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Morgan Stanley initates Cg Oncology Inc. (CGON) stock to an Overweight

Cg Oncology Inc.’s recent filing unveils that its 10% Owner Decheng Capital Global Life Sc acquired Company’s shares for reported $7.6 million on Jan 29 ’24. In the deal valued at $19.00 per share,400,000 shares were bought. As a result of this transaction, Decheng Capital Global Life Sc now holds 400,000 shares worth roughly $10.34 million.

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Then, Song Hong Fang bought 263,157 shares, generating $4,999,983 in total proceeds. Upon buying the shares at $19.00, the Director now owns 613,928 shares.

Before that, Roche Corleen M. bought 2,000 shares. Cg Oncology Inc. shares valued at $38,000 were divested by the CFO & Secretary at a price of $19.00 per share. As a result of the transaction, Roche Corleen M. now holds 2,000 shares, worth roughly $51680.0.

Morgan Stanley initiated its Cg Oncology Inc. [CGON] rating to an Overweight in a research note published on February 20, 2024; the price target was $55. A number of analysts have revised their coverage, including Goldman’s analysts, who began to cover the stock in mid February with a ‘”a Neutral”‘ rating. Cantor Fitzgerald began covering CGON with “an Overweight” recommendation on February 20, 2024. H.C. Wainwright started covering the stock on February 14, 2024. It rated CGON as “a Buy”.

Price Performance Review of CGON

On Monday, Cg Oncology Inc. [NASDAQ:CGON] saw its stock fall -9.33% to $25.84. Over the last five days, the stock has lost -26.38%. Cg Oncology Inc. shares have fallen nearly -30.48% since the year began.

Levels Of Support And Resistance For CGON Stock

The 24-hour chart illustrates a support level at 24.65, which if violated will result in even more drops to 23.45. On the upside, there is a resistance level at 28.16. A further resistance level may holdings at 30.47. The Relative Strength Index (RSI) on the 14-day chart is 26.82, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -7.52, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 99.67%. Stochastics %K at 5.03% indicates the stock is a buying.

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