Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Cg Oncology Inc. shares valued at $7,600,000 were purchased by Decheng Capital Global Life Sc on Jan 29 ’24. At $19.00 per share, Decheng Capital Global Life Sc acquired 400,000 shares. The insider’s holdings grew to 400,000 shares worth approximately $15.8 million following the completion of this transaction.
Also, Song Hong Fang purchased 263,157 shares, netting a total of over 4,999,983 in proceeds. Following the buying of shares at $19.00 each, the insider now holds 613,928 shares.
Before that, Roche Corleen M. had added 2,000 shares to its account. In a trade valued at $38,000, the CFO & Secretary bought Cg Oncology Inc. shares for $19.00 each. Upon closing the transaction, the insider’s holdings increased to 2,000 shares, worth approximately $79000.0.
As published in their initiating research note from Morgan Stanley on February 20, 2024, Cg Oncology Inc. [CGON] has been an Overweight and the price target has been revised to $55. Analysts at Goldman started covering the stock with ‘”a Neutral”‘ outlook in a report released in mid February. As of February 20, 2024, Cantor Fitzgerald has initiated its “an Overweight” rating for CGON. Earlier on February 14, 2024, H.C. Wainwright initiated its rating. Their recommendation was “a Buy” for CGON stock.
Analyzing CGON Stock Performance
During the last five days, there has been a surge of approximately 9.12%. Over the course of the year, Cg Oncology Inc. shares have jumped approximately 6.27%.
Support And Resistance Levels for Cg Oncology Inc. (CGON)
According to the 24-hour chart, there is a support level at 37.81, which, if violated, would cause prices to drop to 36.12. In the upper region, resistance lies at 41.88. The next price resistance is at 44.25. RSI (Relative Strength Index) is 51.82 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.40, which suggests the price will increase in the coming days. Percent R is at 42.30%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
