CG Oncology (NASDAQ:CGON) Earns “Buy” Rating from HC Wainwright

CG Oncology (NASDAQ:CGON)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They currently have a $75.00 price objective on the stock. HC Wainwright’s price objective points to a potential upside of 148.34% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. TD Cowen assumed coverage on shares of CG Oncology in a research report on Tuesday, January 7th. They issued a “buy” rating for the company. Bank of America reissued a “buy” rating and issued a $65.00 price target on shares of CG Oncology in a research report on Tuesday, October 8th. Royal Bank of Canada restated an “outperform” rating and issued a $66.00 price objective on shares of CG Oncology in a report on Friday, December 6th. Finally, UBS Group began coverage on shares of CG Oncology in a report on Thursday, October 24th. They issued a “buy” rating and a $60.00 price objective on the stock. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $63.88.

CG Oncology Stock Down 0.9 %

NASDAQ:CGON opened at $30.20 on Friday. The company has a 50 day moving average price of $32.44 and a 200 day moving average price of $34.24. CG Oncology has a fifty-two week low of $25.77 and a fifty-two week high of $50.23.

CG Oncology (NASDAQ:CGON) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.06. The firm had revenue of $0.04 million during the quarter, compared to analysts’ expectations of $0.30 million. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. On average, sell-side analysts anticipate that CG Oncology will post -1.32 earnings per share for the current year.

Insider Buying and Selling

In other CG Oncology news, Director Hong Fang Song sold 700,000 shares of CG Oncology stock in a transaction on Monday, December 16th. The shares were sold at an average price of $28.00, for a total value of $19,600,000.00. Following the transaction, the director now directly owns 3,003,931 shares in the company, valued at approximately $84,110,068. The trade was a 18.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Leonard E. Post sold 1,000 shares of CG Oncology 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.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CGON. Amalgamated Bank boosted its holdings in shares of 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 acquiring an additional 840 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of CG Oncology in the third quarter valued at about $241,000. Profund Advisors LLC purchased a new stake in shares of CG Oncology in the second quarter valued at about $300,000. HighVista Strategies LLC purchased a new stake in shares of CG Oncology in the third quarter valued at about $594,000. Finally, M&T Bank Corp boosted its holdings 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 in the last quarter. 26.56% of the stock is currently owned by institutional investors and hedge funds.

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.