CG Oncology, Inc. (NASDAQ:CGON) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• CG Oncology, Inc. has received an average recommendation of "Moderate Buy" from thirteen analysts, with a target price of approximately $56.55.
• The company recently reported a loss of $0.54 earnings per share, missing analysts' expectations, and predicted a full-year loss of -$1.31 EPS.
• Notable insider transactions include Director Leonard E. Post selling 1,000 shares, while Director Hong Fang Song sold 100,000 shares, indicating possible shifts in insider confidence.

Shares of CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) have earned an average recommendation of "Moderate Buy" from the thirteen analysts that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $56.5455.

CGON has been the subject of several recent research reports. Cantor Fitzgerald reissued an "overweight" rating and set a $75.00 target price on shares of CG Oncology in a research note on Monday, September 8th. Piper Sandler assumed coverage on CG Oncology in a research report on Monday, August 18th. They set an "overweight" rating and a $55.00 price objective for the company. Wall Street Zen downgraded CG Oncology from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. HC Wainwright reaffirmed a "buy" rating and set a $75.00 target price on shares of CG Oncology in a report on Monday, September 15th. Finally, Royal Bank Of Canada dropped their price target on CG Oncology from $68.00 to $53.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 16th.

CG Oncology Trading Up 3.1%

Shares of NASDAQ CGON opened at $40.28 on Wednesday. CG Oncology has a twelve month low of $14.80 and a twelve month high of $40.53. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of -22.76 and a beta of 0.87. The firm has a 50-day moving average of $29.79 and a two-hundred day moving average of $26.48.

CG Oncology (NASDAQ:CGON - Get Free Report) last issued its quarterly earnings results on Friday, August 8th. The company reported ($0.54) earnings per share for the quarter, missing analysts' consensus estimates of ($0.49) by ($0.05). CG Oncology had a negative net margin of 15,945.17% and a negative return on equity of 19.37%. As a group, research analysts predict that CG Oncology will post -1.31 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Leonard E. Post sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $35.10, for a total value of $35,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Hong Fang Song sold 100,000 shares of CG Oncology stock in a transaction that occurred on Wednesday, September 3rd. The stock was 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 in the company, valued at approximately $80,729,281.80. The trade was a 3.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 165,456 shares of company stock worth $5,107,661 in the last quarter.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Ameriprise Financial Inc. boosted its position in CG Oncology by 70.2% during the 4th quarter. Ameriprise Financial Inc. now owns 21,946 shares of the company's stock worth $629,000 after acquiring an additional 9,051 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of CG Oncology in the fourth quarter worth approximately $313,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of CG Oncology by 496.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 125,902 shares of the company's stock worth $3,611,000 after purchasing an additional 104,780 shares during the period. California State Teachers Retirement System grew its position in CG Oncology by 115.3% during the fourth quarter. California State Teachers Retirement System now owns 38,768 shares of the company's stock valued at $1,112,000 after purchasing an additional 20,763 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in CG Oncology by 1,051.0% in the 1st quarter. GAMMA Investing LLC now owns 2,302 shares of the company's stock valued at $56,000 after buying an additional 2,102 shares during the period. 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.

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