CG Oncology (NASDAQ:CGON) Earns "Buy" Rating from HC Wainwright

CG Oncology (NASDAQ:CGON - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at HC Wainwright in a note issued to investors on Monday,Benzinga reports. They currently have a $75.00 price objective on the stock. HC Wainwright's target price would indicate a potential upside of 158.18% from the company's current price.

Several other brokerages also recently commented on CGON. Scotiabank assumed coverage on CG Oncology in a report on Wednesday, April 16th. They issued a "sector perform" rating and a $23.00 target price on the stock. TD Cowen assumed coverage on CG Oncology in a research note on Tuesday, January 7th. They issued a "buy" rating for the company. Finally, Morgan Stanley reiterated an "overweight" rating and set a $55.00 price target on shares of CG Oncology in a research report on Friday, March 7th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $57.70.

CG Oncology Trading Up 4.7 %

CGON stock traded up $1.31 during trading on Monday, hitting $29.05. The company had a trading volume of 1,160,711 shares, compared to its average volume of 788,384. The company has a fifty day moving average price of $23.68 and a two-hundred day moving average price of $29.01. CG Oncology has a fifty-two week low of $14.80 and a fifty-two week high of $46.99. The company has a market cap of $2.21 billion, a P/E ratio of -20.46 and a beta of 1.24.

CG Oncology (NASDAQ:CGON - Get Free Report) last announced its earnings results on Tuesday, March 25th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.11). The firm had revenue of $0.46 million for the quarter, compared to analyst estimates of $0.11 million. CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. On average, analysts expect that CG Oncology will post -1.31 earnings per share for the current year.

Insider Activity

In related news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $30.76, for a total value of $30,760.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Institutional Trading of CG Oncology

A number of institutional investors have recently bought and sold shares of the business. Decheng Capital LLC boosted its position in shares of CG Oncology by 16.3% in the 4th quarter. Decheng Capital LLC now owns 6,371,669 shares of the company's stock worth $182,739,000 after purchasing an additional 892,859 shares during the last quarter. Vanguard Group Inc. grew its position in shares of CG Oncology by 15.3% during the 4th quarter. Vanguard Group Inc. now owns 5,861,082 shares of the company's stock worth $168,096,000 after buying an additional 779,730 shares during the period. Braidwell LP increased its stake in shares of CG Oncology by 3.5% in the 4th quarter. Braidwell LP now owns 3,283,317 shares of the company's stock valued at $94,166,000 after acquiring an additional 112,442 shares during the last quarter. Foresite Capital Management VI LLC acquired a new stake in shares of CG Oncology in the 4th quarter valued at approximately $63,712,000. Finally, Wellington Management Group LLP boosted its stake in CG Oncology by 274.4% during the 4th quarter. Wellington Management Group LLP now owns 1,910,470 shares of the company's stock worth $54,792,000 after acquiring an additional 1,400,251 shares during the last quarter. Institutional investors and hedge funds own 26.56% of the company's stock.

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.