CG Oncology (NASDAQ:CGON) Receives Overweight Rating from Cantor Fitzgerald

CG Oncology (NASDAQ:CGON)‘s stock had its “overweight” rating restated by equities researchers at Cantor Fitzgerald in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $75.00 price objective on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 147.21% from the stock’s previous close.

A number of other analysts have also recently commented on CGON. TD Cowen initiated coverage on CG Oncology in a research report on Tuesday, January 7th. They set a “buy” rating for the company. Morgan Stanley reaffirmed an “overweight” rating and set a $55.00 price target on shares of CG Oncology in a research report on Friday, March 7th. Scotiabank initiated coverage on shares of CG Oncology in a report on Wednesday, April 16th. They issued a “sector perform” rating and a $23.00 price objective on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $75.00 target price on shares of CG Oncology in a report on Monday. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $59.33.

CG Oncology Price Performance

CGON stock traded up $7.97 during midday trading on Monday, hitting $30.34. The stock had a trading volume of 4,432,990 shares, compared to its average volume of 888,896. The business has a 50-day moving average of $23.61 and a two-hundred day moving average of $29.22. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of -21.51 and a beta of 1.24. CG Oncology has a 52-week low of $14.80 and a 52-week high of $46.99.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings results on Tuesday, March 25th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.11). The business had revenue of $0.46 million for the quarter, compared to analysts’ expectations of $0.11 million. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. Research analysts predict that CG Oncology will post -1.31 earnings per share for the current year.

Institutional Trading of CG Oncology

A number of hedge funds have recently added to or reduced their stakes in CGON. GF Fund Management CO. LTD. purchased a new position in CG Oncology in the fourth quarter valued at $41,000. GAMMA Investing LLC increased its stake in shares of CG Oncology by 1,051.0% in the 1st quarter. GAMMA Investing LLC now owns 2,302 shares of the company’s stock valued at $56,000 after purchasing an additional 2,102 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in CG Oncology in the 4th quarter worth about $68,000. KLP Kapitalforvaltning AS purchased a new position in CG Oncology during the fourth quarter worth approximately $100,000. Finally, Federated Hermes Inc. acquired a new position in shares of CG Oncology during the 4th quarter worth approximately $172,000. 26.56% of the stock is owned by hedge funds and other 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.