HC Wainwright Reaffirms “Buy” Rating for CG Oncology (NASDAQ:CGON)

CG Oncology (NASDAQ:CGON)‘s stock had its “buy” rating reiterated by HC Wainwright in a research report issued on Tuesday,Benzinga reports. They currently have a $75.00 target price on the stock. HC Wainwright’s price target suggests a potential upside of 182.59% from the company’s previous close.

Several other equities research analysts have also issued reports on the stock. TD Cowen initiated coverage on shares of CG Oncology in a research note on Tuesday, January 7th. They set a “buy” rating for the company. Royal Bank of Canada reissued an “outperform” rating and set a $66.00 price objective on shares of CG Oncology in a report on Friday, December 6th. Finally, Morgan Stanley restated an “overweight” rating and issued a $55.00 target price on shares of CG Oncology in a research note on Friday, March 7th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $63.88.

CG Oncology Price Performance

Shares of NASDAQ:CGON opened at $26.54 on Tuesday. The company’s 50-day moving average is $28.01 and its 200 day moving average is $31.97. CG Oncology has a fifty-two week low of $23.91 and a fifty-two week high of $46.99.

Insider Activity at CG Oncology

In other news, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $29.66, for a total transaction of $29,660.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Investors Weigh In On CG Oncology

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA raised its position in shares of CG Oncology by 4.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 279,945 shares of the company’s stock valued at $10,562,000 after buying an additional 13,158 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in CG Oncology by 114.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 379,664 shares of the company’s stock valued at $14,325,000 after purchasing an additional 202,262 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in CG Oncology by 21.3% during the third quarter. The Manufacturers Life Insurance Company now owns 73,149 shares of the company’s stock worth $2,760,000 after purchasing an additional 12,848 shares during the last quarter. FMR LLC lifted its stake in CG Oncology by 83,581.6% during the third quarter. FMR LLC now owns 145,606 shares of the company’s stock worth $5,494,000 after purchasing an additional 145,432 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of CG Oncology by 876.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 26,660 shares of the company’s stock worth $1,006,000 after purchasing an additional 23,931 shares in the last quarter. 26.56% of the stock is owned by hedge funds and other 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.