CG Oncology (NASDAQ:CGON) Now Covered by Analysts at Guggenheim

Key Points

• Analysts at Guggenheim have initiated coverage on CG Oncology (NASDAQ:CGON) with a "buy" rating and a price target of $90.00, indicating a potential upside of 106.12% from the stock's previous close.
• The stock is currently trading at $43.66, and has experienced a 7.3% increase during trading hours on Tuesday, reflecting investor interest and positive sentiment.
• CG Oncology's average price target among analysts is $58.82, with a consensus rating of "Moderate Buy", indicating overall optimism regarding the company's future prospects.

Analysts at Guggenheim initiated coverage on shares of CG Oncology (NASDAQ:CGON - Get Free Report) in a research note issued on Tuesday, Marketbeat Ratings reports. The firm set a "buy" rating and a $90.00 price target on the stock. Guggenheim's price objective indicates a potential upside of 106.12% from the stock's previous close.

A number of other research firms have also weighed in on CGON. Jones Trading assumed coverage on shares of CG Oncology in a report on Monday, September 8th. They set a "buy" rating and a $50.00 target price on the stock. The Goldman Sachs Group raised shares of CG Oncology to a "strong-buy" rating and set a $40.00 target price on the stock in a report on Thursday, July 10th. Zacks Research raised shares of CG Oncology from a "strong sell" rating to a "hold" rating in a report on Monday, September 1st. Piper Sandler started coverage on shares of CG Oncology in a report on Monday, August 18th. They issued an "overweight" rating and a $55.00 price target on the stock. Finally, HC Wainwright reissued a "buy" rating and issued a $75.00 price target on shares of CG Oncology in a report on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, CG Oncology presently has a consensus rating of "Moderate Buy" and an average price target of $58.82.

CG Oncology Stock Up 7.3%

NASDAQ:CGON traded up $2.95 during trading hours on Tuesday, reaching $43.66. The company had a trading volume of 347,845 shares, compared to its average volume of 989,180. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of -24.67 and a beta of 1.31. The business's 50-day simple moving average is $31.36 and its two-hundred day simple moving average is $26.97. CG Oncology has a twelve month low of $14.80 and a twelve month high of $44.00.

CG Oncology (NASDAQ:CGON - Get Free Report) last issued its quarterly earnings data on Friday, August 8th. The company reported ($0.54) earnings per share (EPS) 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%. As a group, equities analysts predict that CG Oncology will post -1.31 earnings per share for the current year.

Insider Buying and Selling at CG Oncology

In other news, Director Brian Guan-Chyun Liu purchased 1,515,151 shares of the firm's stock in a transaction on Thursday, September 11th. The stock was acquired at an average cost of $33.00 per share, with a total value of $49,999,983.00. Following the completion of the transaction, the director owned 1,515,151 shares in the company, valued at $49,999,983. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Hong Fang Song sold 100,000 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $27.80, for a total transaction of $2,780,000.00. Following the completion of the transaction, the director owned 2,903,931 shares in the company, 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. Over the last three months, insiders have sold 170,456 shares of company stock valued at $5,308,111. Insiders own 7.40% of the company's stock.

Institutional Trading of CG Oncology

Institutional investors and hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC boosted its holdings in CG Oncology by 159.2% in the second quarter. Tower Research Capital LLC TRC now owns 6,982 shares of the company's stock valued at $182,000 after purchasing an additional 4,288 shares in the last quarter. E Fund Management Co. Ltd. acquired a new stake in shares of CG Oncology in the second quarter valued at approximately $232,000. Rafferty Asset Management LLC boosted its holdings in shares of CG Oncology by 12.3% in the second quarter. Rafferty Asset Management LLC now owns 80,228 shares of the company's stock valued at $2,086,000 after acquiring an additional 8,802 shares during the period. Rosalind Advisors Inc. acquired a new stake in shares of CG Oncology in the second quarter valued at approximately $5,017,000. Finally, Opaleye Management Inc. boosted its holdings in shares of CG Oncology by 62.2% in the second quarter. Opaleye Management Inc. now owns 266,000 shares of the company's stock valued at $6,916,000 after acquiring an additional 102,012 shares during the period. 26.56% of the stock is currently owned by hedge funds and other institutional investors.

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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