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

CG Oncology (NASDAQ:CGON)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research report issued on Tuesday,Benzinga reports. They presently have a $75.00 target price on the stock. HC Wainwright’s price objective would suggest a potential upside of 113.37% from the company’s current price.

Several other equities research analysts have also weighed in on the company. Roth Capital raised CG Oncology to a “strong-buy” rating in a research note on Tuesday, August 27th. Bank of America reaffirmed a “buy” rating and issued a $65.00 price target on shares of CG Oncology in a research report on Tuesday, October 8th. Roth Mkm initiated coverage on CG Oncology in a research report on Tuesday, August 27th. They set a “buy” rating and a $65.00 price objective for the company. UBS Group initiated coverage on CG Oncology in a report on Thursday, October 24th. They issued a “buy” rating and a $60.00 price target for the company. Finally, Royal Bank of Canada began coverage on CG Oncology in a report on Monday, September 23rd. They issued an “outperform” rating and a $66.00 price target for the company. Eight 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.com, the company presently has an average rating of “Buy” and an average target price of $63.88.

CG Oncology Trading Down 4.9 %

Shares of CG Oncology stock opened at $35.15 on Tuesday. CG Oncology has a twelve month low of $25.77 and a twelve month high of $50.23. The business’s 50 day simple moving average is $36.84 and its 200-day simple moving average is $34.80.

CG Oncology (NASDAQ:CGON) last posted its earnings results on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.06. The business had revenue of $0.04 million during the quarter, compared to analyst estimates of $0.30 million. Research analysts anticipate that CG Oncology will post -1.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CG Oncology news, Director Hong Fang Song sold 650,455 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $35.36, for a total transaction of $23,000,088.80. Following the transaction, the director now owns 586,982 shares of the company’s stock, valued at approximately $20,755,683.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CGON. American International Group Inc. bought a new position in CG Oncology during the 1st quarter worth about $13,443,000. Price T Rowe Associates Inc. MD acquired a new position in shares of CG Oncology in the first quarter valued at approximately $43,555,000. BNP Paribas Financial Markets acquired a new stake in CG Oncology during the first quarter worth approximately $492,000. Deerfield Management Company L.P. Series C grew its position in CG Oncology by 811.9% during the second quarter. Deerfield Management Company L.P. Series C now owns 433,540 shares of the company’s stock worth $13,687,000 after buying an additional 386,000 shares in the last quarter. Finally, Ensign Peak Advisors Inc acquired a new stake in shares of CG Oncology in the 2nd quarter valued at $1,912,000. Institutional investors and hedge funds 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.