CG Oncology Inc ( CGON ) shares are trading lower by 6.02% to $31.67 during Wednesday’s session. The company announced it filed an underwritten public offering of 7.3 million shares of its common stock.

What To Know: CG Oncology ( CGON ) has filed a Form S-1 registration with the SEC for a proposed public offering of 7.3 million shares of common stock.

Additionally, an existing stockholder plans to sell 700,000 shares in the offering, though CG Oncology ( CGON ) will not receive proceeds from those sales. The company may grant underwriters a 30-day option to purchase up to 1.2 million additional shares.

The offering’s terms, including the public price, remain undetermined and depend on market conditions.

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Should I Sell My CGON Stock?

When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.

Shares of CG Oncology ( CGON ) have decreased by 17.68% in the past year. An investor who bought shares of CG Oncology ( CGON ) at the beginning of the year would take a loss of $6.57 per share if they sold it today. The stock has fallen 17.25% over the past month, meaning an investor who bought shares on Nov. 1 would see a capital loss of $6.18.

CG Oncology ( CGON ) shares have an all-time high of $47.93, representing 56.63% upside from current levels.

Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. CG Oncology ( CGON ) stock currently has an RSI of 44.21, indicating neutral conditions.

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CGON has a 52-week high of $50.23 and a 52-week low of $25.77.