Jones Trading Begins Coverage on CG Oncology (NASDAQ:CGON)

Investment analysts at Jones Trading started coverage on shares of CG Oncology (NASDAQ:CGON) in a research report issued to clients and investors on Monday,Benzinga reports. The firm set a “buy” rating and a $50.00 price target on the stock. Jones Trading’s price objective would suggest a potential upside of 47.97% from the stock’s previous close.

Several other equities analysts have also weighed in on CGON. Piper Sandler assumed coverage on CG Oncology in a research note on Monday, August 18th. They issued an “overweight” rating and a $55.00 price target for the company. Zacks Research upgraded CG Oncology from a “strong sell” rating to a “hold” rating in a research report on Monday, September 1st. Cantor Fitzgerald reiterated an “overweight” rating and set a $75.00 target price on shares of CG Oncology in a research report on Monday. Morgan Stanley lifted their price target on shares of CG Oncology from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, June 17th. Finally, The Goldman Sachs Group raised shares of CG Oncology to a “strong-buy” rating and set a $40.00 price target for the company in a report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, CG Oncology currently has an average rating of “Moderate Buy” and a consensus target price of $53.91.

CG Oncology Trading Up 2.2%

Shares of CGON stock traded up $0.72 during mid-day trading on Monday, reaching $33.79. The stock had a trading volume of 446,541 shares, compared to its average volume of 967,945. CG Oncology has a 1-year low of $14.80 and a 1-year high of $40.47. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of -19.09 and a beta of 0.87. The business’s fifty day moving average is $26.51 and its 200-day moving average is $25.29.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings data on Friday, August 8th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.05). CG Oncology had a negative return on equity of 19.37% and a negative net margin of 15,945.17%. On average, analysts forecast that CG Oncology will post -1.31 earnings per share for the current year.

Insider Buying and Selling at CG Oncology

In other news, Director Leonard E. Post sold 2,000 shares of the stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $28.00, for a total value of $56,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Hong Fang Song sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $27.80, for a total transaction of $2,780,000.00. Following the completion of the transaction, the director directly owned 2,903,931 shares in the company, valued at approximately $80,729,281.80. This represents a 3.33% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CGON. Winthrop Capital Management LLC purchased a new position in CG Oncology during the second quarter worth about $38,000. GF Fund Management CO. LTD. purchased a new position in CG Oncology in the fourth quarter worth approximately $41,000. CWM LLC increased its stake in CG Oncology by 3,957.7% during the first quarter. CWM LLC now owns 2,110 shares of the company’s stock worth $52,000 after acquiring an additional 2,058 shares during the last quarter. GAMMA Investing LLC raised its position in CG Oncology by 1,051.0% in the first 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 during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of CG Oncology by 15.6% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,945 shares of the company’s stock valued at $77,000 after purchasing an additional 398 shares during the last quarter. 26.56% of the stock is 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.