The stock of Cg Oncology Inc. (CGON) has gone down by -24.00% for the week, with a -22.03% drop in the past month and a -23.07% drop in the past quarter. The volatility ratio for the week is 19.17%, and the volatility levels for the past 30 days are 10.18% for CGON. The simple moving average for the past 20 days is -19.44% for CGON’s stock, with a -24.37% simple moving average for the past 200 days.
Is It Worth Investing in Cg Oncology Inc. (NASDAQ: CGON) Right Now?
There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The public float for CGON is 40.92M and currently, short sellers hold a 6.85% ratio of that float. The average trading volume of CGON on May 10, 2024 was 603.55K shares.
CGON) stock’s latest price update
Cg Oncology Inc. (NASDAQ: CGON)’s stock price has dropped by -7.43 in relation to previous closing price of 32.43. Nevertheless, the company has seen a loss of -24.00% in its stock price over the last five trading days. GlobeNewsWire reported 2024-04-24 that IRVINE, Calif., April 24, 2024 (GLOBE NEWSWIRE) — CG Oncology, Inc. (NASDAQ: CGON), a late-stage clinical biopharmaceutical company focused on developing and commercializing a potential backbone bladder-sparing therapeutic for patients with bladder cancer, today announced that an abstract with final results of CORE-001, its Phase 2 trial of cretostimogene in combination with pembrolizumab, will be presented at the American Society of Clinical Oncology (ASCO) 2024 Annual Meeting, which will take place from May 31-June 4, 2024, at McCormick Place Convention Center, in Chicago, IL.
Analysts’ Opinion of CGON
Many brokerage firms have already submitted their reports for CGON stocks, with Morgan Stanley repeating the rating for CGON by listing it as a “Overweight.” The predicted price for CGON in the upcoming period, according to Morgan Stanley is $55 based on the research report published on February 20, 2024 of the current year 2024.
Goldman, on the other hand, stated in their research note that they expect to see CGON reach a price target of $42. The rating they have provided for CGON stocks is “Neutral” according to the report published on February 20th, 2024.
Cantor Fitzgerald gave a rating of “Overweight” to CGON, setting the target price at $75 in the report published on February 20th of the current year.
CGON Trading at -22.90% from the 50-Day Moving Average
After a stumble in the market that brought CGON to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -40.23% of loss for the given period.
Volatility was left at 10.18%, however, over the last 30 days, the volatility rate increased by 19.17%, as shares sank -24.67% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -32.39% lower at present.
During the last 5 trading sessions, CGON fell by -24.00%, in comparison to the 20-day moving average, which settled at $36.77. In addition, Cg Oncology Inc. saw -19.24% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at CGON starting from Decheng Capital Global Life Sc, who purchase 400,000 shares at the price of $19.00 back on Jan 29 ’24. After this action, Decheng Capital Global Life Sc now owns 400,000 shares of Cg Oncology Inc., valued at $7,600,000 using the latest closing price.
Song Hong Fang, the Director of Cg Oncology Inc., purchase 263,157 shares at $19.00 during a trade that took place back on Jan 29 ’24, which means that Song Hong Fang is holding 613,928 shares at $4,999,983 based on the most recent closing price.
Stock Fundamentals for CGON
The liquidity ratio also appears to be rather interesting for investors as it stands at 13.62.
Conclusion
In conclusion, Cg Oncology Inc. (CGON) has seen bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
