HC Wainwright Reaffirms “Buy” Rating for CG Oncology (NASDAQ:CGON)

CG Oncology (NASDAQ:CGON)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $75.00 price objective on the stock. HC Wainwright’s price target indicates a potential upside of 102.70% from the stock’s current price.

CGON has been the subject of several other research reports. Roth Capital raised shares of CG Oncology to a “strong-buy” rating in a report on Tuesday, August 27th. Bank of America initiated coverage on CG Oncology in a research note on Friday, June 28th. They set a “buy” rating and a $65.00 price objective for the company. Finally, Roth Mkm started coverage on CG Oncology in a research note on Tuesday, August 27th. They issued a “buy” rating and a $65.00 target price on the stock. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, CG Oncology currently has a consensus rating of “Buy” and an average target price of $64.17.

CG Oncology Price Performance

Shares of CGON stock opened at $37.00 on Tuesday. CG Oncology has a fifty-two week low of $25.77 and a fifty-two week high of $50.23. The stock’s 50-day simple moving average is $34.93 and its 200-day simple moving average is $35.40.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.14. The business had revenue of $0.11 million during the quarter. As a group, equities analysts predict that CG Oncology will post -1.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Hong Fang Song sold 650,455 shares of CG Oncology stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $35.36, for a total value of $23,000,088.80. Following the sale, the director now directly owns 586,982 shares of the company’s stock, valued at $20,755,683.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hedge Funds Weigh In On CG Oncology

Hedge funds and other institutional investors have recently modified their holdings of the business. Ameritas Investment Partners Inc. acquired a new stake in CG Oncology in the 1st quarter valued at about $102,000. California State Teachers Retirement System purchased a new position in CG Oncology during the first quarter worth approximately $103,000. Profund Advisors LLC purchased a new position in CG Oncology during the second quarter worth approximately $300,000. BNP Paribas Financial Markets acquired a new position in CG Oncology during the first quarter worth $492,000. Finally, Capstone Investment Advisors LLC purchased a new stake in CG Oncology in the 1st quarter valued at $806,000. 26.56% of the stock is owned by hedge funds and other institutional investors.

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.