CG Oncology, Inc. (NASDAQ:CGON) Given Average Rating of “Moderate Buy” by Brokerages

Shares of CG Oncology, Inc. (NASDAQ:CGON) have been assigned an average recommendation of “Moderate Buy” from the fifteen analysts that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, eleven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $60.5833.

A number of analysts have commented on CGON shares. JPMorgan Chase & Co. upped their price objective on shares of CG Oncology from $41.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, September 26th. 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 restated a “buy” rating and issued a $75.00 price objective on shares of CG Oncology in a report on Monday, September 15th. Wedbush started coverage on shares of CG Oncology in a research report on Thursday. They issued an “outperform” rating and a $70.00 target price for the company. Finally, Royal Bank Of Canada raised their price target on shares of CG Oncology from $53.00 to $61.00 and gave the company an “outperform” rating in a report on Monday, November 17th.

Insider Buying and Selling

In related news, Director James Mulay sold 19,112 shares of the stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $39.01, for a total transaction of $745,559.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Leonard E. Post sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $40.09, for a total transaction of $200,450.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 47,344 shares of company stock worth $1,886,331 over the last three months.

Institutional Investors Weigh In On CG Oncology

Several institutional investors and hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its position in CG Oncology by 2.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 439,278 shares of the company’s stock worth $10,758,000 after purchasing an additional 11,518 shares in the last quarter. Swiss National Bank grew its stake in shares of CG Oncology by 1.9% in the 1st quarter. Swiss National Bank now owns 81,100 shares of the company’s stock valued at $1,986,000 after purchasing an additional 1,500 shares during the period. Invesco Ltd. raised its holdings in shares of CG Oncology by 2.5% in the 1st quarter. Invesco Ltd. now owns 27,754 shares of the company’s stock worth $680,000 after buying an additional 685 shares in the last quarter. Nuveen LLC bought a new position in shares of CG Oncology during the 1st quarter worth approximately $4,084,000. Finally, Fox Run Management L.L.C. acquired a new stake in CG Oncology in the 1st quarter valued at $408,000. Institutional investors own 26.56% of the company’s stock.

CG Oncology Trading Down 1.6%

Shares of CG Oncology stock opened at $40.94 on Monday. CG Oncology has a 52 week low of $14.80 and a 52 week high of $46.01. The stock has a market cap of $3.30 billion, a PE ratio of -20.07 and a beta of 1.29. The company’s 50-day moving average price is $42.01 and its two-hundred day moving average price is $33.36.

CG Oncology (NASDAQ:CGON) last posted its quarterly earnings results on Friday, November 14th. The company reported ($0.57) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.57). The firm had revenue of $0.16 million for the quarter, compared to analyst estimates of $0.07 million. CG Oncology had a negative net margin of 15,945.17% and a negative return on equity of 21.67%. On average, equities analysts predict that CG Oncology will post -1.31 EPS for the current fiscal year.

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.