Scotiabank Begins Coverage on CG Oncology (NASDAQ:CGON)

Scotiabank assumed coverage on shares of CG Oncology (NASDAQ:CGON) in a report issued on Wednesday morning, Marketbeat.com reports. The brokerage issued a sector perform rating and a $23.00 target price on the stock.

A number of other equities analysts also recently weighed in on the company. TD Cowen started coverage on CG Oncology in a research report on Tuesday, January 7th. They set a “buy” rating on the stock. HC Wainwright reaffirmed a “buy” rating and set a $75.00 price objective on shares of CG Oncology in a research report on Monday, March 31st. Finally, Morgan Stanley reissued an “overweight” rating and issued a $55.00 price objective on shares of CG Oncology in a research report on Friday, March 7th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $59.33.

CG Oncology Stock Up 2.1 %

Shares of CG Oncology stock opened at $20.64 on Wednesday. The stock has a market cap of $1.57 billion, a P/E ratio of -14.54 and a beta of 1.24. CG Oncology has a 12-month low of $14.80 and a 12-month high of $46.99. The business’s 50 day moving average is $24.32 and its 200-day moving average is $29.81.

CG Oncology (NASDAQ:CGON) last posted its quarterly earnings results on Tuesday, March 25th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.11). CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. The firm had revenue of $0.46 million for the quarter, compared to the consensus estimate of $0.11 million. On average, sell-side analysts expect that CG Oncology will post -1.31 EPS for the current year.

Hedge Funds Weigh In On CG Oncology

A number of hedge funds have recently bought and sold shares of the business. State Street Corp grew its position in shares of CG Oncology by 73.0% during the 3rd quarter. State Street Corp now owns 1,700,653 shares of the company’s stock worth $64,166,000 after purchasing an additional 717,722 shares in the last quarter. Barclays PLC boosted its stake in shares of CG Oncology by 331.1% in the third quarter. Barclays PLC now owns 90,520 shares of the company’s stock valued at $3,416,000 after buying an additional 69,523 shares during the period. M&T Bank Corp grew its position in CG Oncology by 55.7% during the third quarter. M&T Bank Corp now owns 16,758 shares of the company’s stock worth $632,000 after buying an additional 5,996 shares in the last quarter. Geode Capital Management LLC increased its stake in CG Oncology by 96.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,078,527 shares of the company’s stock worth $40,701,000 after acquiring an additional 528,749 shares during the period. Finally, Franklin Resources Inc. raised its holdings in CG Oncology by 8.9% in the 3rd quarter. Franklin Resources Inc. now owns 1,230,193 shares of the company’s stock valued at $46,157,000 after acquiring an additional 100,106 shares in the last quarter. 26.56% of the stock is owned by 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.