TD Cowen Begins Coverage on CG Oncology (NASDAQ:CGON)

Investment analysts at TD Cowen began coverage on shares of CG Oncology (NASDAQ:CGON) in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The firm set a “buy” rating on the stock.

Other equities analysts also recently issued research reports about the stock. Bank of America reaffirmed a “buy” rating and set a $65.00 target price on shares of CG Oncology in a research note on Tuesday, October 8th. UBS Group started coverage on CG Oncology in a report on Thursday, October 24th. They issued a “buy” rating and a $60.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $66.00 target price on shares of CG Oncology in a research note on Friday, December 6th. Finally, HC Wainwright reiterated a “buy” rating and issued a $75.00 price target on shares of CG Oncology in a research note on Friday, December 6th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $63.88.

CG Oncology Price Performance

Shares of NASDAQ:CGON opened at $30.46 on Tuesday. CG Oncology has a 52-week low of $25.77 and a 52-week high of $50.23. The stock has a 50 day moving average price of $32.66 and a 200-day moving average price of $34.25.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.06. The business had revenue of $0.04 million during the quarter, compared to analyst estimates of $0.30 million. CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. On average, equities analysts anticipate that CG Oncology will post -1.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Hong Fang Song sold 700,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $28.00, for a total transaction of $19,600,000.00. Following the completion of the transaction, the director now directly owns 3,003,931 shares of the company’s stock, valued at $84,110,068. The trade was a 18.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Leonard E. Post sold 1,000 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $34.54, for a total transaction of $34,540.00. The disclosure for this sale can be found here.

Institutional Trading of CG Oncology

Several large investors have recently modified their holdings of the company. Amalgamated Bank lifted its holdings in CG Oncology by 107.6% in the third quarter. Amalgamated Bank now owns 1,621 shares of the company’s stock valued at $61,000 after acquiring an additional 840 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of CG Oncology during the 3rd quarter valued at about $241,000. Profund Advisors LLC bought a new position in shares of CG Oncology in the 2nd quarter worth approximately $300,000. HighVista Strategies LLC purchased a new position in shares of CG Oncology in the third quarter worth approximately $594,000. Finally, M&T Bank Corp grew its position in CG Oncology by 55.7% during the third quarter. M&T Bank Corp now owns 16,758 shares of the company’s stock valued at $632,000 after buying an additional 5,996 shares during the period. 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.