CG Oncology (NASDAQ:CGON) Rating Reiterated by HC Wainwright

CG Oncology (NASDAQ:CGON)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a research note issued on Tuesday, Benzinga reports. They presently have a $75.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 102.37% from the stock’s previous close.

A number of other brokerages have also commented on CGON. Bank of America assumed coverage on CG Oncology in a research report on Friday, June 28th. They issued a “buy” rating and a $65.00 target price for the company. Roth Capital upgraded CG Oncology to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, Roth Mkm assumed coverage on CG Oncology in a research report on Tuesday, August 27th. They set a “buy” rating and a $65.00 target price on the stock. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $64.17.

CG Oncology Trading Down 1.8 %

Shares of CG Oncology stock opened at $37.06 on Tuesday. The business has a 50-day moving average price of $35.12 and a two-hundred day moving average price of $35.37. CG Oncology has a 1-year low of $25.77 and a 1-year high of $50.23.

CG Oncology (NASDAQ:CGON) last released its earnings results on Thursday, August 8th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.14. The business had revenue of $0.11 million for the quarter. On average, sell-side analysts forecast that CG Oncology will post -1.47 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Hong Fang Song sold 650,455 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $35.36, for a total transaction of $23,000,088.80. Following the transaction, the director now directly owns 586,982 shares of the company’s stock, valued at $20,755,683.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hedge Funds Weigh In On CG Oncology

Several institutional investors have recently modified their holdings of the business. Decheng Capital LLC purchased a new position in CG Oncology in the first quarter worth $239,642,000. Vanguard Group Inc. bought a new stake in shares of CG Oncology during the 1st quarter worth $97,678,000. BVF Inc. IL purchased a new position in shares of CG Oncology in the 1st quarter worth about $82,716,000. Yu Fan bought a new position in CG Oncology during the second quarter valued at about $49,828,000. Finally, Janus Henderson Group PLC purchased a new stake in CG Oncology during the first quarter worth about $66,757,000. 26.56% of the stock is owned by institutional investors.

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.