CG Oncology, Inc. (NASDAQ:CGON) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on CG Oncology, with nine buy ratings, one hold and one sell among 11 analysts. The average 12-month price target is $87.78, above the reported share price of $72.55.
• CG Oncology’s latest quarterly results missed expectations, reporting an adjusted loss of $0.90 per share versus the $0.66 consensus estimate, although revenue of $1.16 million exceeded forecasts.
• Insiders sold $2.57 million worth of shares over the past 90 days, while institutional investors own 26.56% of the company. The stock has traded between $34.51 and $80.97 over the past year.

CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the eleven analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $87.7778.

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

Insider Activity

In other news, Director Leonard E. Post sold 5,000 shares of the firm's stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $70.00, for a total transaction of $350,000.00. Following the completion of the transaction, the director owned 5,000 shares in the company, valued at $350,000. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James Mulay sold 24,165 shares of CG Oncology stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $75.16, for a total value of $1,816,241.40. Following the completion of the sale, the director directly owned 24,165 shares in the company, valued at $1,816,241.40. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 35,165 shares of company stock worth $2,565,781 over the last 90 days. Corporate insiders own 4.80% of the company's stock.

Institutional Trading of CG Oncology

Large investors have recently added to or reduced their stakes in the company. Fiduciary Financial Advisors purchased a new position in shares of CG Oncology in the second quarter valued at $28,000. NFSG Corp purchased a new stake in CG Oncology during the first quarter valued at $34,000. Fifth Third Bancorp purchased a new stake in CG Oncology during the first quarter valued at $74,000. KBC Group NV bought a new position in CG Oncology during the first quarter valued at $78,000. Finally, ABS Direct Equity Fund LLC bought a new position in CG Oncology during the first quarter valued at $176,000. Institutional investors own 26.56% of the company's stock.

CG Oncology Trading Down 1.7%

NASDAQ CGON opened at $72.55 on Wednesday. CG Oncology has a 12 month low of $34.51 and a 12 month high of $80.97. The stock has a market cap of $6.43 billion, a price-to-earnings ratio of -26.97 and a beta of 0.24. The company's 50 day moving average is $73.94 and its two-hundred day moving average is $68.17.

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

About CG Oncology

CG Oncology, Inc NASDAQ: CGON is a clinical-stage biotechnology company focused on developing therapies for bladder cancer. The company's research is centered on treatments designed to stimulate the immune system and target tumors directly, with an emphasis on non-muscle-invasive bladder cancer (NMIBC).

Its lead investigational product, cretostimogene grenadenorep, also known as CG0070, is an intravesical oncolytic adenovirus intended for administration directly into the bladder. The therapy is designed to selectively replicate in cancer cells, promote tumor-cell destruction and stimulate an immune response through the production of granulocyte-macrophage colony-stimulating factor (GM-CSF).

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