CG Oncology’s (CGON) Buy Rating Reiterated at Bank of America

Bank of America restated their buy rating on shares of CG Oncology (NASDAQ:CGON) in a research note released on Tuesday morning, Benzinga reports. Bank of America currently has a $65.00 price target on the stock.

Other research analysts also recently issued reports about the company. Royal Bank of Canada began coverage on CG Oncology in a research note on Monday, September 23rd. They issued an outperform rating and a $66.00 price objective on the stock. Roth Mkm assumed coverage on CG Oncology in a research report on Tuesday, August 27th. They issued a buy rating and a $65.00 price target on the stock. HC Wainwright reaffirmed a buy rating and issued a $75.00 price target on shares of CG Oncology in a research report on Tuesday, September 17th. Finally, Roth Capital raised CG Oncology to a strong-buy rating in a research report on Tuesday, August 27th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Buy and an average target price of $64.43.

CG Oncology Stock Up 4.7 %

CGON opened at $36.09 on Tuesday. CG Oncology has a fifty-two week low of $25.77 and a fifty-two week high of $50.23. The business has a 50-day moving average of $35.89 and a 200-day moving average of $35.09.

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

Insider Activity at CG Oncology

In related news, Director Hong Fang Song sold 650,455 shares of the business’s stock in a transaction 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 owns 586,982 shares of the company’s stock, valued at $20,755,683.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Hedge Funds Weigh In On CG Oncology

Institutional investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. bought a new position in CG Oncology in the 1st quarter valued at $102,000. California State Teachers Retirement System bought a new position in CG Oncology in the 1st quarter valued at $103,000. Profund Advisors LLC bought a new position in CG Oncology in the 2nd quarter valued at $300,000. BNP Paribas Financial Markets bought a new position in CG Oncology in the 1st quarter valued at $492,000. Finally, SG Americas Securities LLC bought a new position in CG Oncology in the 3rd quarter valued at $664,000. Institutional investors own 26.56% of the company’s stock.

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.