CG Oncology (NASDAQ:CGON) Now Covered by TD Cowen

Analysts at TD Cowen initiated coverage on shares of CG Oncology (NASDAQ:CGON) in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. The firm set a “buy” rating on the stock.

Other research analysts have also recently issued reports about the stock. Royal Bank of Canada restated an “outperform” rating and issued a $66.00 price target on shares of CG Oncology in a report on Friday, December 6th. HC Wainwright reaffirmed a “buy” rating and set a $75.00 target price on shares of CG Oncology in a research report on Friday, December 6th. UBS Group initiated 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. Finally, Bank of America reissued a “buy” rating and issued a $65.00 price objective on shares of CG Oncology in a research note on Tuesday, October 8th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, CG Oncology has an average rating of “Buy” and a consensus target price of $63.88.

CG Oncology Stock Performance

Shares of NASDAQ:CGON opened at $29.72 on Tuesday. The business has a 50 day simple moving average of $32.88 and a two-hundred day simple moving average of $34.28. CG Oncology has a 1 year low of $25.77 and a 1 year high of $50.23.

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, beating analysts’ consensus estimates of ($0.36) by $0.06. CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. The company had revenue of $0.04 million during the quarter, compared to analysts’ expectations of $0.30 million. As a group, equities research analysts predict that CG Oncology will post -1.32 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Hong Fang Song sold 700,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $28.00, for a total value 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 approximately $84,110,068. The trade was a 18.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Leonard E. Post sold 1,000 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $34.54, for a total value of $34,540.00. The disclosure for this sale can be found here.

Institutional Trading of CG Oncology

A number of institutional investors have recently modified their holdings of CGON. Amalgamated Bank lifted its position in CG Oncology by 107.6% during the third quarter. Amalgamated Bank now owns 1,621 shares of the company’s stock valued at $61,000 after acquiring an additional 840 shares during the last quarter. Rhumbline Advisers increased its position in shares of CG Oncology by 13.0% during the second quarter. Rhumbline Advisers now owns 34,229 shares of the company’s stock worth $1,081,000 after purchasing an additional 3,940 shares in the last quarter. M&T Bank Corp lifted its holdings in shares of CG Oncology by 55.7% during the 3rd quarter. M&T Bank Corp now owns 16,758 shares of the company’s stock valued at $632,000 after purchasing an additional 5,996 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of CG Oncology in the 3rd quarter worth $241,000. Finally, Massachusetts Financial Services Co. MA grew its stake in CG Oncology by 2.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 266,787 shares of the company’s stock worth $8,422,000 after buying an additional 6,899 shares during the last quarter. 26.56% of the stock is currently owned by institutional investors.

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.