Brokerages Set CG Oncology, Inc. (NASDAQ:CGON) Price Target at $64.43

CG Oncology, Inc. (NASDAQ:CGON) has received an average rating of “Buy” from the eight analysts that are currently covering the stock, Marketbeat reports. Seven analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $64.43.

A number of equities analysts recently commented on the company. HC Wainwright restated a “buy” rating and issued a $75.00 price objective on shares of CG Oncology in a report on Tuesday, September 17th. Roth Mkm assumed coverage on CG Oncology in a report on Tuesday, August 27th. They issued a “buy” rating and a $65.00 price objective on the stock. Bank of America restated a “buy” rating and issued a $65.00 price objective on shares of CG Oncology in a report on Tuesday, October 8th. Roth Capital upgraded CG Oncology to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, Royal Bank of Canada assumed coverage on CG Oncology in a report on Monday, September 23rd. They issued an “outperform” rating and a $66.00 price objective on the stock.

CG Oncology Stock Down 0.9 %

CGON stock opened at $36.44 on Wednesday. CG Oncology has a one year low of $25.77 and a one year high of $50.23. The firm has a 50-day moving average of $36.31 and a two-hundred day moving average of $34.94.

CG Oncology (NASDAQ:CGON) last issued its earnings results on Thursday, August 8th. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.14. The business had revenue of $0.11 million during the quarter. As a group, equities research analysts predict that CG Oncology will post -1.47 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Hong Fang Song sold 650,455 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $35.36, for a total value of $23,000,088.80. Following the completion of the sale, the director now directly owns 586,982 shares of the company’s stock, valued at approximately $20,755,683.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in CG Oncology in the third quarter worth $664,000. Deerfield Management Company L.P. Series C lifted its position in CG Oncology by 811.9% in the second quarter. Deerfield Management Company L.P. Series C now owns 433,540 shares of the company’s stock worth $13,687,000 after purchasing an additional 386,000 shares during the period. Marshall Wace LLP bought a new position in CG Oncology in the second quarter worth $2,399,000. Yu Fan bought a new position in CG Oncology in the second quarter worth $49,828,000. Finally, Profund Advisors LLC bought a new position in CG Oncology in the second quarter worth $300,000. 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.