CG Oncology, Inc. (NASDAQ:CGON) Given Average Recommendation of “Buy” by Analysts

CG Oncology, Inc. (NASDAQ:CGON) has been assigned a consensus recommendation of “Buy” from the nine research firms that are currently covering the firm, MarketBeat reports. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $63.88.

A number of research analysts recently weighed in on the stock. UBS Group began coverage on shares of CG Oncology in a report on Thursday, October 24th. They issued a “buy” rating and a $60.00 target price for the company. Bank of America reiterated a “buy” rating and issued a $65.00 target price on shares of CG Oncology in a report on Tuesday, October 8th. HC Wainwright restated a “buy” rating and issued a $75.00 price target on shares of CG Oncology in a research report 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 report on Friday, December 6th.

CG Oncology Trading Up 5.4 %

Shares of 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’s fifty day moving average is $33.03 and its two-hundred day moving average is $34.30.

CG Oncology (NASDAQ:CGON) last posted its earnings results on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $0.04 million for the quarter, compared to the consensus estimate of $0.30 million. On average, research analysts forecast that CG Oncology will post -1.32 earnings per share for the current year.

Insider Transactions at CG Oncology

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the company’s stock in a transaction 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Hong Fang Song sold 700,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $28.00, for a total value of $19,600,000.00. Following the transaction, 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.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CGON. Bank of New York Mellon Corp raised its holdings in shares of CG Oncology by 38.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 89,344 shares of the company’s stock valued at $2,821,000 after purchasing an additional 24,801 shares in the last quarter. Rhumbline Advisers raised its stake in CG Oncology by 13.0% in the second quarter. Rhumbline Advisers now owns 34,229 shares of the company’s stock worth $1,081,000 after buying an additional 3,940 shares in the last quarter. TD Asset Management Inc purchased a new stake in CG Oncology during the second quarter worth $2,939,000. Massachusetts Financial Services Co. MA boosted its position in CG Oncology by 2.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 266,787 shares of the company’s stock valued at $8,422,000 after acquiring an additional 6,899 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of CG Oncology by 204.2% in the 2nd quarter. Renaissance Technologies LLC now owns 43,200 shares of the company’s stock valued at $1,364,000 after acquiring an additional 29,000 shares during the period. 26.56% of the stock is currently owned by institutional investors.

About CG Oncology

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.