CG Oncology’s (CGON) Buy Rating Reaffirmed at HC Wainwright

CG Oncology (NASDAQ:CGON)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a report released on Friday,Benzinga reports. They currently have a $75.00 price target on the stock. HC Wainwright’s target price would indicate a potential upside of 149.25% from the company’s current price.

CGON has been the topic of a number of other reports. TD Cowen began coverage on shares of CG Oncology in a research report on Tuesday. They set a “buy” rating on the stock. Bank of America reaffirmed a “buy” rating and issued a $65.00 price target on shares of CG Oncology in a research note on Tuesday, October 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $66.00 price objective on shares of CG Oncology in a report on Friday, December 6th. Finally, UBS Group began coverage on CG Oncology in a research note on Thursday, October 24th. They issued a “buy” rating and a $60.00 target price on the stock. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, CG Oncology currently has a consensus rating of “Buy” and an average price target of $63.88.

CG Oncology Trading Down 1.2 %

NASDAQ CGON traded down $0.37 on Friday, hitting $30.09. 346,146 shares of the stock were exchanged, compared to its average volume of 651,253. The company’s 50-day moving average price is $32.56 and its two-hundred day moving average price is $34.23. CG Oncology has a 52-week low of $25.77 and a 52-week high of $50.23.

CG Oncology (NASDAQ:CGON) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.06. CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. The firm had revenue of $0.04 million for the quarter, compared to analyst estimates of $0.30 million. Equities analysts anticipate that CG Oncology will post -1.32 EPS for the current year.

Insider Transactions at CG Oncology

In related news, Director Hong Fang Song sold 700,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $28.00, for a total transaction of $19,600,000.00. Following the completion of the transaction, the director now owns 3,003,931 shares of the company’s stock, valued at approximately $84,110,068. The trade was a 18.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Leonard E. Post sold 1,000 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $34.54, for a total value of $34,540.00. The disclosure for this sale can be found here.

Institutional Investors Weigh In On CG Oncology

Several hedge funds have recently modified their holdings of the business. State Street Corp lifted its position in CG Oncology by 73.0% in the third quarter. State Street Corp now owns 1,700,653 shares of the company’s stock worth $64,166,000 after purchasing an additional 717,722 shares during the period. Ally Bridge Group NY LLC raised its stake in shares of CG Oncology by 50.5% in the 3rd quarter. Ally Bridge Group NY LLC now owns 263,266 shares of the company’s stock valued at $9,933,000 after buying an additional 88,390 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of CG Oncology by 114.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 379,664 shares of the company’s stock worth $14,325,000 after acquiring an additional 202,262 shares during the period. BNP Paribas Financial Markets boosted its position in shares of CG Oncology by 876.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 26,660 shares of the company’s stock valued at $1,006,000 after acquiring an additional 23,931 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C increased its stake in CG Oncology by 811.9% in the second quarter. Deerfield Management Company L.P. Series C now owns 433,540 shares of the company’s stock valued at $13,687,000 after acquiring an additional 386,000 shares during the period. 26.56% of the stock is owned by institutional investors.

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.