CG Oncology, Inc. (NASDAQ:CGON) Receives Consensus Recommendation of “Buy” from Analysts

CG Oncology, Inc. (NASDAQ:CGON) has received an average recommendation of “Buy” from the ten research firms that are presently covering the company, MarketBeat Ratings reports. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $63.88.

Several research analysts have weighed in on CGON shares. Bank of America reissued a “buy” rating and set a $65.00 price objective on shares of CG Oncology in a report on Tuesday, October 8th. HC Wainwright reiterated a “buy” rating and issued a $75.00 price target on shares of CG Oncology in a research note on Friday, January 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $66.00 target price on shares of CG Oncology in a research report on Friday, December 6th. TD Cowen started coverage on CG Oncology in a report on Tuesday, January 7th. They issued a “buy” rating for the company. Finally, UBS Group began coverage on shares of CG Oncology in a report on Thursday, October 24th. They issued a “buy” rating and a $60.00 price objective for the company.

Insiders Place Their Bets

In other news, Director Hong Fang Song sold 700,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $28.00, for a total value of $19,600,000.00. Following the completion of the sale, the director now owns 3,003,931 shares of the company’s stock, valued at $84,110,068. This trade represents a 18.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $34.54, for a total value of $34,540.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 702,000 shares of company stock worth $19,664,200.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. State Street Corp lifted its stake in CG Oncology by 73.0% in the third quarter. State Street Corp now owns 1,700,653 shares of the company’s stock valued at $64,166,000 after acquiring an additional 717,722 shares during the last quarter. Ally Bridge Group NY LLC lifted its stake in shares of CG Oncology by 50.5% in the 3rd quarter. Ally Bridge Group NY LLC now owns 263,266 shares of the company’s stock valued at $9,933,000 after purchasing an additional 88,390 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in CG Oncology by 114.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 379,664 shares of the company’s stock worth $14,325,000 after purchasing an additional 202,262 shares in the last quarter. BNP Paribas Financial Markets increased its position in CG Oncology by 876.9% during the third quarter. BNP Paribas Financial Markets now owns 26,660 shares of the company’s stock worth $1,006,000 after buying an additional 23,931 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in CG Oncology by 59.1% during the third quarter. JPMorgan Chase & Co. now owns 31,071 shares of the company’s stock worth $1,172,000 after buying an additional 11,542 shares during the last quarter. 26.56% of the stock is owned by institutional investors and hedge funds.

CG Oncology Stock Down 0.5 %

Shares of NASDAQ CGON opened at $30.15 on Friday. CG Oncology has a 1-year low of $25.77 and a 1-year high of $50.23. The business has a 50-day moving average of $30.73 and a 200-day moving average of $34.00.

CG Oncology (NASDAQ:CGON) last announced its earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.06. CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. The company had revenue of $0.04 million during the quarter, compared to the consensus estimate of $0.30 million. Analysts anticipate that CG Oncology will post -1.31 EPS for the current fiscal year.

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.