CG Oncology's (CGON) Buy Rating Reaffirmed at HC Wainwright

CG Oncology (NASDAQ:CGON - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at HC Wainwright in a report issued on Monday,Benzinga reports. They currently have a $75.00 price objective on the stock. HC Wainwright's price target points to a potential upside of 170.37% from the stock's previous close.

A number of other analysts also recently weighed in on the company. TD Cowen initiated coverage on CG Oncology in a report on Tuesday, January 7th. They issued a "buy" rating for the company. Scotiabank began coverage on CG Oncology in a research note on Wednesday, April 16th. They issued a "sector perform" rating and a $23.00 price target for the company. Finally, Morgan Stanley restated an "overweight" rating and set a $55.00 price objective on shares of CG Oncology in a research report on Friday, March 7th. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, CG Oncology currently has an average rating of "Buy" and an average target price of $59.56.

CG Oncology Stock Up 3.0 %

Shares of NASDAQ:CGON traded up $0.80 during trading on Monday, hitting $27.74. 916,716 shares of the company were exchanged, compared to its average volume of 786,298. The business's 50 day moving average is $23.60 and its 200-day moving average is $29.07. The company has a market capitalization of $2.11 billion, a P/E ratio of -19.54 and a beta of 1.24. CG Oncology has a 1-year low of $14.80 and a 1-year high of $46.99.

CG Oncology (NASDAQ:CGON - Get Free Report) last announced its quarterly earnings results on Tuesday, March 25th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.11). The company 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%. As a group, sell-side analysts anticipate that CG Oncology will post -1.31 earnings per share for the current year.

Insider Buying and Selling at CG Oncology

In other 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 transaction of $30,760.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Hedge Funds Weigh In On CG Oncology

Institutional investors have recently modified their holdings of the company. GF Fund Management CO. LTD. acquired a new position in shares of CG Oncology during the fourth quarter worth approximately $41,000. CWM LLC raised its position in shares of CG Oncology by 3,957.7% during the first quarter. CWM LLC now owns 2,110 shares of the company's stock worth $52,000 after purchasing an additional 2,058 shares during the period. GAMMA Investing LLC raised its position in shares of CG Oncology by 1,051.0% during the first quarter. GAMMA Investing LLC now owns 2,302 shares of the company's stock worth $56,000 after purchasing an additional 2,102 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of CG Oncology during the fourth quarter worth approximately $68,000. Finally, KLP Kapitalforvaltning AS bought a new stake in CG Oncology during the fourth quarter worth $100,000. 26.56% of the stock is owned by institutional investors and hedge funds.

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.