HC Wainwright Reaffirms Buy Rating for CG Oncology (NASDAQ:CGON)

CG Oncology (NASDAQ:CGON)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a note issued to investors on Friday,Benzinga reports. They currently have a $75.00 target price on the stock. HC Wainwright’s price target points to a potential upside of 116.83% from the stock’s current price.

A number of other analysts also recently issued reports on the stock. UBS Group initiated coverage on shares of CG Oncology in a report on Thursday, October 24th. They issued a “buy” rating and a $60.00 price objective for the company. Roth Capital upgraded CG Oncology to a “strong-buy” rating in a research note on Tuesday, August 27th. Royal Bank of Canada started coverage on CG Oncology in a research note on Monday, September 23rd. They set an “outperform” rating and a $66.00 price objective on the stock. Bank of America reiterated a “buy” rating and set a $65.00 target price on shares of CG Oncology in a research report on Tuesday, October 8th. Finally, Roth Mkm assumed coverage on CG Oncology in a research report on Tuesday, August 27th. They issued a “buy” rating and a $65.00 price target on the stock. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, CG Oncology has a consensus rating of “Buy” and an average target price of $63.88.

CG Oncology Stock Up 3.1 %

CG Oncology stock opened at $34.59 on Friday. The stock’s 50 day moving average is $35.78 and its 200-day moving average is $34.92. 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 data on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, beating 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. Research analysts predict that CG Oncology will post -1.31 earnings per share for the current fiscal year.

Insider Transactions at CG Oncology

In other news, Director Leonard E. Post sold 1,000 shares of the company’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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Investors Weigh In On CG Oncology

Several hedge funds have recently modified their holdings of CGON. Amalgamated Bank raised its position in CG Oncology by 107.6% in 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 during the last quarter. California State Teachers Retirement System bought a new position in CG Oncology in the 1st quarter valued at approximately $103,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in CG Oncology during the 3rd quarter worth approximately $241,000. Profund Advisors LLC bought a new stake in CG Oncology during the 2nd quarter worth approximately $300,000. Finally, HighVista Strategies LLC acquired a new position in CG Oncology in the 3rd quarter valued at approximately $594,000. Institutional investors and hedge funds 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.