CG Oncology, Inc. (NASDAQ:CGON) Receives $57.70 Consensus Target Price from Brokerages

Shares of CG Oncology, Inc. (NASDAQ:CGON) have been given a consensus rating of “Buy” by the twelve analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $57.70.

A number of analysts have recently issued reports on CGON shares. Morgan Stanley reaffirmed an “overweight” rating and set a $55.00 target price on shares of CG Oncology in a research report on Friday, March 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $75.00 target price on shares of CG Oncology in a research report on Monday, April 28th. Scotiabank initiated coverage on shares of CG Oncology in a research report on Wednesday, April 16th. They set a “sector perform” rating and a $23.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and issued a $75.00 price target on shares of CG Oncology in a report on Monday, April 28th. Finally, JPMorgan Chase & Co. assumed coverage on shares of CG Oncology in a report on Friday, May 2nd. They set an “overweight” rating and a $41.00 price objective for the company.

CG Oncology Stock Performance

CG Oncology stock opened at $23.74 on Friday. The firm has a market capitalization of $1.81 billion, a PE ratio of -16.72 and a beta of 1.08. CG Oncology has a one year low of $14.80 and a one year high of $40.47. The stock’s 50 day moving average price is $23.57 and its 200 day moving average price is $28.52.

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

Insider Transactions at CG Oncology

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the firm’s stock in a transaction on Monday, April 28th. The stock was sold at an average price of $30.76, for a total value of $30,760.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 7.40% of the company’s stock.

Institutional Trading of CG Oncology

A number of large investors have recently modified their holdings of CGON. Decheng Capital LLC increased its stake in shares of CG Oncology by 16.3% in the fourth quarter. Decheng Capital LLC now owns 6,371,669 shares of the company’s stock valued at $182,739,000 after purchasing an additional 892,859 shares during the period. Vanguard Group Inc. raised its stake in CG Oncology by 15.3% during the 4th quarter. Vanguard Group Inc. now owns 5,861,082 shares of the company’s stock valued at $168,096,000 after acquiring an additional 779,730 shares in the last quarter. Braidwell LP boosted its position in CG Oncology by 3.5% during the 4th quarter. Braidwell LP now owns 3,283,317 shares of the company’s stock worth $94,166,000 after acquiring an additional 112,442 shares during the period. Foresite Capital Management VI LLC acquired a new position in shares of CG Oncology during the fourth quarter valued at $63,712,000. Finally, Wellington Management Group LLP raised its stake in shares of CG Oncology by 274.4% during the fourth quarter. Wellington Management Group LLP now owns 1,910,470 shares of the company’s stock valued at $54,792,000 after purchasing an additional 1,400,251 shares in the last quarter. Institutional investors and hedge funds own 26.56% of the company’s stock.

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.