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

CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) has been assigned an average recommendation of "Buy" from the eleven research firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $58.67.

A number of research firms have issued reports on CGON. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $75.00 price target on shares of CG Oncology in a research report on Monday, April 28th. Royal Bank Of Canada increased their price target on CG Oncology from $66.00 to $68.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. HC Wainwright reaffirmed a "buy" rating and issued a $75.00 price target on shares of CG Oncology in a research report on Monday, April 28th. Scotiabank began coverage on CG Oncology in a research report on Wednesday, April 16th. They issued a "sector perform" rating and a $23.00 price target on the stock. Finally, JPMorgan Chase & Co. started coverage on CG Oncology in a research report on Friday, May 2nd. They issued an "overweight" rating and a $41.00 price target on the stock.

Insider Transactions at CG Oncology

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $30.76, for a total transaction of $30,760.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in CG Oncology by 15.3% during the fourth quarter. Vanguard Group Inc. now owns 5,861,082 shares of the company's stock worth $168,096,000 after buying an additional 779,730 shares during the period. New York State Common Retirement Fund grew its stake in shares of CG Oncology by 16.7% in the 4th quarter. New York State Common Retirement Fund now owns 13,996 shares of the company's stock valued at $401,000 after purchasing an additional 2,000 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of CG Oncology by 45.3% in the 4th quarter. Wells Fargo & Company MN now owns 28,234 shares of the company's stock valued at $810,000 after purchasing an additional 8,803 shares during the last quarter. Swiss National Bank grew its stake in shares of CG Oncology by 144.2% in the 4th quarter. Swiss National Bank now owns 79,600 shares of the company's stock valued at $2,283,000 after purchasing an additional 47,000 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of CG Oncology by 443.5% in the 4th quarter. JPMorgan Chase & Co. now owns 168,866 shares of the company's stock valued at $4,843,000 after purchasing an additional 137,795 shares during the last quarter. Institutional investors and hedge funds own 26.56% of the company's stock.

CG Oncology Price Performance

CGON stock opened at $25.55 on Monday. The firm has a market capitalization of $1.95 billion, a P/E ratio of -16.92 and a beta of 0.87. The business's 50-day moving average is $24.87 and its two-hundred day moving average is $26.46. CG Oncology has a 1 year low of $14.80 and a 1 year high of $40.47.

CG Oncology (NASDAQ:CGON - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.09). The company had revenue of $0.05 million during the quarter, compared to analyst estimates of $0.53 million. CG Oncology had a negative net margin of 15,945.17% and a negative return on equity of 16.71%. On average, analysts expect that CG Oncology will post -1.31 EPS for the current year.

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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