CG Oncology, Inc. (NASDAQ:CGON) Receives $63.88 Average Price Target from Brokerages

CG Oncology, Inc. (NASDAQ:CGON) has received an average recommendation of “Buy” from the nine research firms that are presently covering the firm, Marketbeat reports. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $63.88.

Several research firms have commented on CGON. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $66.00 target price on shares of CG Oncology in a research note on Friday. Bank of America reiterated a “buy” rating and set a $65.00 target price on shares of CG Oncology in a research report on Tuesday, October 8th. UBS Group started 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. Roth Capital raised shares of CG Oncology to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, Roth Mkm began coverage on shares of CG Oncology in a research report on Tuesday, August 27th. They set a “buy” rating and a $65.00 price target for the company.

Insider Activity at CG Oncology

In other news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $34.54, for a total value of $34,540.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Hedge Funds Weigh In On CG Oncology

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp increased its position in shares of CG Oncology by 73.0% during the third quarter. State Street Corp now owns 1,700,653 shares of the company’s stock worth $64,166,000 after acquiring an additional 717,722 shares during the last quarter. Yu Fan acquired a new stake in CG Oncology during the 2nd quarter valued at approximately $49,828,000. Janus Henderson Group PLC increased its holdings in CG Oncology by 7.0% during the 3rd quarter. Janus Henderson Group PLC now owns 1,526,534 shares of the company’s stock worth $57,596,000 after purchasing an additional 99,517 shares during the last quarter. Franklin Resources Inc. raised its position in shares of CG Oncology by 8.9% in the 3rd quarter. Franklin Resources Inc. now owns 1,230,193 shares of the company’s stock valued at $46,157,000 after purchasing an additional 100,106 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of CG Oncology by 96.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,078,527 shares of the company’s stock valued at $40,701,000 after buying an additional 528,749 shares during the last quarter. Hedge funds and other institutional investors own 26.56% of the company’s stock.

CG Oncology Stock Performance

Shares of CG Oncology stock opened at $34.59 on Thursday. CG Oncology has a 1 year low of $25.77 and a 1 year high of $50.23. The business has a 50 day moving average price of $35.78 and a 200 day moving average price of $34.92.

CG Oncology (NASDAQ:CGON) last released its earnings results 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. The company had revenue of $0.04 million for the quarter, compared to analyst estimates of $0.30 million. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. On average, analysts anticipate that CG Oncology will post -1.31 EPS for the current year.

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.