CG Oncology (NASDAQ:CGON) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen raised CG Oncology’s rating from “strong sell” to “sell,” though the broader analyst consensus remains “Moderate Buy,” with an average price target of $87.50.
• CG Oncology reported a quarterly loss of $0.64 per share, narrower than the $0.83 consensus estimate, and revenue of $1.6 million versus expectations of $0.55 million.
• The stock was reported up 17.3%; it opened at $75.99 and has traded between $35.80 and $80.97 over the past 12 months.

CG Oncology (NASDAQ:CGON - Get Free Report) was upgraded by Wall Street Zen from a "strong sell" rating to a "sell" rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other analysts also recently issued reports on the stock. Truist Financial raised their price objective on shares of CG Oncology from $82.00 to $85.00 and gave the stock a "buy" rating in a report on Friday, August 7th. HC Wainwright reissued a "buy" rating and issued a $100.00 price target on shares of CG Oncology in a research note on Wednesday, July 29th. Piper Sandler upped their price target on shares of CG Oncology from $82.00 to $85.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Weiss Ratings restated a "sell (d-)" rating on shares of CG Oncology in a research report on Thursday, October 15th. Finally, Royal Bank Of Canada reduced their price target on shares of CG Oncology from $81.00 to $79.00 and set an "outperform" rating for the company in a research report on Friday, August 7th. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $87.50.

CG Oncology Trading Up 17.3%

CGON opened at $75.99 on Friday. The company has a market cap of $6.74 billion, a PE ratio of -28.25 and a beta of 0.35. The company has a 50 day moving average of $68.23 and a 200 day moving average 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 - Get Free Report) last released its earnings results on Friday, November 6th. The company reported ($0.64) EPS for the quarter, topping analysts' consensus estimates of ($0.83) by $0.19. The company had revenue of $1.60 million during the quarter, compared to analysts' expectations of $0.55 million. CG Oncology had a negative net margin of 3,602.68% and a negative return on equity of 25.20%. Research analysts forecast that CG Oncology will post -3.31 earnings per share for the current fiscal year.

Insider Activity at CG Oncology

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $62.06, for a total transaction of $62,060.00. Following the transaction, the director directly owned 1,000 shares in the company, valued at $62,060. This represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 3,000 shares of company stock valued at $209,580 in the last quarter. 4.80% of the stock is owned by insiders.

Institutional Trading of CG Oncology

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fisher Asset Management LLC lifted its stake in shares of CG Oncology by 4.4% during the 3rd quarter. Fisher Asset Management LLC now owns 476,917 shares of the company's stock worth $33,809,000 after buying an additional 19,939 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of CG Oncology by 48.6% in the third quarter. Russell Investments Group Ltd. now owns 248,725 shares of the company's stock valued at $17,597,000 after purchasing an additional 81,296 shares during the last quarter. Jefferies Financial Group Inc. lifted its position in CG Oncology by 8.5% during the 3rd quarter. Jefferies Financial Group Inc. now owns 835,342 shares of the company's stock worth $59,217,000 after acquiring an additional 65,395 shares during the period. Knights of Columbus Asset Advisors LLC boosted its position in shares of CG Oncology by 6.3% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 22,186 shares of the company's stock worth $1,573,000 after buying an additional 1,316 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in CG Oncology by 4.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,728 shares of the company's stock valued at $255,000 after buying an additional 175 shares during the period. 26.56% of the stock is owned by institutional investors and hedge funds.

Key CG Oncology News

Here are the key news stories impacting CG Oncology this week:

• Positive Sentiment: CG Oncology reported a third-quarter loss of $0.64 per share, narrower than analysts’ estimates of about $0.83–$0.86 per share. Zacks earnings report
• Positive Sentiment: Revenue was $1.6 million, above the approximately $0.55 million analysts expected, further supporting the favorable market reaction. CG Oncology Gains on Q3 Results
• Neutral Sentiment: The quarterly loss widened from $0.57 per share a year earlier to $0.64, despite beating current estimates. Investors should weigh that ongoing loss against the earnings and revenue surprises. Zacks earnings report

CG Oncology Company Profile

CG Oncology, Inc NASDAQ: CGON is a clinical-stage biotechnology company focused on developing therapies for bladder cancer and other cancers affecting the urinary tract. The company is developing medicines designed to stimulate the immune system and target tumor cells within the bladder.

Its lead product candidate is cretostimogene grenadenorep, an investigational intravesical therapy based on an oncolytic adenovirus. The treatment is designed to be administered directly into the bladder, where it may selectively infect cancer cells, promote their destruction and activate an immune response against the tumor.

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