CG Oncology (NASDAQ:CGON) Now Covered by UBS Group

Equities research analysts at UBS Group started coverage on shares of CG Oncology (NASDAQ:CGON) in a note issued to investors on Thursday, Marketbeat reports. The brokerage set a “buy” rating and a $60.00 price target on the stock. UBS Group’s target price indicates a potential upside of 64.93% from the stock’s current price.

CGON has been the topic of several other research reports. Royal Bank of Canada started coverage on CG Oncology in a research report on Monday, September 23rd. They issued an “outperform” rating and a $66.00 price objective on the stock. Roth Capital upgraded shares of CG Oncology to a “strong-buy” rating in a research report on Tuesday, August 27th. HC Wainwright reaffirmed a “buy” rating and issued a $75.00 price objective on shares of CG Oncology in a report on Tuesday, September 17th. Bank of America restated a “buy” rating and set a $65.00 target price on shares of CG Oncology in a research report on Tuesday, October 8th. Finally, Roth Mkm initiated coverage on CG Oncology in a research note on Tuesday, August 27th. They issued a “buy” rating and a $65.00 price target for the company. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $63.88.

CG Oncology Stock Performance

NASDAQ CGON opened at $36.38 on Thursday. CG Oncology has a 1 year low of $25.77 and a 1 year high of $50.23. The company has a fifty day moving average of $36.64 and a 200 day moving average of $34.81.

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

Insider Activity at CG Oncology

In other CG Oncology news, Director Hong Fang Song sold 650,455 shares of the business’s 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 directly owns 586,982 shares in the company, valued at approximately $20,755,683.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Investors Weigh In On CG Oncology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in shares of CG Oncology in the third quarter worth about $664,000. Deerfield Management Company L.P. Series C lifted its stake in CG Oncology by 811.9% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 433,540 shares of the company’s stock worth $13,687,000 after purchasing an additional 386,000 shares in the last quarter. Marshall Wace LLP purchased a new position in CG Oncology in the 2nd quarter worth approximately $2,399,000. Yu Fan acquired a new position in shares of CG Oncology during the 2nd quarter worth approximately $49,828,000. Finally, Profund Advisors LLC acquired a new stake in shares of CG Oncology in the second quarter valued at approximately $300,000. Institutional investors and hedge funds 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.