CG Oncology, Inc. (NASDAQ:CGON) Receives Consensus Rating of "Buy" from Brokerages

CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) has been given a consensus recommendation of "Buy" by the nine analysts that are presently covering the company, MarketBeat.com reports. Eight investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $63.88.

CGON has been the topic of several research reports. Roth Mkm initiated coverage on CG Oncology in a report on Tuesday, August 27th. They issued a "buy" rating and a $65.00 price target on the stock. Roth Capital raised CG Oncology to a "strong-buy" rating in a report on Tuesday, August 27th. Bank of America reaffirmed a "buy" rating and issued a $65.00 price target on shares of CG Oncology in a report on Tuesday, October 8th. HC Wainwright reissued a "buy" rating and set a $75.00 target price on shares of CG Oncology in a research note on Tuesday, November 12th. Finally, Royal Bank of Canada initiated coverage on shares of CG Oncology in a research note on Monday, September 23rd. They set an "outperform" rating and a $66.00 target price on the stock.

CG Oncology Stock Down 6.5 %

CG Oncology stock traded down $2.35 during midday trading on Thursday, hitting $33.56. The stock had a trading volume of 1,903,636 shares, compared to its average volume of 645,963. CG Oncology has a 12 month low of $25.77 and a 12 month high of $50.23. The business has a fifty day moving average price of $35.84 and a 200 day moving average price of $34.84.

CG Oncology (NASDAQ:CGON - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, beating analysts' consensus estimates of ($0.36) by $0.06. The company had revenue of $0.04 million during the quarter, compared to the consensus estimate of $0.30 million. CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. On average, sell-side analysts forecast that CG Oncology will post -1.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CG Oncology

A number of hedge funds have recently modified their holdings of CGON. California State Teachers Retirement System acquired a new position in shares of CG Oncology in the first quarter worth $103,000. Bank of New York Mellon Corp increased its stake in shares of CG Oncology by 38.4% in the second quarter. Bank of New York Mellon Corp now owns 89,344 shares of the company's stock worth $2,821,000 after acquiring an additional 24,801 shares during the last quarter. Rhumbline Advisers increased its stake in shares of CG Oncology by 13.0% in the second quarter. Rhumbline Advisers now owns 34,229 shares of the company's stock worth $1,081,000 after acquiring an additional 3,940 shares during the last quarter. TD Asset Management Inc acquired a new position in shares of CG Oncology in the second quarter worth $2,939,000. Finally, Massachusetts Financial Services Co. MA boosted its holdings in CG Oncology by 2.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 266,787 shares of the company's stock worth $8,422,000 after purchasing an additional 6,899 shares in the last quarter. 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.