CG Oncology, Inc. (NASDAQ:CGON) Stock Now Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Analyst sentiment is moderately positive: Eight of 10 analysts rate CG Oncology a buy, with one hold and one sell; the average 12-month price target is $87.50.
• Recent analyst targets range from $79 at RBC to $100 at HC Wainwright. Piper Sandler and Truist raised their targets to $85, while RBC lowered its target to $79.
• Quarterly results were mixed: CG Oncology reported a loss of $0.90 per share, wider than the $0.66 loss analysts expected, while revenue of $1.16 million topped the $0.36 million consensus estimate.

Shares of CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the ten research firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $87.50.

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

CG Oncology Stock Up 5.6%

CGON opened at $67.64 on Thursday. The firm has a market capitalization of $6.00 billion, a P/E ratio of -25.15 and a beta of 0.35. The stock's 50 day moving average price is $68.57 and its two-hundred day moving average price is $65.94. CG Oncology has a 12-month low of $35.80 and a 12-month high of $80.97.

CG Oncology (NASDAQ:CGON - Get Free Report) last issued 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 during the quarter, compared to the consensus estimate of $0.36 million. As a group, analysts anticipate that CG Oncology will post -3.31 earnings per share for the current year.

Insider Activity at CG Oncology

In related news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $62.06, for a total value of $62,060.00. Following the completion of the sale, the director owned 1,000 shares in the company, valued at approximately $62,060. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 3,000 shares of company stock worth $209,580 over the last three months. 4.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CG Oncology

A number of institutional investors have recently added to or reduced their stakes in the company. WINTON GROUP Ltd acquired a new position in CG Oncology during the 2nd quarter worth $718,000. Legal & General Group Plc bought a new position in CG Oncology in the 2nd quarter valued at $2,846,000. Jefferies Financial Group Inc. acquired a new stake in shares of CG Oncology in the 2nd quarter valued at $54,705,000. Jupiter Topco LLC acquired a new stake in shares of CG Oncology in the 2nd quarter valued at $1,634,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of CG Oncology during the second quarter worth $16,584,000. 26.56% of the stock is owned by institutional investors and hedge funds.

About CG Oncology

CG Oncology, Inc NASDAQ: CGON is a clinical-stage biotechnology company focused on developing therapies for bladder cancer and other cancers affecting the urinary tract. The company is developing medicines designed to stimulate the immune system and target tumor cells within the bladder.

Its lead product candidate is cretostimogene grenadenorep, an investigational intravesical therapy based on an oncolytic adenovirus. The treatment is designed to be administered directly into the bladder, where it may selectively infect cancer cells, promote their destruction and activate an immune response against the tumor.

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