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

HC Wainwright reiterated their buy rating on shares of CG Oncology (NASDAQ:CGON) in a report released on Tuesday, Benzinga reports. The brokerage currently has a $75.00 price objective on the stock.

Several other research analysts have also recently weighed in on CGON. Roth Mkm initiated coverage on shares of CG Oncology in a report on Tuesday, August 27th. They set a buy rating and a $65.00 price objective for the company. Bank of America started coverage on shares of CG Oncology in a research note on Friday, June 28th. They set a buy rating and a $65.00 target price for the company. Finally, Roth Capital upgraded CG Oncology to a strong-buy rating in a research note on Tuesday, August 27th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Buy and an average target price of $64.17.

CG Oncology Price Performance

CG Oncology stock opened at $39.00 on Tuesday. CG Oncology has a 12 month low of $25.77 and a 12 month high of $50.23. The stock has a fifty day simple moving average of $35.29 and a two-hundred day simple moving average of $35.37.

CG Oncology (NASDAQ:CGON) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.14. The business had revenue of $0.11 million during the quarter. Analysts expect that CG Oncology will post -1.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other 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 value of $23,000,088.80. Following the completion of the sale, the director now directly owns 586,982 shares in the company, valued at approximately $20,755,683.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. purchased a new position in CG Oncology during the first quarter valued at approximately $102,000. California State Teachers Retirement System bought a new stake in shares of CG Oncology during the 1st quarter valued at $103,000. Profund Advisors LLC purchased a new position in shares of CG Oncology during the 2nd quarter valued at $300,000. BNP Paribas Financial Markets bought a new position in CG Oncology in the 1st quarter worth $492,000. Finally, Capstone Investment Advisors LLC purchased a new stake in CG Oncology in the 1st quarter worth $806,000. 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.