Analysts Set CG Oncology, Inc. (NASDAQ:CGON) Price Target at $60.58

CG Oncology, Inc. (NASDAQ:CGON) has earned an average rating of “Moderate Buy” from the fifteen brokerages that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $60.5833.

Several research analysts recently issued reports on the company. Guggenheim started coverage on CG Oncology in a research note on Tuesday, October 7th. They issued a “buy” rating and a $90.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and issued a $75.00 target price on shares of CG Oncology in a report on Monday, September 15th. Jones Trading started coverage on CG Oncology in a research note on Monday, September 8th. They set a “buy” rating and a $50.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of CG Oncology in a report on Wednesday, October 8th. Finally, Zacks Research raised shares of CG Oncology from a “strong sell” rating to a “hold” rating in a research note on Monday, September 1st.

CG Oncology Stock Down 1.3%

Shares of CG Oncology stock opened at $37.37 on Monday. The stock’s fifty day moving average is $41.97 and its two-hundred day moving average is $33.57. CG Oncology has a 52 week low of $14.80 and a 52 week high of $46.01. The company has a market capitalization of $3.01 billion, a PE ratio of -18.32 and a beta of 1.29.

CG Oncology (NASDAQ:CGON) last posted its quarterly earnings results on Friday, November 14th. The company reported ($0.57) EPS for the quarter, hitting the consensus estimate of ($0.57). The company had revenue of $0.16 million for the quarter, compared to the consensus estimate of $0.07 million. CG Oncology had a negative net margin of 15,945.17% and a negative return on equity of 21.67%. As a group, research analysts anticipate that CG Oncology will post -1.31 earnings per share for the current year.

Insider Buying and Selling

In other CG Oncology news, Director Leonard E. Post sold 5,000 shares of CG Oncology stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $40.09, for a total value of $200,450.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James Mulay sold 12,755 shares of the business’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $39.19, for a total transaction of $499,868.45. The disclosure for this sale is available in the SEC filing. Insiders sold 28,232 shares of company stock valued at $1,140,772 in the last three months. 7.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Wesbanco Bank Inc. acquired a new stake in shares of CG Oncology during the second quarter worth about $702,000. Swiss National Bank raised its position in CG Oncology by 1.9% during the 1st quarter. Swiss National Bank now owns 81,100 shares of the company’s stock worth $1,986,000 after buying an additional 1,500 shares during the last quarter. CWM LLC lifted its stake in CG Oncology by 193.5% during the 2nd quarter. CWM LLC now owns 6,193 shares of the company’s stock valued at $161,000 after acquiring an additional 4,083 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of CG Oncology in the 2nd quarter valued at $676,000. Finally, Franklin Resources Inc. boosted its holdings in shares of CG Oncology by 12.7% in the 2nd quarter. Franklin Resources Inc. now owns 1,486,839 shares of the company’s stock valued at $38,658,000 after acquiring an additional 167,905 shares during the last quarter. Institutional investors 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.