CG Oncology, Inc. (NASDAQ:CGON) Receives Consensus Recommendation of “Buy” from Analysts

CG Oncology, Inc. (NASDAQ:CGON) has been given a consensus recommendation of “Buy” by the nine research firms that are covering the firm, Marketbeat reports. Eight equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $63.88.

Several equities research analysts have weighed in on CGON shares. Bank of America reissued a “buy” rating and issued a $65.00 price target on shares of CG Oncology in a report on Tuesday, October 8th. UBS Group assumed coverage on shares of CG Oncology in a research report on Thursday, October 24th. They set a “buy” rating and a $60.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $75.00 price target on shares of CG Oncology in a research note on Friday, December 6th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $66.00 price objective on shares of CG Oncology in a research note on Friday, December 6th.

Insider Transactions at CG Oncology

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $34.54, for a total value of $34,540.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Hong Fang Song sold 700,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $28.00, for a total transaction of $19,600,000.00. Following the sale, the director now directly owns 3,003,931 shares in the company, valued at $84,110,068. The trade was a 18.90 % decrease in their position. The disclosure for this sale can be found here.

Hedge Funds Weigh In On CG Oncology

Several large investors have recently made changes to their positions in CGON. Amalgamated Bank increased its holdings in CG Oncology by 107.6% in the third quarter. Amalgamated Bank now owns 1,621 shares of the company’s stock valued at $61,000 after buying an additional 840 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of CG Oncology during the 3rd quarter valued at about $241,000. Profund Advisors LLC purchased a new position in shares of CG Oncology in the 2nd quarter valued at about $300,000. HighVista Strategies LLC acquired a new position in CG Oncology in the 3rd quarter worth about $594,000. Finally, M&T Bank Corp boosted its position in CG Oncology by 55.7% during the third quarter. M&T Bank Corp now owns 16,758 shares of the company’s stock worth $632,000 after purchasing an additional 5,996 shares in the last quarter. 26.56% of the stock is currently owned by institutional investors and hedge funds.

CG Oncology Price Performance

NASDAQ:CGON opened at $30.52 on Monday. CG Oncology has a 52 week low of $25.77 and a 52 week high of $50.23. The firm has a 50 day moving average of $33.03 and a 200 day moving average of $34.30.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.06. CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. The firm had revenue of $0.04 million during the quarter, compared to analyst estimates of $0.30 million. Equities research analysts anticipate that CG Oncology will post -1.32 EPS for the current year.

CG Oncology Company Profile

CG Oncology, Inc, an oncolytic immunotherapy company, focuses on developing and commercializing backbone bladder-sparing therapeutics for patients with bladder cancer. The company develops BOND-003 for the treatment of high-risk bacillus calmette guerin (BCG)-unresponsive non-muscle invasive bladder cancer (NMIBC) patients; CORE-001 to treat cretostimogene in combination with pembrolizumab in high-risk BCG-unresponsive NMIBC patients; and CORE-002 for the treatment of cretostimogene in combination with the checkpoint inhibitor nivolumab in muscle invasive bladder cancer patients.