CG Oncology, Inc. (NASDAQ:CGON) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• CG Oncology, Inc. has received a consensus rating of "Moderate Buy" from twelve different research firms, with a twelve-month price target averaging $54.30.
• Recent insider trading activity includes Director Leonard E. Post selling 2,000 shares for $56,000 and Director Hong Fang Song selling 100,000 shares for approximately $2.78 million.
• CG Oncology's stock has seen a significant increase of 6.9%, opening at $33.07, with a market capitalization of $2.52 billion.

Shares of CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) have received a consensus rating of "Moderate Buy" from the twelve research firms that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $54.30.

A number of brokerages have commented on CGON. Piper Sandler began coverage on CG Oncology in a research note on Monday, August 18th. They issued an "overweight" rating and a $55.00 target price on the stock. Wall Street Zen downgraded CG Oncology from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. The Goldman Sachs Group upgraded CG Oncology to a "strong-buy" rating and set a $40.00 target price on the stock in a research note on Thursday, July 10th. Royal Bank Of Canada lowered their target price on CG Oncology from $68.00 to $53.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 16th. Finally, Zacks Research upgraded CG Oncology from a "strong sell" rating to a "hold" rating in a research note on Monday, September 1st.

Insider Activity

In other news, Director Leonard E. Post sold 2,000 shares of the company's stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $28.00, for a total transaction of $56,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Hong Fang Song sold 100,000 shares of the company's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $27.80, for a total value of $2,780,000.00. Following the sale, the director owned 2,903,931 shares of the company's stock, valued at approximately $80,729,281.80. This trade represents a 3.33% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.40% of the company's stock.

Institutional Trading of CG Oncology

Large investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. acquired a new position in shares of CG Oncology during the 4th quarter worth about $41,000. Winthrop Capital Management LLC acquired a new position in shares of CG Oncology during the 2nd quarter worth about $38,000. CWM LLC lifted its position in shares of CG Oncology by 3,957.7% during the 1st quarter. CWM LLC now owns 2,110 shares of the company's stock worth $52,000 after purchasing an additional 2,058 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of CG Oncology by 1,051.0% during the 1st quarter. GAMMA Investing LLC now owns 2,302 shares of the company's stock worth $56,000 after purchasing an additional 2,102 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of CG Oncology by 15.6% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,945 shares of the company's stock worth $77,000 after purchasing an additional 398 shares during the last quarter. Institutional investors own 26.56% of the company's stock.

CG Oncology Trading Up 6.9%

Shares of CGON stock opened at $33.07 on Friday. CG Oncology has a 1-year low of $14.80 and a 1-year high of $40.47. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of -18.68 and a beta of 0.87. The stock's fifty day simple moving average is $26.51 and its 200-day simple moving average is $25.32.

CG Oncology (NASDAQ:CGON - Get Free Report) last issued its quarterly earnings results on Friday, August 8th. The company reported ($0.54) earnings per share for the quarter, missing analysts' consensus estimates of ($0.49) by ($0.05). CG Oncology had a negative net margin of 15,945.17% and a negative return on equity of 19.37%. On average, sell-side analysts predict 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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