CG Oncology (NASDAQ:CGON) Now Covered by Royal Bank of Canada

Investment analysts at Royal Bank of Canada began coverage on shares of CG Oncology (NASDAQ:CGON) in a research note issued on Monday, Briefing.com reports. The firm set an “outperform” rating and a $66.00 price target on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 69.23% from the company’s current price.

A number of other equities research analysts have also weighed in on the stock. Roth Mkm initiated coverage on shares of CG Oncology in a report on Tuesday, August 27th. They set a “buy” rating and a $65.00 price objective for the company. HC Wainwright reiterated a “buy” rating and issued a $75.00 price target on shares of CG Oncology in a report on Tuesday, September 17th. Bank of America assumed coverage on CG Oncology in a report on Friday, June 28th. They set a “buy” rating and a $65.00 price objective on the stock. Finally, Roth Capital upgraded CG Oncology to a “strong-buy” rating in a report on Tuesday, August 27th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $64.43.

CG Oncology Trading Down 0.3 %

Shares of NASDAQ:CGON opened at $39.00 on Monday. CG Oncology has a 12 month low of $25.77 and a 12 month high of $50.23. The firm’s 50-day moving average is $35.29 and its 200 day moving average is $35.27.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.14. The business had revenue of $0.11 million for the quarter. Sell-side analysts anticipate that CG Oncology will post -1.47 earnings per share for the current year.

Insider Buying and Selling at CG Oncology

In other CG Oncology news, Director Hong Fang Song sold 650,455 shares of the stock in a transaction dated Thursday, August 29th. The shares were 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 directly 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 this link.

Hedge Funds Weigh In On CG Oncology

Institutional investors and hedge funds have recently bought and sold shares of the company. Ameritas Investment Partners Inc. acquired a new stake in shares of CG Oncology in the 1st quarter worth $102,000. California State Teachers Retirement System purchased a new stake in shares of CG Oncology during the first quarter worth about $103,000. Rhumbline Advisers increased its holdings in shares of CG Oncology by 13.0% during the second quarter. Rhumbline Advisers now owns 34,229 shares of the company’s stock valued at $1,081,000 after acquiring an additional 3,940 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of CG Oncology by 2.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 266,787 shares of the company’s stock valued at $8,422,000 after purchasing an additional 6,899 shares during the last quarter. Finally, Profund Advisors LLC acquired a new stake in CG Oncology in the 2nd quarter worth approximately $300,000. 26.56% of the stock is owned by hedge funds and other institutional investors.

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.