CG Oncology, Inc. (NASDAQ:CGON) Receives $64.43 Average Target Price from Analysts

Shares of CG Oncology, Inc. (NASDAQ:CGON) have been given an average rating of “Buy” by the eight analysts that are covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $64.43.

Several research analysts have issued reports on the company. Royal Bank of Canada assumed coverage on CG Oncology in a research note on Monday, September 23rd. They set an “outperform” rating and a $66.00 price objective for the company. Roth Mkm assumed 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. HC Wainwright restated a “buy” rating and issued a $75.00 target price on shares of CG Oncology in a research note on Tuesday, September 17th. Roth Capital upgraded CG Oncology to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, Bank of America restated a “buy” rating and issued a $65.00 target price on shares of CG Oncology in a research note on Tuesday, October 8th.

CG Oncology Trading Down 0.9 %

CG Oncology stock opened at $36.44 on Wednesday. The stock has a fifty day moving average price of $36.31 and a two-hundred day moving average price of $34.94. CG Oncology has a 52-week low of $25.77 and a 52-week high of $50.23.

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

Insider Buying and Selling

In related news, Director Hong Fang Song sold 650,455 shares of CG Oncology stock in a transaction dated 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 completion of the sale, the director now directly owns 586,982 shares in the company, valued at $20,755,683.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hedge Funds Weigh In On CG Oncology

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

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.