10 Worst Cancer Stocks To Buy Now According to Short Sellers

5. Cg Oncology Inc. (NASDAQ:CGON)

Short % of Float: 17.72%

Number of Hedge Fund Holders: 27

CG Oncology, Inc. (NASDAQ:CGON) is a company specializing in oncolytic immunotherapy, focusing on developing and commercializing bladder-sparing treatments for bladder cancer patients.

On August 27, Roth/MKM initiated coverage of CG Oncology, Inc. (NASDAQ:CGON) with a Buy rating and a price target of $65.00. This rating is based on the anticipated potential of the company’s drug candidate, cretostimogene, which is expected to be submitted for a Biologics License Application (BLA) in the second half of 2025. Cretostimogene is being developed to treat BCG-unresponsive, high-risk non-muscle invasive bladder cancer (HR-NMIBC). Roth/MKM emphasized the drug’s tolerability as a major advantage, potentially allowing it to compete effectively with other treatments that have faced tolerability issues. The firm is optimistic about the drug’s efficacy for both HR-NMIBC and intermediate-risk NMIBC (IR-NMIBC), projecting global sales of over $2 billion by 2033.

Dr. Vijay Kasturi, the company’s Chief Medical Officer, highlighted cretostimogene’s potential as a non-surgical, bladder-sparing option. The treatment’s adverse events were as expected, with no additional toxicity noted when combined with other drugs.

Additionally, on August 8, CG Oncology, Inc. (NASDAQ:CGON) reported an EPS of $0.28 for the quarter, beating analysts’ consensus estimate of $0.42 by $0.14, with revenue of $0.11 million for the period.

As of the end of Q2 2024, 27 hedge funds held positions in CG Oncology, Inc. (NASDAQ:CGON), with stakes valued at approximately $638.45 million.