CG Oncology (NASDAQ:CGON) Earns "Sell (D-)" Rating from Weiss Ratings

Key Points

• CG Oncology's stock has been reaffirmed with a "Sell (D-)" rating by Weiss Ratings, while other analysts have varied opinions, ranging from "Strong Buy" to "Hold".
• The company's recent earnings report revealed a loss of ($0.54) EPS, missing expectations, and a negative net margin of 15,945.17%.
• A significant insider activity was noted as Director Hong Fang Song sold 100,000 shares for approximately $2.78 million, reflecting a decrease in ownership percentage.

CG Oncology (NASDAQ:CGON - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by investment analysts at Weiss Ratings in a research report issued to clients and investors on Friday,Weiss Ratings reports.

A number of other equities analysts also recently issued reports on the company. Wall Street Zen raised CG Oncology from a "sell" rating to a "hold" rating in a research report on Friday, October 3rd. Piper Sandler initiated coverage on CG Oncology in a research note on Monday, August 18th. They set an "overweight" rating and a $55.00 price target on the stock. Royal Bank Of Canada reduced their price objective on CG Oncology from $68.00 to $53.00 and set an "outperform" rating for the company in a research note on Wednesday, July 16th. Jones Trading started coverage on shares of CG Oncology in a report on Monday, September 8th. They issued a "buy" rating and a $50.00 price target on the stock. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $75.00 price objective on shares of CG Oncology in a research report on Monday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $58.70.

CG Oncology Trading Up 4.0%

Shares of NASDAQ CGON traded up $1.69 during mid-day trading on Friday, reaching $43.67. 662,143 shares of the company were exchanged, compared to its average volume of 940,175. CG Oncology has a 1 year low of $14.80 and a 1 year high of $45.56. The firm has a 50-day moving average of $35.49 and a 200 day moving average of $28.63.

CG Oncology (NASDAQ:CGON - Get Free Report) last announced its earnings results on Friday, August 8th. The company reported ($0.54) EPS for the quarter, missing analysts' consensus estimates of ($0.49) by ($0.05). CG Oncology had a negative return on equity of 19.37% and a negative net margin of 15,945.17%. Equities research analysts expect that CG Oncology will post -1.31 EPS for the current fiscal year.

Insider Buying and Selling at CG Oncology

In other news, Director Hong Fang Song sold 100,000 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the director directly owned 2,903,931 shares in the company, valued at $80,729,281.80. This represents a 3.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Brian Guan-Chyun Liu acquired 1,515,151 shares of CG Oncology stock in a transaction that occurred on Thursday, September 11th. The shares were bought at an average price of $33.00 per share, for a total transaction of $49,999,983.00. Following the transaction, the director owned 1,515,151 shares of the company's stock, valued at $49,999,983. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have sold 174,359 shares of company stock valued at $5,511,784 over the last ninety days. 7.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Winthrop Capital Management LLC acquired a new stake in CG Oncology during the second quarter worth about $38,000. CWM LLC increased its holdings 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 buying an additional 2,058 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised 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 valued at $77,000 after buying an additional 398 shares during the period. PNC Financial Services Group Inc. grew its position in CG Oncology by 15.2% in the second quarter. PNC Financial Services Group Inc. now owns 3,279 shares of the company's stock worth $85,000 after acquiring an additional 433 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in CG Oncology by 159.2% during the second quarter. Tower Research Capital LLC TRC now owns 6,982 shares of the company's stock worth $182,000 after acquiring an additional 4,288 shares during the last quarter. Institutional investors and hedge funds 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.

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