Cg Oncology Inc (NASDAQ:CGON) price on Wednesday, May 21, fall -1.28% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $26.22.
A look at the stock’s price movement, the close in the last trading session was $26.56. Turning to its 52-week performance, $40.47 and $14.80 were the 52-week high and 52-week low respectively. Overall, CGON moved 28.03% over the past month.
Cg Oncology Inc’s market cap currently stands at around $2.00 billion, with investors looking forward to this quarter’s earnings report slated for in June.
The average forecast suggests up to a 6.46% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 476.88k, representing a -58.13% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that CGON is a Hold. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
4 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 4 recommend CGON as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
CGON’s current price about 3.93% and 9.85% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 56.28, while 7-day volatility ratio is 7.94% and 8.99% in the 30-day chart. Further, Cg Oncology Inc (CGON) has a beta value of 0.93, and an average true range (ATR) of 2.19. Analysts have given the company’s stock an average 52-week price target of $55, forecast between a low of $55 and high of $55. Looking at the price targets, the low is -109.76% off current price level while to achieve the yearly target high, price needs to move -109.76%. Nonetheless, investors will most likely welcome a -109.76% jump to $55 which is the analysts’ median price.
If we refocus on Cg Oncology Inc (NASDAQ:CGON), historical trading data shows that trading volumes averaged 1.36 million over the past 3 months. The company’s latest data on shares outstanding shows there are 76.22 million shares.
The 41.12% of Cg Oncology Inc’s shares are in the hands of company insiders while institutional holders own 71.55% of the company’s shares. Current price change has pushed the stock -8.58% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the CGON stock continues to rise going into the next quarter.
