiated coverage on 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 reiterated a “buy” rating and set a $82.00 price target on shares of CG Oncology in a research report on Monday, January 12th. Finally, Truist Financial lifted their price objective on CG Oncology from $62.00 to $66.00 and gave the company a “buy” rating in a report on Friday, January 9th. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $67.83.

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.