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

CG Oncology, Inc. (NASDAQ:CGON) has been given a consensus rating of “Buy” by the ten analysts that are covering the company, MarketBeat reports. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $63.88.

CGON has been the topic of several research reports. TD Cowen initiated coverage on shares of CG Oncology in a research report on Tuesday, January 7th. They issued a “buy” rating on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $75.00 price objective on shares of CG Oncology in a research report on Friday, January 10th. UBS Group initiated coverage on shares of CG Oncology in a research report on Thursday, October 24th. They issued a “buy” rating and a $60.00 price objective on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $66.00 price objective on shares of CG Oncology in a research report on Friday, December 6th.

CG Oncology Stock Performance

CG Oncology stock opened at $28.52 on Tuesday. CG Oncology has a fifty-two week low of $25.77 and a fifty-two week high of $50.23. The firm’s 50-day simple moving average is $29.44 and its 200 day simple moving average is $33.54.

Insider Buying and Selling

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $29.66, for a total value of $29,660.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Hong Fang Song sold 700,000 shares of the business’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 transaction, the director now directly owns 3,003,931 shares of the company’s stock, valued at approximately $84,110,068. This represents a 18.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 702,000 shares of company stock valued at $19,664,200.

Institutional Investors Weigh In On CG Oncology

Institutional investors have recently made changes to their positions in the business. Amalgamated Bank boosted its stake 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 purchasing an additional 840 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in CG Oncology during the 4th quarter valued at $68,000. KLP Kapitalforvaltning AS purchased a new stake in CG Oncology during the 4th quarter valued at $100,000. Federated Hermes Inc. purchased a new stake in CG Oncology during the 4th quarter valued at $172,000. Finally, Meeder Asset Management Inc. purchased a new stake in CG Oncology during the 4th quarter valued at $189,000. Hedge funds and other institutional investors own 26.56% of the company’s stock.

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.