CG Oncology (NASDAQ:CGON) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of CG Oncology (NASDAQ:CGON) from a sell rating to a hold rating in a research report released on Friday morning.

Several other research analysts have also issued reports on CGON. Zacks Research upgraded shares of CG Oncology from a “strong sell” rating to a “hold” rating in a research note on Monday, September 1st. Jones Trading assumed coverage on shares of CG Oncology in a research note on Monday, September 8th. They set a “buy” rating and a $50.00 target price for the company. JPMorgan Chase & Co. boosted their price target on CG Oncology from $41.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, September 26th. HC Wainwright restated a “buy” rating and issued a $75.00 price target on shares of CG Oncology in a research note on Monday, September 15th. Finally, Royal Bank Of Canada lowered their price objective on CG Oncology from $68.00 to $53.00 and set an “outperform” rating for the company in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, CG Oncology currently has an average rating of “Moderate Buy” and a consensus price target of $56.55.

CG Oncology Stock Down 0.1%

CGON opened at $39.82 on Friday. The stock has a market cap of $3.04 billion, a PE ratio of -22.50 and a beta of 1.31. The business has a 50 day moving average of $30.60 and a 200-day moving average of $26.72. CG Oncology has a 52 week low of $14.80 and a 52 week high of $40.65.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings results on Friday, August 8th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate 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%. Equities analysts anticipate that CG Oncology will post -1.31 EPS for the current year.

Insider Buying and Selling

In other CG Oncology news, Director Hong Fang Song sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were 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 directly owned 2,903,931 shares of the company’s stock, valued at approximately $80,729,281.80. This represents a 3.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Mulay sold 27,015 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $31.53, for a total transaction of $851,782.95. The disclosure for this sale can be found here. Insiders have sold a total of 170,456 shares of company stock valued at $5,308,111 in the last 90 days.

Institutional Trading of CG Oncology

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Squarepoint Ops LLC purchased a new position in shares of CG Oncology during the 4th quarter valued at about $313,000. California State Teachers Retirement System lifted its holdings in CG Oncology by 115.3% during the fourth quarter. California State Teachers Retirement System now owns 38,768 shares of the company’s stock valued at $1,112,000 after purchasing an additional 20,763 shares in the last quarter. GAMMA Investing LLC lifted its holdings in CG Oncology by 1,051.0% during the first quarter. GAMMA Investing LLC now owns 2,302 shares of the company’s stock valued at $56,000 after purchasing an additional 2,102 shares in the last quarter. Rhumbline Advisers boosted its position in shares of CG Oncology by 8.2% in the first quarter. Rhumbline Advisers now owns 74,689 shares of the company’s stock worth $1,829,000 after purchasing an additional 5,673 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of CG Oncology by 8.8% in the first quarter. Bank of New York Mellon Corp now owns 147,560 shares of the company’s stock worth $3,614,000 after purchasing an additional 11,993 shares in the last quarter. Hedge funds and other 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.