CG Oncology, Inc. (NASDAQ:CGON) Receives $63.88 Consensus Target Price from Analysts

CG Oncology, Inc. (NASDAQ:CGON) has been given a consensus rating of “Buy” by the ten ratings firms that are covering the stock, Marketbeat reports. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $63.88.

CGON has been the subject of a number of analyst reports. UBS Group started coverage on shares of CG Oncology in a research note on Thursday, October 24th. They set a “buy” rating and a $60.00 price target for the company. HC Wainwright reiterated a “buy” rating and issued a $75.00 price target on shares of CG Oncology in a research report on Friday, January 10th. Royal Bank of Canada reissued an “outperform” rating and set a $66.00 price objective on shares of CG Oncology in a report on Friday, December 6th. TD Cowen initiated coverage on shares of CG Oncology in a report on Tuesday, January 7th. They issued a “buy” rating on the stock. Finally, Bank of America restated a “buy” rating and set a $65.00 price target on shares of CG Oncology in a research report on Tuesday, October 8th.

CG Oncology Stock Down 0.5 %

Shares of CGON stock opened at $30.15 on Friday. CG Oncology has a 1 year low of $25.77 and a 1 year high of $50.23. The firm’s fifty day simple moving average is $30.73 and its 200 day simple moving average is $34.00.

CG Oncology (NASDAQ:CGON) last posted 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. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. The company had revenue of $0.04 million for the quarter, compared to the consensus estimate of $0.30 million. On average, analysts anticipate that CG Oncology will post -1.31 earnings per share for the current year.

Insider Activity at CG Oncology

In other news, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction on Friday, December 6th. The shares were sold at an average price of $34.54, for a total transaction of $34,540.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Hong Fang Song sold 700,000 shares of the business’s stock in a transaction 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. This trade represents a 18.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 702,000 shares of company stock worth $19,664,200.

Institutional Investors Weigh In On CG Oncology

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Amalgamated Bank increased its holdings in CG Oncology by 107.6% during the 3rd quarter. Amalgamated Bank now owns 1,621 shares of the company’s stock worth $61,000 after purchasing an additional 840 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of CG Oncology by 2.2% during the fourth quarter. Rhumbline Advisers now owns 69,016 shares of the company’s stock worth $1,979,000 after buying an additional 1,458 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in CG Oncology in the 4th quarter valued at approximately $68,000. M&T Bank Corp lifted its stake in CG Oncology by 55.7% in the 3rd quarter. M&T Bank Corp now owns 16,758 shares of the company’s stock valued at $632,000 after acquiring an additional 5,996 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in CG Oncology during the 3rd quarter worth approximately $241,000. 26.56% of the stock is currently owned by institutional investors and hedge funds.

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.