CG Oncology (NASDAQ:CGON) Trading Up 2.5% – Still a Buy?

CG Oncology, Inc. (NASDAQ:CGON)’s stock price traded up 2.5% during trading on Friday . The stock traded as high as $29.90 and last traded at $29.85. 328,509 shares traded hands during trading, a decline of 51% from the average session volume of 667,276 shares. The stock had previously closed at $29.11.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CGON. HC Wainwright restated a “buy” rating and issued a $75.00 price objective on shares of CG Oncology in a research note on Friday, December 6th. UBS Group began coverage on CG Oncology in a research report on Thursday, October 24th. They set a “buy” rating and a $60.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $66.00 price objective on shares of CG Oncology in a report on Friday, December 6th. Finally, Bank of America reiterated a “buy” rating and issued a $65.00 price target on shares of CG Oncology in a research report on Tuesday, October 8th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $63.88.

CG Oncology Stock Up 3.2 %

The company’s fifty day moving average price is $33.90 and its two-hundred day moving average price is $34.53.

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 analysts’ consensus estimates of ($0.36) by $0.06. The firm had revenue of $0.04 million for the quarter, compared to the consensus estimate of $0.30 million. CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. As a group, sell-side analysts expect that CG Oncology, Inc. will post -1.32 EPS for the current year.

Insider Transactions at CG Oncology

In other CG Oncology news, Director Hong Fang Song sold 700,000 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 3,003,931 shares in the company, valued at approximately $84,110,068. The trade was a 18.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Leonard E. Post sold 1,000 shares of the firm’s stock in a transaction 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 Trading of CG Oncology

Large investors have recently modified their holdings of the business. Amalgamated Bank boosted its stake 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 purchasing an additional 840 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of CG Oncology during the third quarter valued at approximately $241,000. Profund Advisors LLC acquired a new stake in CG Oncology during the second quarter worth approximately $300,000. HighVista Strategies LLC purchased a new stake in CG Oncology in the 3rd quarter worth approximately $594,000. Finally, M&T Bank Corp raised its holdings in CG Oncology by 55.7% in the 3rd quarter. M&T Bank Corp now owns 16,758 shares of the company’s stock valued at $632,000 after acquiring an additional 5,996 shares during the last quarter. 26.56% of the stock is currently owned by institutional investors and hedge funds.

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.