CG Oncology Inc (NASDAQ: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 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 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 (NASDAQ:CGON) have decreased by 17.68% in the past year. An investor who bought shares of CG Oncology 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 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 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.