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

CG Oncology, Inc. (NASDAQ:CGON) has received an average rating of “Moderate Buy” from the fourteen analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $56.5455.

Several research firms recently commented on CGON. Wall Street Zen raised CG Oncology from a “sell” rating to a “hold” rating in a research note on Friday. Zacks Research raised shares of CG Oncology from a “strong sell” rating to a “hold” rating in a research note on Monday, September 1st. The Goldman Sachs Group raised CG Oncology to a “strong-buy” rating and set a $40.00 target price for the company in a research report on Thursday, July 10th. HC Wainwright reiterated a “buy” rating and issued a $75.00 price target on shares of CG Oncology in a report on Monday, September 15th. Finally, JPMorgan Chase & Co. lifted their price target on shares of CG Oncology from $41.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday, September 26th.

CG Oncology Stock Performance

Shares of NASDAQ CGON opened at $39.82 on Wednesday. The company’s 50 day moving average price is $30.60 and its 200-day moving average price is $26.72. CG Oncology has a 52-week low of $14.80 and a 52-week high of $40.65. The company has a market capitalization of $3.04 billion, a P/E ratio of -22.50 and a beta of 1.31.

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

Insider Buying and Selling

In related news, Director James Mulay sold 12,755 shares of the firm’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $39.19, for a total value of $499,868.45. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Leonard E. Post sold 5,000 shares of CG Oncology stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $40.09, for a total value of $200,450.00. The disclosure for this sale can be found here. Insiders have sold a total of 170,456 shares of company stock worth $5,308,111 over the last ninety days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CGON. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of CG Oncology by 15.6% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,945 shares of the company’s stock worth $77,000 after buying an additional 398 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of CG Oncology by 15.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,279 shares of the company’s stock worth $85,000 after buying an additional 433 shares during the last quarter. Invesco Ltd. grew its position in CG Oncology by 2.5% during the first quarter. Invesco Ltd. now owns 27,754 shares of the company’s stock valued at $680,000 after buying an additional 685 shares during the period. China Universal Asset Management Co. Ltd. increased its holdings in CG Oncology by 6.5% during the first quarter. China Universal Asset Management Co. Ltd. now owns 15,270 shares of the company’s stock worth $374,000 after buying an additional 930 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in CG Oncology by 0.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 258,090 shares of the company’s stock worth $6,321,000 after buying an additional 933 shares during the last quarter. 26.56% of the stock is currently owned by hedge funds and other institutional investors.

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.