CG Oncology (NASDAQ:CGON) Stock Price Up 4.7% Following Analyst Upgrade

CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) shares shot up 4.7% on Tuesday after Morgan Stanley raised their price target on the stock from $52.00 to $56.00. Morgan Stanley currently has an overweight rating on the stock. CG Oncology traded as high as $26.31 and last traded at $26.65. 213,112 shares were traded during trading, a decline of 79% from the average session volume of 1,029,603 shares. The stock had previously closed at $25.46.

A number of other equities analysts have also recently commented on CGON. Royal Bank Of Canada boosted their price target on CG Oncology from $66.00 to $68.00 and gave the stock an "outperform" rating in a report on Tuesday, April 29th. Cantor Fitzgerald reissued an "overweight" rating and issued a $75.00 target price on shares of CG Oncology in a report on Monday, April 28th. HC Wainwright reaffirmed a "buy" rating and set a $75.00 price target on shares of CG Oncology in a report on Monday, April 28th. Scotiabank assumed coverage on shares of CG Oncology in a research note on Wednesday, April 16th. They issued a "sector perform" rating and a $23.00 price objective for the company. Finally, JPMorgan Chase & Co. started coverage on shares of CG Oncology in a research report on Friday, May 2nd. They issued an "overweight" rating and a $41.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $58.67.

Insider Buying and Selling

In related news, Director Leonard E. Post sold 1,000 shares of the company's stock in a transaction that occurred on 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 legal filing with the SEC, which can be accessed through this hyperlink.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. acquired a new stake in shares of CG Oncology during the fourth quarter worth $41,000. CWM LLC grew its holdings in 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 acquiring an additional 2,058 shares during the period. GAMMA Investing LLC raised its position in shares of CG Oncology by 1,051.0% in the 1st quarter. GAMMA Investing LLC now owns 2,302 shares of the company's stock worth $56,000 after acquiring an additional 2,102 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of CG Oncology in the 4th quarter valued at about $100,000. Finally, Federated Hermes Inc. bought a new stake in shares of CG Oncology during the 4th quarter valued at about $172,000. Institutional investors own 26.56% of the company's stock.

CG Oncology Trading Up 0.1%

The firm has a 50-day moving average of $24.40 and a 200 day moving average of $26.71. The company has a market cap of $2.00 billion, a P/E ratio of -17.39 and a beta of 0.86.

CG Oncology (NASDAQ:CGON - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.09). The business had revenue of $0.05 million for the quarter, compared to the consensus estimate of $0.53 million. CG Oncology had a negative return on equity of 16.71% and a negative net margin of 15,945.17%. On average, equities analysts predict that CG Oncology, Inc. will post -1.31 EPS for the current year.

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.