CG Oncology (NASDAQ:CGON) Raised to "Hold" at Wall Street Zen

Key Points

• CG Oncology was upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, while Goldman Sachs assigned a "strong-buy" rating with a $40.00 price target.
• The company reported a quarterly loss of ($0.54) EPS, which missed the consensus estimate, and has a market cap of $3.04 billion.
• Insider transactions included significant sales by directors, with a 3.33% decrease in one director's shareholding following a sale of 100,000 shares.

CG Oncology (NASDAQ:CGON - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Friday.

Several other research analysts have also commented on the stock. The Goldman Sachs Group upgraded shares of CG Oncology to a "strong-buy" rating and set a $40.00 price target on the stock in a research note on Thursday, July 10th. Royal Bank Of Canada dropped their price target on shares of CG Oncology from $68.00 to $53.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 16th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $75.00 price objective on shares of CG Oncology in a report on Monday, September 8th. Piper Sandler assumed coverage on shares of CG Oncology in a report on Monday, August 18th. They set an "overweight" rating and a $55.00 price objective for the company. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of CG Oncology in a report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $56.55.

CG Oncology Stock Down 0.1%

Shares of CGON traded down $0.03 during mid-day trading on Friday, hitting $39.82. 560,483 shares of the company's stock were exchanged, compared to its average volume of 1,234,206. The firm has a fifty day moving average of $30.60 and a two-hundred day moving average of $26.74. CG Oncology has a twelve month low of $14.80 and a twelve month high of $40.65. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of -22.50 and a beta of 1.31.

CG Oncology (NASDAQ:CGON - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate 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%. On average, equities analysts predict that CG Oncology will post -1.31 earnings per share for the current year.

Insider Transactions at CG Oncology

In other CG Oncology news, Director Hong Fang Song sold 100,000 shares of the stock in a transaction on Wednesday, September 3rd. The shares were 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 of the company's stock, valued at $80,729,281.80. This represents a 3.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James Mulay sold 12,755 shares of the stock in a transaction on Monday, September 29th. The shares were sold at an average price of $39.19, for a total transaction of $499,868.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 170,456 shares of company stock worth $5,308,111. 7.40% of the stock is currently owned by insiders.

Institutional Trading of CG Oncology

A number of hedge funds have recently bought and sold shares of CGON. Alliancebernstein L.P. lifted its holdings in shares of CG Oncology by 15.0% during the 2nd quarter. Alliancebernstein L.P. now owns 2,164,214 shares of the company's stock worth $56,270,000 after acquiring an additional 281,637 shares during the period. Wellington Management Group LLP lifted its holdings in shares of CG Oncology by 11.2% during the 1st quarter. Wellington Management Group LLP now owns 2,125,208 shares of the company's stock worth $52,046,000 after acquiring an additional 214,738 shares during the period. Bank of America Corp DE lifted its holdings in shares of CG Oncology by 409.9% during the 2nd quarter. Bank of America Corp DE now owns 1,736,769 shares of the company's stock worth $45,156,000 after acquiring an additional 1,396,170 shares during the period. Franklin Resources Inc. lifted its holdings in shares of CG Oncology by 12.7% during the 2nd quarter. Franklin Resources Inc. now owns 1,486,839 shares of the company's stock worth $38,658,000 after acquiring an additional 167,905 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of CG Oncology by 4.4% during the 2nd quarter. Geode Capital Management LLC now owns 1,335,437 shares of the company's stock worth $34,727,000 after acquiring an additional 56,203 shares during the period. 26.56% of the stock is owned by 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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