Bank of America Begins Coverage on CG Oncology (NASDAQ:CGON)

Bank of America assumed coverage on shares of CG Oncology (NASDAQ:CGON) in a research report report published on Friday morning, MarketBeat.com reports. The firm issued a buy rating and a $65.00 target price on the stock.

CGON has been the subject of several other reports. HC Wainwright restated a buy rating and set a $75.00 price objective on shares of CG Oncology in a research report on Tuesday, May 28th. The Goldman Sachs Group upgraded CG Oncology from a neutral rating to a buy rating and upped their price objective for the stock from $43.00 to $50.00 in a research report on Monday, May 13th. Finally, Cantor Fitzgerald restated an overweight rating and set a $75.00 price objective on shares of CG Oncology in a research report on Thursday, May 2nd. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of Buy and an average price target of $64.00.

CG Oncology Stock Up 0.5 %

NASDAQ:CGON opened at $31.72 on Friday. The firm’s fifty day moving average is $33.46. 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 announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.01). The company had revenue of $0.53 million during the quarter. On average, research analysts expect that CG Oncology will post -1.71 earnings per share for the current year.

Hedge Funds Weigh In On CG Oncology

Institutional investors and hedge funds have recently bought and sold shares of the company. Ameritas Investment Partners Inc. acquired a new position in CG Oncology in the 1st quarter worth about $102,000. California State Teachers Retirement System bought a new position in shares of CG Oncology during the first quarter worth about $103,000. BNP Paribas Financial Markets bought a new position in shares of CG Oncology during the first quarter worth about $492,000. Capstone Investment Advisors LLC bought a new position in shares of CG Oncology during the first quarter worth about $806,000. Finally, Blackstone Inc. bought a new position in shares of CG Oncology during the first quarter worth about $1,098,000. 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.