CG Oncology, Inc. (NASDAQ:CGON) Receives $55.30 Average Price Target from Analysts

Shares of CG Oncology, Inc. (NASDAQ:CGON) have earned a consensus recommendation of “Buy” from the twelve ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, nine have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $55.30.

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. began coverage on shares of CG Oncology in a report on Friday, May 2nd. They issued an “overweight” rating and a $41.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $75.00 price target on shares of CG Oncology in a research report on Monday, April 28th. Royal Bank Of Canada dropped their price objective on shares of CG Oncology from $68.00 to $53.00 and set an “outperform” rating for the company in a report on Wednesday, July 16th. The Goldman Sachs Group upgraded shares of CG Oncology to a “strong-buy” rating and set a $40.00 target price for the company in a research note on Thursday, July 10th. Finally, Wall Street Zen lowered CG Oncology from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th.

Insider Buying and Selling at CG Oncology

In related news, Director Leonard E. Post sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $28.00, for a total value of $56,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 7.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CG Oncology

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN raised its stake in shares of CG Oncology by 45.3% during the fourth quarter. Wells Fargo & Company MN now owns 28,234 shares of the company’s stock worth $810,000 after buying an additional 8,803 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in CG Oncology by 443.5% during the 4th quarter. JPMorgan Chase & Co. now owns 168,866 shares of the company’s stock worth $4,843,000 after acquiring an additional 137,795 shares during the period. Deutsche Bank AG raised its position in shares of CG Oncology by 53.5% during the 4th quarter. Deutsche Bank AG now owns 38,978 shares of the company’s stock valued at $1,118,000 after acquiring an additional 13,589 shares during the last quarter. Rhumbline Advisers raised its position in shares of CG Oncology by 8.2% during the 1st quarter. Rhumbline Advisers now owns 74,689 shares of the company’s stock valued at $1,829,000 after acquiring an additional 5,673 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of CG Oncology by 1,051.0% in the 1st quarter. GAMMA Investing LLC now owns 2,302 shares of the company’s stock valued at $56,000 after purchasing an additional 2,102 shares during the period. 26.56% of the stock is owned by institutional investors and hedge funds.

CG Oncology Trading Down 2.0%

Shares of CGON opened at $25.96 on Tuesday. The stock has a market cap of $1.98 billion, a PE ratio of -14.67 and a beta of 0.87. CG Oncology has a 1 year low of $14.80 and a 1 year high of $40.47. The stock has a 50 day simple moving average of $26.19 and a 200-day simple moving average of $25.54.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings results on Friday, August 8th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.05). CG Oncology had a negative net margin of 15,945.17% and a negative return on equity of 19.37%. On average, sell-side analysts forecast that CG Oncology will post -1.31 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.