CG Oncology, Inc. (NASDAQ:CGON) Given Consensus Rating of “Buy” by Brokerages

Shares of CG Oncology, Inc. (NASDAQ:CGON) have been given a consensus recommendation of “Buy” by the nine analysts that are currently covering the stock, Marketbeat.com reports. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $63.88.

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

Insider Buying and Selling

In other CG Oncology news, Director Hong Fang Song sold 700,000 shares of the company’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 completion of the sale, the director now directly owns 3,003,931 shares of the company’s stock, valued at $84,110,068. This represents a 18.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Leonard E. Post sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $34.54, for a total value of $34,540.00. The disclosure for this sale can be found here.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Amalgamated Bank lifted its holdings in shares of CG Oncology by 107.6% in the 3rd quarter. Amalgamated Bank now owns 1,621 shares of the company’s stock valued at $61,000 after buying an additional 840 shares during the period. Rhumbline Advisers boosted its position in shares of CG Oncology by 13.0% during the 2nd quarter. Rhumbline Advisers now owns 34,229 shares of the company’s stock worth $1,081,000 after purchasing an additional 3,940 shares in the last quarter. M&T Bank Corp increased its holdings in shares of CG Oncology by 55.7% in the 3rd quarter. M&T Bank Corp now owns 16,758 shares of the company’s stock valued at $632,000 after purchasing an additional 5,996 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of CG Oncology in the third quarter valued at about $241,000. Finally, Massachusetts Financial Services Co. MA boosted its holdings in CG Oncology by 2.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 266,787 shares of the company’s stock worth $8,422,000 after buying an additional 6,899 shares in the last quarter. 26.56% of the stock is owned by hedge funds and other institutional investors.

CG Oncology Price Performance

NASDAQ CGON opened at $30.04 on Monday. The firm has a 50 day simple moving average of $33.77 and a 200-day simple moving average of $34.49. CG Oncology has a one year low of $25.77 and a one year high of $50.23.

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