CG Oncology (NASDAQ:CGON) Coverage Initiated at Royal Bank of Canada

Royal Bank of Canada assumed coverage on shares of CG Oncology (NASDAQ:CGON) in a research note released on Monday, MarketBeat reports. The brokerage issued an outperform rating and a $66.00 price target on the stock.

A number of other analysts have also commented on CGON. Bank of America began coverage on CG Oncology in a report on Friday, June 28th. They issued a buy rating and a $65.00 price target on the stock. HC Wainwright restated a buy rating and issued a $75.00 target price on shares of CG Oncology in a research note on Tuesday, September 17th. Roth Mkm started coverage on shares of CG Oncology in a research note on Tuesday, August 27th. They set a buy rating and a $65.00 price target for the company. Finally, Roth Capital raised shares of CG Oncology to a strong-buy rating in a research report on Tuesday, August 27th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Buy and a consensus price target of $64.43.

CG Oncology Price Performance

NASDAQ CGON opened at $36.78 on Monday. CG Oncology has a 52-week low of $25.77 and a 52-week high of $50.23. The business has a 50 day simple moving average of $35.26 and a 200 day simple moving average of $35.29.

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

Insider Transactions at CG Oncology

In related news, Director Hong Fang Song sold 650,455 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $35.36, for a total value of $23,000,088.80. Following the completion of the transaction, the director now directly owns 586,982 shares of the company’s stock, valued at $20,755,683.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Institutional Trading of CG Oncology

A number of large investors have recently added to or reduced their stakes in the company. Decheng Capital LLC bought a new stake in shares of CG Oncology in the 1st quarter valued at about $239,642,000. Vanguard Group Inc. acquired a new position in CG Oncology during the first quarter worth approximately $97,678,000. BVF Inc. IL bought a new stake in CG Oncology in the first quarter valued at approximately $82,716,000. Yu Fan acquired a new stake in shares of CG Oncology in the second quarter valued at approximately $49,828,000. Finally, Janus Henderson Group PLC bought a new position in shares of CG Oncology during the 1st quarter worth approximately $66,757,000. 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.