CG Oncology (NASDAQ:CGON) Price Target Raised to $84.00

CG Oncology (NASDAQ:CGON) had its price target boosted by Wedbush from $80.00 to $84.00 in a report issued on Friday morning,Benzinga reports. Wedbush currently has an outperform rating on the stock.

Other analysts have also issued research reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of CG Oncology in a report on Thursday, October 15th. Wall Street Zen upgraded CG Oncology from a “strong sell” rating to a “sell” rating in a research report on Saturday. Truist Financial lifted their price target on CG Oncology from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Piper Sandler boosted their price objective on shares of CG Oncology from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Finally, HC Wainwright reiterated a “buy” rating and issued a $100.00 price objective on shares of CG Oncology in a research report on Wednesday, July 29th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, CG Oncology presently has an average rating of “Moderate Buy” and an average target price of $88.00.

CG Oncology Trading Down 1.3%

Shares of NASDAQ:CGON traded down $0.99 during trading on Friday, hitting $75.00. 175,327 shares of the stock were exchanged, compared to its average volume of 1,088,931. The company has a market cap of $6.65 billion, a PE ratio of -26.87 and a beta of 0.35. The company has a fifty day moving average price of $68.23 and a two-hundred day moving average price of $66.09. CG Oncology has a 12-month low of $35.80 and a 12-month high of $80.97.

CG Oncology (NASDAQ:CGON) last released its quarterly earnings data on Friday, November 6th. The company reported ($0.64) earnings per share for the quarter, beating the consensus estimate of ($0.83) by $0.19. CG Oncology had a negative return on equity of 24.79% and a negative net margin of 3,851.09%. The firm had revenue of $1.60 million during the quarter, compared to the consensus estimate of $0.55 million. Equities research analysts anticipate that CG Oncology will post -3.31 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $62.06, for a total transaction of $62,060.00. Following the completion of the transaction, the director directly owned 1,000 shares in the company, valued at $62,060. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders sold 3,000 shares of company stock worth $209,580. Insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On CG Oncology

A number of large investors have recently bought and sold shares of CGON. Allspring Global Investments Holdings LLC raised its holdings in shares of CG Oncology by 4.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,728 shares of the company’s stock worth $255,000 after acquiring an additional 175 shares during the last quarter. Covestor Ltd boosted its stake in shares of CG Oncology by 72.6% during the third quarter. Covestor Ltd now owns 770 shares of the company’s stock valued at $55,000 after acquiring an additional 324 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of CG Oncology by 47.9% during the third quarter. GAMMA Investing LLC now owns 1,081 shares of the company’s stock valued at $77,000 after acquiring an additional 350 shares during the last quarter. Fiduciary Financial Advisors purchased a new stake in CG Oncology during the 2nd quarter worth about $28,000. Finally, NFSG Corp purchased a new stake in CG Oncology during the 1st quarter worth about $34,000. Institutional investors and hedge funds own 26.56% of the company’s stock.

CG Oncology Company Profile

CG Oncology is a clinical-stage biotechnology company focused on developing treatments for bladder cancer. Based in Irvine, California, the company’s research centers on therapies delivered directly into the bladder.

Its lead investigational therapy, cretostimogene grenadenorepvec (formerly CG0070), is an oncolytic immunotherapy being developed for non-muscle-invasive bladder cancer, including disease that has not responded to Bacillus Calmette-Guérin (BCG) treatment. The modified virus is designed to target cancer cells and stimulate an immune response.

CG Oncology has no approved commercial products.