CG Oncology (NASDAQ:CGON) Stock Rating Upgraded by Wall Street Zen

Wall Street Zen upgraded shares of CG Oncology (NASDAQ:CGON - Free Report) from a sell rating to a hold rating in a report issued on Friday morning.

Several other brokerages have also weighed in on CGON. Cantor Fitzgerald restated an "overweight" rating and set a $75.00 target price on shares of CG Oncology in a research report on Monday, April 28th. Morgan Stanley upped their price target on shares of CG Oncology from $52.00 to $56.00 and gave the company an "overweight" rating in a report on Tuesday, June 17th. Scotiabank started coverage on shares of CG Oncology in a report on Wednesday, April 16th. They issued a "sector perform" rating and a $23.00 price target on the stock. Royal Bank Of Canada upped their price target on shares of CG Oncology from $66.00 to $68.00 and gave the company an "outperform" rating in a report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. started coverage on shares of CG Oncology in a report on Friday, May 2nd. They issued an "overweight" rating and a $41.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $58.67.

CG Oncology Trading Up 0.2%

Shares of CG Oncology stock traded up $0.05 on Friday, reaching $26.00. 705,724 shares of the stock were exchanged, compared to its average volume of 842,616. CG Oncology has a 1-year low of $14.80 and a 1-year high of $40.47. The business has a fifty day moving average price of $25.43 and a two-hundred day moving average price of $26.24.

CG Oncology (NASDAQ:CGON - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.09). CG Oncology had a negative return on equity of 16.71% and a negative net margin of 15,945.17%. The firm had revenue of $0.05 million for the quarter, compared to analyst estimates of $0.53 million. As a group, equities research analysts anticipate that CG Oncology will post -1.31 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Leonard E. Post sold 1,000 shares of the company's stock in a transaction that occurred on Monday, April 28th. The shares were 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 Securities & Exchange Commission, which is available at the SEC website.

Hedge Funds Weigh In On CG Oncology

Institutional investors and hedge funds have recently bought and sold shares of the stock. GF Fund Management CO. LTD. acquired a new position in CG Oncology during the fourth quarter worth approximately $41,000. CWM LLC increased its position in shares of CG Oncology by 3,957.7% in the first quarter. CWM LLC now owns 2,110 shares of the company's stock worth $52,000 after acquiring an additional 2,058 shares in the last quarter. GAMMA Investing LLC increased its position in shares of CG Oncology by 1,051.0% in the first quarter. GAMMA Investing LLC now owns 2,302 shares of the company's stock worth $56,000 after acquiring an additional 2,102 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of CG Oncology in the fourth quarter worth $100,000. Finally, Federated Hermes Inc. acquired a new stake in shares of CG Oncology in the fourth quarter worth $172,000. 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.