CG Oncology, Inc. (CGON) - What Are Researchers Thinking About This Stock?

Key Points

• Analysts are broadly bullish: CG Oncology has a “Moderate Buy” consensus from 10 brokerages, with eight buys, one hold and one sell. The average 12-month price target is $87.50, above the reported share price of $63.82.
• Recent performance remains unprofitable: The company reported a quarterly loss of $0.90 per share, missing the $0.66 consensus estimate, despite revenue of $1.16 million exceeding expectations. Analysts expect a full-year loss of $3.31 per share.
• CG Oncology is developing cancer immunotherapies, led by cretostimogene grenadenorepvec, an intravesical treatment being studied for non-muscle-invasive bladder cancer. Hedge funds and other institutions own 26.56% of the stock, while an insider recently reduced his position by half.

Shares of CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) have earned a consensus rating of "Moderate Buy" from the ten brokerages that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $87.50.

Several research analysts have recently commented on CGON shares. Wall Street Zen downgraded CG Oncology from a "sell" rating to a "strong sell" rating in a report on Saturday, August 8th. Truist Financial boosted their price objective on CG Oncology from $82.00 to $85.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Royal Bank Of Canada cut their target price on shares of CG Oncology from $81.00 to $79.00 and set an "outperform" rating on the stock in a report on Friday, August 7th. Piper Sandler increased their price target on shares of CG Oncology from $82.00 to $85.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $100.00 price objective on shares of CG Oncology in a research note on Wednesday, July 29th.

CG Oncology Price Performance

NASDAQ:CGON opened at $63.82 on Friday. The company has a market capitalization of $5.66 billion, a price-to-earnings ratio of -23.72 and a beta of 0.28. The business has a 50 day moving average of $73.34 and a 200 day moving average of $69.05. CG Oncology has a 1-year low of $35.80 and a 1-year high of $80.97.

CG Oncology (NASDAQ:CGON - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.24). CG Oncology had a negative return on equity of 25.20% and a negative net margin of 3,602.68%. The business had revenue of $1.16 million for the quarter, compared to analysts' expectations of $0.36 million. As a group, sell-side analysts anticipate that CG Oncology will post -3.31 EPS for the current year.

Insiders Place Their Bets

In other news, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $72.98, for a total value of $72,980.00. Following the sale, the director directly owned 1,000 shares in the company, valued at approximately $72,980. This trade represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.80% of the company's stock.

Hedge Funds Weigh In On CG Oncology

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC lifted its stake in CG Oncology by 47.9% in the third quarter. GAMMA Investing LLC now owns 1,081 shares of the company's stock worth $77,000 after acquiring an additional 350 shares during the period. Tidal Investments LLC increased its position in CG Oncology by 8.8% during the 2nd quarter. Tidal Investments LLC now owns 68,702 shares of the company's stock valued at $4,881,000 after purchasing an additional 5,539 shares during the period. WINTON GROUP Ltd bought a new position in CG Oncology in the 2nd quarter worth $718,000. Squarepoint Ops LLC bought a new position in CG Oncology in the 2nd quarter worth $1,029,000. Finally, Arizona State Retirement System raised its holdings in CG Oncology by 19.0% in the 2nd quarter. Arizona State Retirement System now owns 13,979 shares of the company's stock worth $993,000 after purchasing an additional 2,232 shares in the last quarter. 26.56% of the stock is owned by hedge funds and other institutional investors.

CG Oncology Company Profile

CG Oncology, Inc NASDAQ: CGON is a clinical-stage biopharmaceutical company focused on developing therapies for bladder cancer and other cancers of the urinary tract. The company's research centers on cancer-directed immunotherapies designed to stimulate the immune system and target tumor cells.

Its lead product candidate is cretostimogene grenadenorepvec, an intravesical oncolytic adenovirus being studied for the treatment of non-muscle-invasive bladder cancer (NMIBC). The therapy is designed to be delivered directly into the bladder, where it may selectively infect tumor cells and activate an immune response against cancer.

CG Oncology has evaluated cretostimogene in clinical studies involving patients with NMIBC, including individuals whose disease has not responded adequately to Bacillus Calmette-Guérin (BCG), a standard bladder cancer treatment.

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