CG Oncology's (CGON) Overweight Rating Reaffirmed at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald has reaffirmed its **"overweight" rating** on CG Oncology (NASDAQ:CGON) with a price target of **$75.00**, suggesting a potential upside of **128.61%** from the last closing price.
• Multiple research firms have issued opinions on CG Oncology, noting a range of price targets, with an **average price target of $54.30** and a consensus rating of **"Moderate Buy."**
• CG Oncology's most recent quarterly earnings reported a loss of **($0.54) per share**, falling short of analysts' expectations by **$0.05**, indicating ongoing financial challenges for the company.

Cantor Fitzgerald reiterated their overweight rating on shares of CG Oncology (NASDAQ:CGON - Free Report) in a research note released on Monday,Benzinga reports. Cantor Fitzgerald currently has a $75.00 price target on the stock.

Other research analysts also recently issued research reports about the stock. The Goldman Sachs Group upgraded shares of CG Oncology to a "strong-buy" rating and set a $40.00 target price on the stock in a research note on Thursday, July 10th. Royal Bank Of Canada dropped their target price on shares of CG Oncology from $68.00 to $53.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 16th. Piper Sandler assumed coverage on shares of CG Oncology in a research note on Monday, August 18th. They issued an "overweight" rating and a $55.00 target price on the stock. Wall Street Zen downgraded shares of CG Oncology from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, Zacks Research upgraded shares of CG Oncology from a "strong sell" rating to a "hold" rating in a research note on Monday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $53.91.

CG Oncology Price Performance

NASDAQ CGON traded up $0.18 during trading hours on Monday, reaching $33.34. 1,398,940 shares of the company's stock traded hands, compared to its average volume of 823,360. The firm has a market cap of $2.54 billion, a PE ratio of -18.84 and a beta of 0.87. CG Oncology has a 52-week low of $14.80 and a 52-week high of $40.47. The firm has a 50-day simple moving average of $27.20 and a 200 day simple moving average of $25.54.

CG Oncology (NASDAQ:CGON - Get Free Report) last issued its earnings results on Friday, August 8th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Sell-side analysts forecast that CG Oncology will post -1.31 EPS for the current fiscal year.

Insider Activity at CG Oncology

In other CG Oncology news, Director Hong Fang Song sold 100,000 shares of CG Oncology stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $27.80, for a total transaction of $2,780,000.00. Following the transaction, the director owned 2,903,931 shares of the company's stock, valued at $80,729,281.80. The trade was a 3.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Leonard E. Post sold 2,000 shares of CG Oncology stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $28.00, for a total transaction of $56,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 129,015 shares of company stock worth $3,687,783. 7.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On CG Oncology

Large investors have recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. purchased a new position in CG Oncology during the fourth quarter valued at approximately $41,000. Winthrop Capital Management LLC purchased a new position in CG Oncology during the second quarter valued at approximately $38,000. CWM LLC lifted its holdings in CG Oncology by 3,957.7% during the first quarter. CWM LLC now owns 2,110 shares of the company's stock valued at $52,000 after purchasing an additional 2,058 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of CG Oncology by 1,051.0% in the first quarter. GAMMA Investing LLC now owns 2,302 shares of the company's stock worth $56,000 after buying an additional 2,102 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of CG Oncology by 15.6% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,945 shares of the company's stock worth $77,000 after buying an additional 398 shares in the last quarter. Hedge funds and other 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.