CG Oncology (NASDAQ:CGON) Earns Overweight Rating from Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of CG Oncology (NASDAQ:CGON - Free Report) in a report published on Friday morning, MarketBeat Ratings reports. The firm issued an overweight rating and a $41.00 target price on the stock.

Other research analysts have also recently issued research reports about the company. Scotiabank initiated coverage on CG Oncology in a research note on Wednesday, April 16th. They issued a "sector perform" rating and a $23.00 price target on the stock. Royal Bank of Canada raised their price target 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. Morgan Stanley reaffirmed an "overweight" rating and issued a $55.00 price target on shares of CG Oncology in a report on Friday, March 7th. Cantor Fitzgerald reissued an "overweight" rating and set a $75.00 price objective on shares of CG Oncology in a report on Monday, April 28th. Finally, HC Wainwright restated a "buy" rating and issued a $75.00 target price on shares of CG Oncology in a research note on Monday, April 28th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $57.70.

CG Oncology Price Performance

Shares of CGON stock traded up $0.76 during midday trading on Friday, reaching $22.46. 1,790,599 shares of the company traded hands, compared to its average volume of 798,237. The firm has a market cap of $1.71 billion, a PE ratio of -15.81 and a beta of 1.08. CG Oncology has a 1-year low of $14.80 and a 1-year high of $40.47. The firm's 50 day simple moving average is $23.68 and its two-hundred day simple moving average is $28.80.

CG Oncology (NASDAQ:CGON - Get Free Report) last posted its quarterly earnings data on Tuesday, March 25th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.11). The firm had revenue of $0.46 million for the quarter, compared to analysts' expectations of $0.11 million. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. As a group, research analysts anticipate that CG Oncology will post -1.31 earnings per share for the current fiscal year.

Insider Transactions at CG Oncology

In other news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction on Monday, April 28th. The stock was sold at an average price of $30.76, for a total value of $30,760.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional Trading of CG Oncology

Institutional investors have recently made changes to their positions in the stock. NEOS Investment Management LLC boosted its position 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 valued at $239,000 after purchasing an additional 817 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in CG Oncology by 6.5% in the first 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 last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of CG Oncology by 0.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 258,090 shares of the company's stock valued at $6,321,000 after buying an additional 933 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of CG Oncology by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,080 shares of the company's stock valued at $862,000 after buying an additional 1,026 shares in the last quarter. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of CG Oncology during the 4th quarter valued at $41,000. 26.56% of the stock is owned by institutional investors and hedge funds.

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.