CG Oncology (NASDAQ:CGON) Receives “Buy” Rating from HC Wainwright

CG Oncology (NASDAQ:CGON)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $75.00 price target on the stock. HC Wainwright’s price target would indicate a potential upside of 240.14% from the stock’s current price.

Other analysts also recently issued research reports about the company. TD Cowen started coverage on CG Oncology in a research note on Tuesday, January 7th. They set a “buy” rating on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $66.00 target price on shares of CG Oncology in a research note on Friday, December 6th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $55.00 price target on shares of CG Oncology in a research note on Friday, March 7th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $63.88.

CG Oncology Stock Performance

NASDAQ:CGON opened at $22.05 on Monday. CG Oncology has a 52-week low of $21.93 and a 52-week high of $46.99. The firm has a market capitalization of $1.68 billion, a PE ratio of -15.53 and a beta of 1.60. The stock has a 50-day simple moving average of $27.66 and a two-hundred day simple moving average of $31.63.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings results on Tuesday, March 25th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.11). 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 $0.46 million for the quarter, compared to analysts’ expectations of $0.11 million. Equities analysts forecast that CG Oncology will post -1.31 earnings per share for the current fiscal year.

Insider Activity at CG Oncology

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $29.66, for a total value of $29,660.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 CGON. Decheng Capital LLC lifted its stake in CG Oncology by 16.3% in the fourth quarter. Decheng Capital LLC now owns 6,371,669 shares of the company’s stock worth $182,739,000 after acquiring an additional 892,859 shares during the period. Vanguard Group Inc. raised its stake in CG Oncology by 15.3% in the fourth quarter. Vanguard Group Inc. now owns 5,861,082 shares of the company’s stock worth $168,096,000 after buying an additional 779,730 shares in the last quarter. Braidwell LP lifted its holdings in CG Oncology by 3.5% during the fourth quarter. Braidwell LP now owns 3,283,317 shares of the company’s stock worth $94,166,000 after buying an additional 112,442 shares during the period. Foresite Capital Management VI LLC bought a new stake in CG Oncology during the 4th quarter valued at $63,712,000. Finally, Wellington Management Group LLP raised its position in shares of CG Oncology by 274.4% in the 4th quarter. Wellington Management Group LLP now owns 1,910,470 shares of the company’s stock worth $54,792,000 after acquiring an additional 1,400,251 shares in the last quarter. 26.56% of the stock is 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.