CG Oncology, Inc. (NASDAQ:CGON) Receives $64.17 Consensus Target Price from Analysts

Shares of CG Oncology, Inc. (NASDAQ:CGON) have received a consensus recommendation of “Buy” from the eight ratings firms that are presently covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $64.43.

Several brokerages have issued reports on CGON. HC Wainwright reaffirmed a “buy” rating and set a $75.00 price target on shares of CG Oncology in a research note on Tuesday, September 17th. Bank of America started coverage on CG Oncology in a research report on Friday, June 28th. They issued a “buy” rating and a $65.00 target price for the company. Roth Mkm started coverage on CG Oncology in a research note on Tuesday, August 27th. They issued a “buy” rating and a $65.00 target price for the company. Roth Capital raised shares of CG Oncology to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, Royal Bank of Canada initiated coverage on shares of CG Oncology in a report on Monday. They issued an “outperform” rating and a $66.00 price objective for the company.

Insider Buying and Selling at CG Oncology

In other news, Director Hong Fang Song sold 650,455 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $35.36, for a total transaction of $23,000,088.80. Following the completion of the sale, the director now owns 586,982 shares of the company’s stock, valued at $20,755,683.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CGON. Decheng Capital LLC purchased a new stake in CG Oncology in the 1st quarter worth approximately $239,642,000. Vanguard Group Inc. purchased a new stake in CG Oncology in the first quarter worth $97,678,000. BVF Inc. IL bought a new stake in CG Oncology in the first quarter valued at $82,716,000. Yu Fan purchased a new position in CG Oncology during the 2nd quarter valued at $49,828,000. Finally, Janus Henderson Group PLC purchased a new position in CG Oncology during the 1st quarter valued at $66,757,000. Hedge funds and other institutional investors own 26.56% of the company’s stock.

CG Oncology Stock Performance

Shares of NASDAQ CGON opened at $38.34 on Friday. The stock’s 50-day simple moving average is $35.32 and its two-hundred day simple moving average is $35.26. CG Oncology has a twelve month low of $25.77 and a twelve month high of $50.23.

CG Oncology (NASDAQ:CGON) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.14. The company had revenue of $0.11 million during the quarter. On average, equities analysts anticipate that CG Oncology will post -1.47 EPS for the current fiscal year.

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.