CG Oncology (NASDAQ:CGON) Research Coverage Started at Guggenheim

Guggenheim started coverage on shares of CG Oncology (NASDAQ:CGON) in a research report released on Tuesday morning, Marketbeat reports. The brokerage issued a buy rating and a $90.00 target price on the stock.

CGON has been the subject of a number of other research reports. Jones Trading began coverage on shares of CG Oncology in a research report on Monday, September 8th. They issued a “buy” rating and a $50.00 target price for the company. The Goldman Sachs Group raised shares of CG Oncology to a “strong-buy” rating and set a $40.00 target price for the company in a research report on Thursday, July 10th. Cantor Fitzgerald reissued an “overweight” rating and issued a $75.00 target price on shares of CG Oncology in a research report on Monday, September 8th. Royal Bank Of Canada reduced their target price on shares of CG Oncology from $68.00 to $53.00 and set an “outperform” rating for the company in a research report on Wednesday, July 16th. Finally, Morgan Stanley boosted their target price on shares of CG Oncology from $56.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $58.82.

CG Oncology Price Performance

CGON stock opened at $44.46 on Tuesday. The company has a fifty day moving average price of $31.71 and a two-hundred day moving average price of $27.08. CG Oncology has a one year low of $14.80 and a one year high of $44.47. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of -25.12 and a beta of 1.31.

CG Oncology (NASDAQ:CGON) last announced its earnings results on Friday, August 8th. The company reported ($0.54) earnings per share (EPS) 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%. Research analysts anticipate that CG Oncology will post -1.31 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director James Mulay sold 27,015 shares of the business’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $31.53, for a total value of $851,782.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Leonard E. Post sold 2,000 shares of the business’s stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $28.00, for a total value of $56,000.00. The disclosure for this sale can be found here. Insiders have sold 170,456 shares of company stock valued at $5,308,111 over the last 90 days. 7.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Winthrop Capital Management LLC acquired a new position in CG Oncology during the second quarter worth about $38,000. CWM LLC raised its stake in CG Oncology by 3,957.7% during the first quarter. CWM LLC now owns 2,110 shares of the company’s stock worth $52,000 after acquiring an additional 2,058 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of CG Oncology by 1,051.0% in the first quarter. GAMMA Investing LLC now owns 2,302 shares of the company’s stock valued at $56,000 after buying an additional 2,102 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of CG Oncology by 15.6% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,945 shares of the company’s stock valued at $77,000 after buying an additional 398 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of CG Oncology by 15.2% in the second quarter. PNC Financial Services Group Inc. now owns 3,279 shares of the company’s stock valued at $85,000 after buying an additional 433 shares during the period. Institutional investors and hedge funds own 26.56% of the company’s stock.

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.