CG Oncology, Inc. (NASDAQ:CGON) Given Average Rating of “Buy” by Brokerages

Shares of CG Oncology, Inc. (NASDAQ:CGON) have been assigned an average recommendation of “Buy” from the nine ratings firms that are currently covering the stock, Marketbeat reports. Eight investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $63.88.

A number of research analysts recently commented on the company. Roth Capital upgraded CG Oncology to a “strong-buy” rating in a report on Tuesday, August 27th. Bank of America restated a “buy” rating and issued a $65.00 target price on shares of CG Oncology in a research report on Tuesday, October 8th. Royal Bank of Canada assumed coverage on CG Oncology in a report on Monday, September 23rd. They set an “outperform” rating and a $66.00 price target for the company. Roth Mkm began coverage on shares of CG Oncology in a report on Tuesday, August 27th. They issued a “buy” rating and a $65.00 price objective on the stock. Finally, UBS Group assumed coverage on shares of CG Oncology in a research note on Thursday, October 24th. They set a “buy” rating and a $60.00 target price for the company.

Insiders Place Their Bets

In other 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 transaction, the director now owns 586,982 shares in the company, valued at approximately $20,755,683.52. This trade represents a 52.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Institutional Trading of CG Oncology

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

CG Oncology Stock Performance

Shares of NASDAQ:CGON opened at $35.50 on Friday. CG Oncology has a 52-week low of $25.77 and a 52-week high of $50.23. The business has a fifty day moving average of $36.80 and a two-hundred day moving average of $34.80.

CG Oncology (NASDAQ:CGON) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.06. The firm had revenue of $0.04 million for the quarter, compared to analyst estimates of $0.30 million. On average, analysts expect that CG Oncology will post -1.45 EPS for the current fiscal year.

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.