CG Oncology, Inc. (NASDAQ:CGON) Receives Average Rating of "Buy" from Analysts

Shares of CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) have been given a consensus rating of "Buy" by the twelve ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $57.70.

CGON has been the topic of a number of recent analyst reports. Scotiabank began coverage on CG Oncology in a report on Wednesday, April 16th. They issued a "sector perform" rating and a $23.00 price objective on the stock. Cantor Fitzgerald reiterated an "overweight" rating and issued a $75.00 price target on shares of CG Oncology in a research note on Monday, April 28th. Morgan Stanley restated an "overweight" rating and set a $55.00 price objective on shares of CG Oncology in a research report on Friday, March 7th. Royal Bank of Canada increased their target price on shares of CG Oncology from $66.00 to $68.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. Finally, HC Wainwright reissued a "buy" rating and issued a $75.00 price target on shares of CG Oncology in a research report on Monday, April 28th.

CG Oncology Price Performance

Shares of CGON stock traded up $0.79 during trading hours on Friday, reaching $24.92. 563,186 shares of the stock were exchanged, compared to its average volume of 813,030. The business's fifty day moving average is $23.59 and its two-hundred day moving average is $28.66. The firm has a market capitalization of $1.90 billion, a P/E ratio of -17.55 and a beta of 1.08. CG Oncology has a 12-month low of $14.80 and a 12-month high of $40.47.

CG Oncology (NASDAQ:CGON - Get Free Report) last announced its quarterly earnings data on Tuesday, March 25th. The company reported ($0.48) earnings per share for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.11). The firm had revenue of $0.46 million during the quarter, compared to analyst estimates of $0.11 million. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. As a group, equities research analysts predict that CG Oncology will post -1.31 earnings per share for the current fiscal year.

Insider Buying and Selling at CG Oncology

In other news, Director Leonard E. Post sold 1,000 shares of the business's stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $30.76, for a total value of $30,760.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Institutional Trading of CG Oncology

Several hedge funds have recently made changes to their positions in CGON. Decheng Capital LLC boosted its holdings in CG Oncology by 16.3% in the 4th quarter. Decheng Capital LLC now owns 6,371,669 shares of the company's stock valued at $182,739,000 after purchasing an additional 892,859 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of CG Oncology by 15.3% in the fourth quarter. Vanguard Group Inc. now owns 5,861,082 shares of the company's stock valued at $168,096,000 after buying an additional 779,730 shares in the last quarter. Braidwell LP grew its holdings in CG Oncology by 3.5% during the fourth quarter. Braidwell LP now owns 3,283,317 shares of the company's stock worth $94,166,000 after acquiring an additional 112,442 shares during the period. Foresite Capital Management VI LLC purchased a new position in CG Oncology in the fourth quarter worth $63,712,000. Finally, Wellington Management Group LLP lifted its holdings in CG Oncology by 274.4% in the fourth quarter. Wellington Management Group LLP now owns 1,910,470 shares of the company's stock valued at $54,792,000 after acquiring an additional 1,400,251 shares during the period. Institutional investors and hedge funds 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.