CG Oncology, Inc. (NASDAQ:CGON) Receives $58.22 Average Target Price from Brokerages

CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) has received a consensus rating of "Buy" from the eleven research firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $58.22.

A number of analysts recently weighed in on the company. HC Wainwright restated a "buy" rating and issued a $75.00 target price on shares of CG Oncology in a research report on Monday, April 28th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $75.00 target price on shares of CG Oncology in a research report on Monday, April 28th. Morgan Stanley reduced their price objective on CG Oncology from $55.00 to $52.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Scotiabank assumed coverage on CG Oncology in a research note on Wednesday, April 16th. They issued a "sector perform" rating and a $23.00 target price for the company. Finally, JPMorgan Chase & Co. assumed coverage on CG Oncology in a research report on Friday, May 2nd. They set an "overweight" rating and a $41.00 price target on the stock.

Insider Activity at CG Oncology

In other 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 value of $30,760.00. The sale was disclosed in a document filed with the SEC, which is available through this link. 7.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On CG Oncology

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC boosted its holdings in CG Oncology by 331.1% in the third 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 in the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in shares of CG Oncology in the 4th quarter worth about $411,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of CG Oncology during the 4th quarter valued at about $68,000. Rhumbline Advisers increased its position in shares of CG Oncology by 2.2% during the fourth quarter. Rhumbline Advisers now owns 69,016 shares of the company's stock valued at $1,979,000 after buying an additional 1,458 shares during the period. Finally, New York State Common Retirement Fund raised its stake in CG Oncology by 16.7% in the fourth quarter. New York State Common Retirement Fund now owns 13,996 shares of the company's stock worth $401,000 after buying an additional 2,000 shares in the last quarter. Institutional investors own 26.56% of the company's stock.

CG Oncology Stock Performance

CG Oncology stock traded down $0.53 during mid-day trading on Thursday, hitting $25.70. 726,922 shares of the company traded hands, compared to its average volume of 829,821. CG Oncology has a one year low of $14.80 and a one year high of $40.47. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of -17.02 and a beta of 1.08. The stock has a fifty day moving average price of $23.05 and a 200-day moving average price of $27.36.

CG Oncology (NASDAQ:CGON - Get Free Report) last released its earnings results on Tuesday, May 13th. The company reported ($0.45) EPS for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.09). CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. The firm had revenue of $0.05 million during the quarter, compared to the consensus estimate of $0.53 million. Sell-side analysts predict that CG Oncology will post -1.31 EPS for the current 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.