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

CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) has been given a consensus recommendation of "Buy" by the twelve research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $55.30.

Several brokerages have recently issued reports on CGON. HC Wainwright reissued a "buy" rating and set a $75.00 price objective on shares of CG Oncology in a research report on Monday, April 28th. JPMorgan Chase & Co. began coverage on shares of CG Oncology in a research report on Friday, May 2nd. They set an "overweight" rating and a $41.00 price objective for the company. Cantor Fitzgerald reissued an "overweight" rating and set a $75.00 price objective on shares of CG Oncology in a research report on Monday, April 28th. Wall Street Zen raised shares of CG Oncology from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Finally, Scotiabank began coverage on shares of CG Oncology in a research report on Wednesday, April 16th. They issued a "sector perform" rating and a $23.00 target price for the company.

Insider Buying and Selling

In related news, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $30.76, for a total transaction of $30,760.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.40% of the stock is currently owned by corporate insiders.

Institutional Trading of CG Oncology

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. boosted its holdings in shares of CG Oncology by 2.5% during the 1st quarter. Invesco Ltd. now owns 27,754 shares of the company's stock worth $680,000 after buying an additional 685 shares during the period. NEOS Investment Management LLC boosted its holdings in shares of CG Oncology by 10.9% during the 4th quarter. NEOS Investment Management LLC now owns 8,329 shares of the company's stock worth $239,000 after buying an additional 817 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in shares of CG Oncology by 6.5% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 15,270 shares of the company's stock worth $374,000 after buying an additional 930 shares during the period. Massachusetts Financial Services Co. MA raised its stake in CG Oncology by 0.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 258,090 shares of the company's stock worth $6,321,000 after purchasing an additional 933 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in CG Oncology by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,080 shares of the company's stock worth $862,000 after purchasing an additional 1,026 shares in the last quarter. Institutional investors own 26.56% of the company's stock.

CG Oncology Stock Performance

CGON opened at $28.46 on Friday. The firm's fifty day moving average is $26.04 and its two-hundred day moving average is $26.06. The firm has a market cap of $2.17 billion, a PE ratio of -18.85 and a beta of 0.86. 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 posted its earnings results on Tuesday, May 13th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.09). The firm had revenue of $0.05 million during the quarter, compared to analyst estimates of $0.53 million. CG Oncology had a negative return on equity of 16.71% and a negative net margin of 15,945.17%. Equities analysts forecast that CG Oncology will post -1.31 EPS for the current fiscal year.

About CG Oncology

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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