CG Oncology (NASDAQ:CGON) Coverage Initiated by Analysts at UBS Group

Research analysts at UBS Group assumed coverage on shares of CG Oncology (NASDAQ:CGON) in a report issued on Thursday, Briefing.com reports. The firm set a “buy” rating and a $60.00 price target on the stock. UBS Group’s price target points to a potential upside of 68.49% from the stock’s previous close.

Several other equities analysts have also recently commented on CGON. Royal Bank of Canada assumed coverage on shares of CG Oncology in a research report on Monday, September 23rd. They issued an “outperform” rating and a $66.00 price target for the company. Roth Mkm assumed coverage on CG Oncology in a research note on Tuesday, August 27th. They set a “buy” rating and a $65.00 target price for the company. HC Wainwright restated a “buy” rating and set a $75.00 price target on shares of CG Oncology in a report on Tuesday, September 17th. Bank of America reiterated a “buy” rating and issued a $65.00 price objective on shares of CG Oncology in a research note on Tuesday, October 8th. Finally, Roth Capital raised CG Oncology to a “strong-buy” rating in a research report on Tuesday, August 27th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $63.88.

CG Oncology Price Performance

CG Oncology stock opened at $35.61 on Thursday. The firm has a 50 day simple moving average of $36.56 and a 200-day simple moving average of $34.82. CG Oncology has a 1-year low of $25.77 and a 1-year high of $50.23.

CG Oncology (NASDAQ:CGON) last posted its earnings results on Thursday, August 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.14. The business had revenue of $0.11 million for the quarter. Equities analysts forecast that CG Oncology will post -1.47 EPS for the current year.

Insider Activity

In related news, Director Hong Fang Song sold 650,455 shares of the company’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 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Institutional Trading of CG Oncology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CGON. American International Group Inc. purchased a new position in shares of CG Oncology in the 1st quarter valued at $13,443,000. TimesSquare Capital Management LLC acquired a new position in CG Oncology in the first quarter valued at $9,837,000. Price T Rowe Associates Inc. MD purchased a new position in shares of CG Oncology during the first quarter worth about $43,555,000. BNP Paribas Financial Markets acquired a new stake in shares of CG Oncology during the first quarter worth about $492,000. Finally, Ensign Peak Advisors Inc purchased a new stake in shares of CG Oncology in the 2nd quarter valued at about $1,912,000. Institutional investors and hedge funds own 26.56% of the company’s stock.

About CG Oncology

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.