CG Oncology (NASDAQ:CGON) Coverage Initiated at JPMorgan Chase & Co.

JPMorgan Chase & Co. began coverage on shares of CG Oncology (NASDAQ:CGON - Free Report) in a research report sent to investors on Friday, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $41.00 price objective on the stock.

Other analysts have also issued reports about the stock. Morgan Stanley reissued an "overweight" rating and set a $55.00 price target on shares of CG Oncology in a research report on Friday, March 7th. Royal Bank of Canada lifted their price target on CG Oncology from $66.00 to $68.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. Scotiabank started coverage on CG Oncology in a report on Wednesday, April 16th. They issued a "sector perform" rating and a $23.00 price objective on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $75.00 target price on shares of CG Oncology in a report on Monday, April 28th. Finally, TD Cowen began coverage on shares of CG Oncology in a report on Tuesday, January 7th. They issued a "buy" rating on the stock. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, CG Oncology has an average rating of "Buy" and a consensus target price of $57.70.

CG Oncology Trading Down 3.0 %

Shares of CG Oncology stock traded down $0.87 during trading on Friday, hitting $28.18. 967,141 shares of the stock traded hands, compared to its average volume of 782,482. The stock's fifty day simple moving average is $23.74 and its 200 day simple moving average is $28.85. The firm has a market cap of $2.15 billion, a P/E ratio of -19.85 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 posted its earnings results on Tuesday, March 25th. The company reported ($0.48) EPS for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.11). CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. The business had revenue of $0.46 million for the quarter, compared to analysts' expectations of $0.11 million. As a group, equities analysts expect 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 CG Oncology stock in a transaction dated 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 Securities & Exchange Commission, which is accessible through this link.

Institutional Trading of CG Oncology

Institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its position in shares of CG Oncology by 59.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 31,071 shares of the company's stock valued at $1,172,000 after buying an additional 11,542 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in CG Oncology during the fourth quarter valued at $411,000. Vanguard Group Inc. grew its position in shares of CG Oncology by 15.3% in the fourth quarter. Vanguard Group Inc. now owns 5,861,082 shares of the company's stock valued at $168,096,000 after purchasing an additional 779,730 shares during the period. Barclays PLC grew its position in shares of 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 purchasing an additional 69,523 shares during the period. Finally, Franklin Resources Inc. increased its stake in shares of CG Oncology by 8.9% during the third quarter. Franklin Resources Inc. now owns 1,230,193 shares of the company's stock worth $46,157,000 after purchasing an additional 100,106 shares in the last quarter. 26.56% of the stock is owned by institutional investors and hedge funds.

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.