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

Shares of CG Oncology, Inc. (NASDAQ:CGON) have been given a consensus recommendation of “Buy” by the ten ratings firms that are currently covering the stock, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $63.88.

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

CG Oncology Stock Down 0.7 %

Shares of CG Oncology stock opened at $30.29 on Friday. CG Oncology has a 1 year low of $25.77 and a 1 year high of $50.23. The stock has a fifty day moving average price of $30.81 and a 200-day moving average price of $34.06.

CG Oncology (NASDAQ:CGON) last announced its earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share (EPS) 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 firm had revenue of $0.04 million during the quarter, compared to analyst estimates of $0.30 million. As a group, equities research analysts expect that CG Oncology will post -1.31 EPS for the current year.

Insiders Place Their Bets

In other news, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $29.66, for a total transaction of $29,660.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Hong Fang Song sold 700,000 shares of CG Oncology stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $28.00, for a total value of $19,600,000.00. Following the sale, the director now owns 3,003,931 shares of the company’s stock, valued at approximately $84,110,068. This trade represents a 18.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 702,000 shares of company stock worth $19,664,200 in the last quarter.

Institutional Trading of CG Oncology

A number of large investors have recently modified their holdings of CGON. State Street Corp boosted its position in shares of CG Oncology by 73.0% during the 3rd 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. Point72 Asset Management L.P. boosted its position in shares of CG Oncology by 575.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 746,063 shares of the company’s stock valued at $28,149,000 after acquiring an additional 635,653 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of CG Oncology by 96.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,078,527 shares of the company’s stock valued at $40,701,000 after acquiring an additional 528,749 shares during the last quarter. Deerfield Management Company L.P. Series C boosted its position in shares of CG Oncology by 811.9% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 433,540 shares of the company’s stock valued at $13,687,000 after acquiring an additional 386,000 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of CG Oncology by 153.4% during the 3rd quarter. Wellington Management Group LLP now owns 510,219 shares of the company’s stock valued at $19,251,000 after acquiring an additional 308,852 shares during the last quarter. Institutional investors 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.