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

CG Oncology, Inc. (NASDAQ:CGON) has been assigned a consensus rating of “Buy” from the ten research firms that are presently covering the stock, MarketBeat Ratings reports. Nine analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $63.88.

CGON has been the subject of a number of recent research reports. HC Wainwright reiterated a “buy” rating and issued a $75.00 target price on shares of CG Oncology in a research note on Friday, January 10th. Bank of America reiterated a “buy” rating and issued a $65.00 target price on shares of CG Oncology in a research report on Tuesday, October 8th. UBS Group began coverage on shares of CG Oncology in a research report on Thursday, October 24th. They issued a “buy” rating and a $60.00 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $66.00 price objective on shares of CG Oncology in a research report on Friday, December 6th. Finally, TD Cowen started coverage on CG Oncology in a research report on Tuesday, January 7th. They set a “buy” rating on the stock.

Insider Buying and Selling at CG Oncology

In other CG Oncology news, Director Hong Fang Song sold 700,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now owns 3,003,931 shares of the company’s stock, valued at $84,110,068. The trade was a 18.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Leonard E. Post sold 1,000 shares of the firm’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $34.54, for a total transaction of $34,540.00. The disclosure for this sale can be found here. Insiders sold 702,000 shares of company stock valued at $19,664,200 in the last quarter.

Institutional Trading of CG Oncology

A number of hedge funds have recently modified their holdings of the company. Amalgamated Bank boosted its holdings in CG Oncology by 107.6% during the third quarter. Amalgamated Bank now owns 1,621 shares of the company’s stock valued at $61,000 after purchasing an additional 840 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of CG Oncology during the third quarter valued at $241,000. Profund Advisors LLC acquired a new stake in shares of CG Oncology in the 2nd quarter valued at $300,000. HighVista Strategies LLC bought a new stake in shares of CG Oncology in the 3rd quarter worth about $594,000. Finally, M&T Bank Corp grew its stake 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 buying an additional 5,996 shares during the last quarter. Institutional investors own 26.56% of the company’s stock.

CG Oncology Trading Up 1.8 %

Shares of NASDAQ CGON opened at $30.75 on Friday. The company has a 50-day simple moving average of $30.96 and a 200-day simple moving average of $34.11. CG Oncology has a 12 month low of $25.77 and a 12 month high of $50.23.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share (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 firm had revenue of $0.04 million for the quarter, compared to analyst estimates of $0.30 million. As a group, analysts expect that CG Oncology will post -1.31 EPS for the current year.

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.