CG Oncology, Inc. (NASDAQ:CGON) Receives $63.88 Consensus Price Target from Analysts

CG Oncology, Inc. (NASDAQ:CGON) has earned a consensus rating of “Buy” from the nine ratings firms that are covering the company, Marketbeat reports. Eight investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $63.88.

Several research firms recently commented on CGON. Royal Bank of Canada started coverage on CG Oncology in a research report on Monday, September 23rd. They issued an “outperform” rating and a $66.00 price target for the company. Bank of America reiterated a “buy” rating and issued a $65.00 target price on shares of CG Oncology in a report on Tuesday, October 8th. Roth Capital upgraded CG Oncology to a “strong-buy” rating in a report on Tuesday, August 27th. UBS Group assumed coverage on shares of CG Oncology in a research report on Thursday, October 24th. They set a “buy” rating and a $60.00 price objective on the stock. Finally, Roth Mkm started coverage on shares of CG Oncology in a report on Tuesday, August 27th. They issued a “buy” rating and a $65.00 target price for the company.

CG Oncology Stock Down 7.3 %

NASDAQ:CGON opened at $32.90 on Friday. CG Oncology has a 1 year low of $25.77 and a 1 year high of $50.23. The stock’s 50 day simple moving average is $36.70 and its two-hundred day simple moving average is $34.69.

CG Oncology (NASDAQ:CGON) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.06. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. The company had revenue of $0.04 million for the quarter, compared to the consensus estimate of $0.30 million. Analysts expect that CG Oncology will post -1.45 EPS for the current year.

Insider Transactions at CG Oncology

In other news, Director Hong Fang Song sold 650,455 shares of CG Oncology stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $35.36, for a total transaction of $23,000,088.80. Following the completion of the sale, the director now owns 586,982 shares of the company’s stock, valued at approximately $20,755,683.52. The trade was a 52.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CGON. Amalgamated Bank grew its position in shares of CG Oncology by 107.6% during the 3rd quarter. Amalgamated Bank now owns 1,621 shares of the company’s stock worth $61,000 after buying an additional 840 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in CG Oncology during the 1st quarter valued at about $102,000. California State Teachers Retirement System bought a new stake in shares of CG Oncology in the 1st quarter valued at about $103,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of CG Oncology in the 3rd quarter worth approximately $241,000. Finally, Profund Advisors LLC purchased a new stake in shares of CG Oncology in the 2nd quarter worth approximately $300,000. 26.56% of the stock is currently 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.