CG Oncology, Inc. (NASDAQ:CGON) Given Consensus Recommendation of “Buy” by Analysts

Shares of CG Oncology, Inc. (NASDAQ:CGON) have received a consensus recommendation of “Buy” from the nine ratings firms that are currently covering the company, MarketBeat.com reports. Eight equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $63.88.

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

CG Oncology Stock Performance

NASDAQ CGON opened at $30.52 on Monday. The stock’s 50 day moving average is $33.03 and its 200 day moving average is $34.30. CG Oncology has a twelve month low of $25.77 and a twelve month high of $50.23.

CG Oncology (NASDAQ:CGON) last released its earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $0.04 million for the quarter, compared to the consensus estimate of $0.30 million. As a group, equities analysts predict that CG Oncology will post -1.32 EPS for the current year.

Insider Buying and Selling at CG Oncology

In related news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction that occurred 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 filing with the SEC, which is available at the SEC website. Also, Director Hong Fang Song sold 700,000 shares of CG Oncology stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $28.00, for a total transaction of $19,600,000.00. Following the completion of the sale, the director now directly owns 3,003,931 shares of the company’s stock, valued at approximately $84,110,068. This trade represents a 18.90 % decrease in their position. The disclosure for this sale can be found here.

Institutional Trading of CG Oncology

A number of hedge funds have recently bought and sold shares of CGON. Amalgamated Bank grew its stake in shares of CG Oncology by 107.6% during the 3rd quarter. Amalgamated Bank now owns 1,621 shares of the company’s stock valued at $61,000 after purchasing an additional 840 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of CG Oncology in the third quarter worth approximately $241,000. Profund Advisors LLC purchased a new position in shares of CG Oncology in the second quarter worth approximately $300,000. HighVista Strategies LLC bought a new stake in CG Oncology during the third quarter valued at approximately $594,000. Finally, M&T Bank Corp increased its holdings in CG Oncology by 55.7% during the third quarter. M&T Bank Corp now owns 16,758 shares of the company’s stock valued at $632,000 after buying an additional 5,996 shares during the last quarter. Hedge funds and other institutional investors own 26.56% of the company’s stock.

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.