10 Oversold Biotech Stocks to Buy Now

8. CG Oncology, Inc. (NASDAQ:CGON)

Relative Strength Index (RSI): 36.76

CG Oncology, Inc. (NASDAQ:CGON) is a clinical biopharmaceutical company that develops and commercializes bladder-sparing therapeutics for bladder cancer. Cretostimogene, one of its products, is presently being developed clinically to treat non-muscle invasive bladder cancer (NMIBC). Significant progress is being made by the business in its pipeline to create a possible bladder-sparing treatment for NMIBC that spares the backbone. Cretostimogene has the potential to cause a long-lasting, full response in patients with bladder cancer because of its excellent safety and tolerability profile. Because cretostimogene’s distinct product profile sets it apart from the current and investigational NMIBC therapies, investors are optimistic about the stock.

As of September 30, 2024, CG Oncology, Inc. (NASDAQ:CGON) has $540.7 million in marketable securities and cash and cash equivalents. Management anticipates that its present cash, cash equivalents, and marketable securities will be adequate to support operations through 2027 based on its current operational plans.

As of fiscal Q3 2024, CG Oncology, Inc. (NASDAQ:CGON) is owned by 26 hedge funds. A 158.01% increase from current levels is implied by its median price goal of $27.32. Bank of America Securities analyst Charlie CY Yang kept his Buy rating on the stock at $65.00 on February 13.