CG Oncology (NASDAQ:CGON) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of CG Oncology (NASDAQ:CGON) from a sell rating to a hold rating in a research report sent to investors on Friday.

CGON has been the topic of a number of other research reports. Royal Bank Of Canada cut their price objective on CG Oncology from $68.00 to $53.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 16th. Jones Trading initiated coverage on CG Oncology in a report on Monday, September 8th. They issued a “buy” rating and a $50.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of CG Oncology in a report on Saturday, September 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $75.00 price target on shares of CG Oncology in a research report on Monday, September 8th. Finally, Zacks Research upgraded CG Oncology from a “strong sell” rating to a “hold” rating in a research note on Monday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, CG Oncology has a consensus rating of “Moderate Buy” and an average target price of $56.55.

CG Oncology Price Performance

Shares of NASDAQ:CGON opened at $39.82 on Friday. The firm has a market capitalization of $3.04 billion, a PE ratio of -22.50 and a beta of 1.31. CG Oncology has a 1 year low of $14.80 and a 1 year high of $40.65. The firm’s 50-day moving average is $30.60 and its two-hundred day moving average is $26.74.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings data on Friday, August 8th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.05). CG Oncology had a negative net margin of 15,945.17% and a negative return on equity of 19.37%. Analysts expect that CG Oncology will post -1.31 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Hong Fang Song sold 100,000 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $27.80, for a total value of $2,780,000.00. Following the completion of the sale, the director directly owned 2,903,931 shares of the company’s stock, valued at approximately $80,729,281.80. This represents a 3.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Leonard E. Post sold 2,000 shares of the stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $28.00, for a total transaction of $56,000.00. The disclosure for this sale can be found here. Insiders sold a total of 170,456 shares of company stock valued at $5,308,111 in the last quarter. Corporate insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Squarepoint Ops LLC acquired a new stake in shares of CG Oncology during the fourth quarter worth $313,000. California State Teachers Retirement System lifted its stake in shares of CG Oncology by 115.3% in the 4th quarter. California State Teachers Retirement System now owns 38,768 shares of the company’s stock worth $1,112,000 after acquiring an additional 20,763 shares during the period. GAMMA Investing LLC lifted its stake in shares of CG Oncology by 1,051.0% in the 1st quarter. GAMMA Investing LLC now owns 2,302 shares of the company’s stock worth $56,000 after acquiring an additional 2,102 shares during the period. Rhumbline Advisers boosted its holdings in shares of CG Oncology by 8.2% in the first quarter. Rhumbline Advisers now owns 74,689 shares of the company’s stock valued at $1,829,000 after acquiring an additional 5,673 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of CG Oncology by 8.8% during the first quarter. Bank of New York Mellon Corp now owns 147,560 shares of the company’s stock worth $3,614,000 after acquiring an additional 11,993 shares during the period. 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.