CG Oncology (NASDAQ:CGON) Earns Buy Rating from Analysts at UBS Group

UBS Group initiated coverage on shares of CG Oncology (NASDAQ:CGON) in a report published on Thursday morning, MarketBeat reports. The brokerage issued a buy rating and a $60.00 target price on the stock.

Several other research firms have also recently weighed in on CGON. Royal Bank of Canada started coverage on shares of CG Oncology in a research report on Monday, September 23rd. They set an “outperform” rating and a $66.00 price objective on the stock. Roth Mkm initiated coverage on CG Oncology in a research note on Tuesday, August 27th. They set a “buy” rating and a $65.00 price target for the company. HC Wainwright reiterated a “buy” rating and set a $75.00 price objective on shares of CG Oncology in a research report on Tuesday, September 17th. Roth Capital raised CG Oncology to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, Bank of America reissued a “buy” rating and set a $65.00 price target on shares of CG Oncology in a research note on Tuesday, October 8th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $63.88.

CG Oncology Stock Up 1.2 %

CG Oncology stock opened at $36.90 on Thursday. CG Oncology has a fifty-two week low of $25.77 and a fifty-two week high of $50.23. The firm’s fifty day moving average price is $36.60 and its 200-day moving average price is $34.83.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.14. The business had revenue of $0.11 million for the quarter. On average, sell-side analysts expect that CG Oncology will post -1.47 earnings per share for the current year.

Insider Buying and Selling at CG Oncology

In related news, Director Hong Fang Song sold 650,455 shares of CG Oncology stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $35.36, for a total value of $23,000,088.80. Following the transaction, the director now directly owns 586,982 shares of the company’s stock, valued at $20,755,683.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Institutional Trading of CG Oncology

Several large investors have recently modified their holdings of the business. BNP Paribas Financial Markets bought a new position in CG Oncology during the 1st quarter valued at approximately $492,000. Capstone Investment Advisors LLC purchased a new stake in shares of CG Oncology in the 1st quarter worth about $806,000. TimesSquare Capital Management LLC purchased a new stake in shares of CG Oncology in the 1st quarter worth approximately $9,837,000. Vanguard Group Inc. bought a new position in CG Oncology during the 1st quarter valued at approximately $97,678,000. Finally, Ameritas Investment Partners Inc. purchased a new position in CG Oncology during the first quarter valued at $102,000. 26.56% of the stock is owned by 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.