Bank of America Reaffirms Buy Rating for CG Oncology (NASDAQ:CGON)

Bank of America reissued their buy rating on shares of CG Oncology (NASDAQ:CGON) in a research note released on Tuesday, Benzinga reports. They currently have a $65.00 target price on the stock.

A number of other equities research analysts have also weighed in on the company. HC Wainwright reaffirmed a buy rating and issued a $75.00 price objective on shares of CG Oncology in a report on Tuesday, September 17th. Roth Mkm began coverage on CG Oncology in a report on Tuesday, August 27th. They issued a buy rating and a $65.00 price objective on the stock. Roth Capital raised CG Oncology to a strong-buy rating in a report on Tuesday, August 27th. 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 objective on the stock. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, CG Oncology presently has an average rating of Buy and a consensus target price of $64.43.

CG Oncology Stock Performance

Shares of CGON stock opened at $34.48 on Tuesday. CG Oncology has a 52-week low of $25.77 and a 52-week high of $50.23. The stock’s 50-day moving average price is $35.82 and its 200 day moving average price is $35.12.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.14. The company had revenue of $0.11 million during the quarter. As a group, equities research analysts anticipate that CG Oncology will post -1.47 EPS for the current year.

Insider Transactions at CG Oncology

In other news, Director Hong Fang Song sold 650,455 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 586,982 shares of the company’s stock, valued at $20,755,683.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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 purchased a new stake in CG Oncology in the 1st quarter valued at approximately $239,642,000. Vanguard Group Inc. purchased a new stake in CG Oncology in the 1st quarter valued at approximately $97,678,000. BVF Inc. IL purchased a new stake in CG Oncology in the 1st quarter valued at approximately $82,716,000. Yu Fan purchased a new stake in CG Oncology in the 2nd quarter valued at approximately $49,828,000. Finally, Janus Henderson Group PLC purchased a new stake in CG Oncology in the 1st quarter valued at approximately $66,757,000. Hedge funds and other institutional investors 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.