CG Oncology (NASDAQ:CGON) Now Covered by Analysts at Truist Financial

Truist Financial started coverage on shares of CG Oncology (NASDAQ:CGON) in a research note issued to investors on Monday morning, MarketBeat reports. The firm issued a buy rating and a $62.00 price objective on the stock.

Several other analysts have also recently weighed in on the company. Zacks Research raised CG Oncology from a “strong sell” rating to a “hold” rating in a report on Monday, September 1st. Morgan Stanley upped their price objective on shares of CG Oncology from $56.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 17th. Wall Street Zen raised shares of CG Oncology from a “sell” rating to a “hold” rating in a research note on Friday, October 3rd. HC Wainwright reissued a “buy” rating and issued a $75.00 price target on shares of CG Oncology in a research note on Monday, September 15th. Finally, Piper Sandler began coverage on shares of CG Oncology in a research report on Monday, August 18th. They set an “overweight” rating and a $55.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, CG Oncology presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.73.

CG Oncology Price Performance

CGON opened at $43.56 on Monday. The company has a fifty day moving average price of $40.57 and a 200-day moving average price of $31.60. The firm has a market capitalization of $3.51 billion, a P/E ratio of -21.35 and a beta of 1.32. CG Oncology has a one year low of $14.80 and a one year high of $45.56.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings data on Friday, November 14th. The company reported ($0.57) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.57). The company had revenue of $1.51 million for the quarter, compared to the consensus estimate of $0.07 million. CG Oncology had a negative return on equity of 21.67% and a negative net margin of 15,945.17%. On average, analysts expect that CG Oncology will post -1.31 earnings per share for the current year.

Insider Buying and Selling at CG Oncology

In other news, Director Hong Fang Song sold 100,000 shares of the company’s stock in a transaction on 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James Mulay sold 5,903 shares of CG Oncology stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $43.99, for a total transaction of $259,672.97. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 175,359 shares of company stock valued at $5,553,214. Insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On CG Oncology

Institutional investors and hedge funds have recently bought and sold shares of the stock. CIBC Bancorp USA Inc. purchased a new position in CG Oncology in the 3rd quarter worth approximately $240,000. Voleon Capital Management LP purchased a new position in shares of CG Oncology in the third quarter worth $410,000. Verition Fund Management LLC purchased a new position in shares of CG Oncology in the third quarter worth $221,000. Vestal Point Capital LP bought a new stake in CG Oncology during the 3rd quarter valued at $7,049,000. Finally, Nantahala Capital Management LLC purchased a new stake in CG Oncology during the 3rd quarter valued at $4,409,000. 26.56% of the stock is currently 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.