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

Shares of CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) have been given an average rating of "Buy" by the eleven analysts that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $58.22.

CGON has been the topic of a number of recent research reports. Royal Bank of Canada upped their target price on shares of CG Oncology from $66.00 to $68.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. HC Wainwright reaffirmed a "buy" rating and issued a $75.00 target price on shares of CG Oncology in a research report on Monday, April 28th. JPMorgan Chase & Co. initiated coverage on shares of CG Oncology in a research report on Friday, May 2nd. They issued an "overweight" rating and a $41.00 target price on the stock. Morgan Stanley reduced their target price on shares of CG Oncology from $55.00 to $52.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Finally, Scotiabank initiated 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 on the stock.

CG Oncology Price Performance

CG Oncology stock traded up $0.97 during mid-day trading on Thursday, reaching $26.59. 620,072 shares of the company traded hands, compared to its average volume of 826,160. The firm's 50 day moving average price is $23.05 and its 200 day moving average price is $27.20. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of -17.61 and a beta of 1.08. CG Oncology has a 52-week low of $14.80 and a 52-week high of $40.47.

CG Oncology (NASDAQ:CGON - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $0.53 million. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. On average, sell-side analysts anticipate that CG Oncology will post -1.31 EPS for the current year.

Insider Activity at CG Oncology

In related news, Director Leonard E. Post sold 1,000 shares of the 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 SEC, which can be accessed through the SEC website. 7.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CG Oncology

Several hedge funds and other institutional investors have recently bought and sold shares of CGON. Barclays PLC lifted its stake in CG Oncology by 331.1% during the 3rd quarter. Barclays PLC now owns 90,520 shares of the company's stock valued at $3,416,000 after acquiring an additional 69,523 shares during the period. China Universal Asset Management Co. Ltd. bought a new position in CG Oncology during the 4th quarter valued at about $411,000. Mirae Asset Global Investments Co. Ltd. bought a new position in CG Oncology during the 4th quarter valued at about $68,000. Rhumbline Advisers lifted its stake in CG Oncology by 2.2% during the 4th quarter. Rhumbline Advisers now owns 69,016 shares of the company's stock valued at $1,979,000 after acquiring an additional 1,458 shares during the period. Finally, New York State Common Retirement Fund lifted its stake in CG Oncology by 16.7% during the 4th quarter. New York State Common Retirement Fund now owns 13,996 shares of the company's stock valued at $401,000 after acquiring an additional 2,000 shares during the period. Institutional investors 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.