CG Oncology (NASDAQ:CGON) Rating Increased to Hold at 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 research report released on Friday.

CGON has been the subject of several other reports. Morgan Stanley lifted their target price on shares of CG Oncology from $52.00 to $56.00 and gave the company an "overweight" rating in a research report on Tuesday, June 17th. Cantor Fitzgerald reiterated an "overweight" rating and set a $75.00 target price on shares of CG Oncology in a research report on Monday, April 28th. Scotiabank assumed coverage on shares of CG Oncology in a research report on Wednesday, April 16th. They set a "sector perform" rating and a $23.00 target price for the company. JPMorgan Chase & Co. assumed coverage on shares of CG Oncology in a research report on Friday, May 2nd. They set an "overweight" rating and a $41.00 target price for the company. Finally, HC Wainwright reiterated a "buy" rating and set a $75.00 target price on shares of CG Oncology in a research report on Monday, April 28th. Two 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. According to data from MarketBeat, CG Oncology has an average rating of "Moderate Buy" and an average price target of $58.67.

CG Oncology Trading Down 0.5%

Shares of CGON stock traded down $0.12 during trading hours on Friday, reaching $25.95. The stock had a trading volume of 1,279,859 shares, compared to its average volume of 843,166. The stock's fifty day simple moving average is $25.43 and its 200 day simple moving average is $26.26. CG Oncology has a 12 month low of $14.80 and a 12 month high of $40.47. The firm has a market capitalization of $1.98 billion, a PE ratio of -17.19 and a beta of 0.86.

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

Insiders Place Their Bets

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of CG Oncology 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 7.40% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CGON. GF Fund Management CO. LTD. purchased a new position in shares of CG Oncology during the fourth quarter worth approximately $41,000. CWM LLC increased its stake 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 buying an additional 2,058 shares during the period. GAMMA Investing LLC increased its stake 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 buying an additional 2,102 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of CG Oncology in the fourth quarter worth $100,000. Finally, Federated Hermes Inc. purchased a new position in shares of CG Oncology in the fourth quarter worth $172,000. 26.56% of the stock is owned by hedge funds and other institutional investors.

About CG Oncology

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.