Analysts Set CG Oncology, Inc. (NASDAQ:CGON) Target Price at $55.30

Key Points

• CG Oncology, Inc. has received a consensus recommendation of "Buy" from twelve analysts, with a target price averaging $55.30.
• Director Leonard E. Post sold 2,000 shares at an average price of $28.00, totaling $56,000, as disclosed in recent SEC filings.
• Despite analysts' positive outlook, CG Oncology's shares are currently trading down 3.7% at $23.94 and reported a missing earnings expectation with -$0.54 EPS.

CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) has received a consensus rating of "Buy" from the twelve analysts that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $55.30.

Several equities research analysts have commented on 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 report on Thursday, July 10th. JPMorgan Chase & Co. initiated coverage on shares of CG Oncology in a research report on Friday, May 2nd. They set an "overweight" rating and a $41.00 target price on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $75.00 price target on shares of CG Oncology in a research note on Monday, April 28th. Morgan Stanley lifted their price target on CG Oncology from $52.00 to $56.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 17th. Finally, Wall Street Zen downgraded CG Oncology from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th.

CG Oncology Trading Down 0.7%

NASDAQ:CGON traded down $0.18 during mid-day trading on Tuesday, hitting $25.78. The stock had a trading volume of 44,207 shares, compared to its average volume of 994,945. The stock has a 50-day simple moving average of $26.19 and a two-hundred day simple moving average of $25.54. The company has a market capitalization of $1.97 billion, a PE ratio of -14.52 and a beta of 0.87. CG Oncology has a twelve month low of $14.80 and a twelve month high of $40.47.

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

Insider Activity

In other news, Director Leonard E. Post sold 2,000 shares of the business's stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $28.00, for a total transaction of $56,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 7.40% of the company's stock.

Hedge Funds Weigh In On CG Oncology

Institutional investors have recently made changes to their positions in the business. Winthrop Capital Management LLC acquired a new stake in shares of CG Oncology during the 2nd quarter valued at approximately $38,000. GF Fund Management CO. LTD. acquired a new stake in shares of CG Oncology during the 4th quarter valued at approximately $41,000. CWM LLC raised its position in shares of CG Oncology by 3,957.7% during the 1st quarter. CWM LLC now owns 2,110 shares of the company's stock valued at $52,000 after acquiring an additional 2,058 shares in the last quarter. GAMMA Investing LLC raised its position in shares of CG Oncology by 1,051.0% during the 1st quarter. GAMMA Investing LLC now owns 2,302 shares of the company's stock valued at $56,000 after acquiring an additional 2,102 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of CG Oncology by 15.6% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,945 shares of the company's stock valued at $77,000 after acquiring an additional 398 shares in the last quarter. 26.56% of the stock is owned by institutional investors and hedge funds.

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.