CG Oncology (NASDAQ:CGON) Price Target Raised to $47.00

CG Oncology (NASDAQ:CGON) had its price target upped by JPMorgan Chase & Co. from $41.00 to $47.00 in a research report report published on Friday,Benzinga reports. They currently have an overweight rating on the stock.

CGON has been the topic of a number of other research reports. Morgan Stanley boosted their price target on CG Oncology from $56.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 17th. Jones Trading initiated coverage on CG Oncology in a research note on Monday, September 8th. They set a “buy” rating and a $50.00 price target on the stock. Zacks Research upgraded CG Oncology from a “strong sell” rating to a “hold” rating in a research note on Monday, September 1st. Royal Bank Of Canada dropped their price target on CG Oncology from $68.00 to $53.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 16th. Finally, The Goldman Sachs Group upgraded CG Oncology to a “strong-buy” rating and set a $40.00 price target on the stock in a research note on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, CG Oncology currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.55.

CG Oncology Price Performance

CGON opened at $37.54 on Friday. The business’s 50-day moving average is $29.26 and its two-hundred day moving average is $26.30. CG Oncology has a 1 year low of $14.80 and a 1 year high of $40.47. The firm has a market capitalization of $2.86 billion, a PE ratio of -21.21 and a beta of 0.87.

CG Oncology (NASDAQ:CGON) last posted its earnings results on Friday, August 8th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.05). CG Oncology had a negative net margin of 15,945.17% and a negative return on equity of 19.37%. As a group, sell-side analysts expect that CG Oncology will post -1.31 EPS for the current year.

Insider Activity

In related news, Director Hong Fang Song sold 100,000 shares of CG Oncology stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $27.80, for a total transaction of $2,780,000.00. Following the completion of the sale, the director owned 2,903,931 shares of the company’s stock, valued at $80,729,281.80. The trade was a 3.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $35.10, for a total value of $35,100.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 152,701 shares of company stock valued at $4,607,792.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CGON. Winthrop Capital Management LLC acquired a new position in CG Oncology in the second quarter valued at approximately $38,000. CWM LLC lifted its holdings in CG Oncology by 3,957.7% in the first quarter. CWM LLC now owns 2,110 shares of the company’s stock valued at $52,000 after acquiring an additional 2,058 shares during the period. GAMMA Investing LLC lifted its holdings in CG Oncology by 1,051.0% in the first quarter. GAMMA Investing LLC now owns 2,302 shares of the company’s stock valued at $56,000 after acquiring an additional 2,102 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in CG Oncology by 15.6% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,945 shares of the company’s stock valued at $77,000 after acquiring an additional 398 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in CG Oncology by 15.2% in the second quarter. PNC Financial Services Group Inc. now owns 3,279 shares of the company’s stock valued at $85,000 after acquiring an additional 433 shares during the period. 26.56% of the stock is owned by institutional investors and hedge funds.

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.