CG Oncology (NASDAQ:CGON) Coverage Initiated at Royal Bank of Canada

Royal Bank of Canada assumed coverage on shares of CG Oncology (NASDAQ:CGON) in a report issued on Monday, MarketBeat.com reports. The firm set an “outperform” rating and a $66.00 price target on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 80.72% from the company’s current price.

A number of other brokerages also recently weighed in on CGON. Roth Mkm started coverage on shares of CG Oncology in a research report on Tuesday, August 27th. They set a “buy” rating and a $65.00 price objective on the stock. Roth Capital raised CG Oncology to a “strong-buy” rating in a report on Tuesday, August 27th. Bank of America initiated coverage on CG Oncology in a report on Friday, June 28th. They issued a “buy” rating and a $65.00 price objective for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $75.00 target price on shares of CG Oncology in a research report on Tuesday, September 17th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $64.43.

CG Oncology Trading Down 4.7 %

CGON stock opened at $36.52 on Monday. CG Oncology has a fifty-two week low of $25.77 and a fifty-two week high of $50.23. The business’s 50 day moving average price is $35.30 and its two-hundred day moving average price is $35.27.

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

Insider Buying and Selling at CG Oncology

In other news, Director Hong Fang Song sold 650,455 shares of CG Oncology stock in a transaction that occurred on Thursday, August 29th. The shares were 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 owns 586,982 shares of the company’s stock, valued at $20,755,683.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Trading of CG Oncology

Institutional investors and hedge funds have recently made changes to their positions in the company. Ameritas Investment Partners Inc. bought a new stake in shares of CG Oncology in the 1st quarter valued at about $102,000. California State Teachers Retirement System purchased a new stake in CG Oncology during the first quarter worth $103,000. Profund Advisors LLC bought a new stake in CG Oncology during the 2nd quarter valued at $300,000. BNP Paribas Financial Markets purchased a new position in shares of CG Oncology in the 1st quarter valued at $492,000. Finally, Capstone Investment Advisors LLC acquired a new stake in CG Oncology in the first quarter valued at approximately $806,000. 26.56% of the stock is currently 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.