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

Shares of CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) have received a consensus rating of "Buy" from the nine analysts that are presently covering the firm, Marketbeat.com reports. Eight research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $65.14.

Several research analysts have weighed in on CGON shares. TD Cowen started coverage on shares of CG Oncology in a research report on Tuesday, January 7th. They issued a "buy" rating on the stock. Royal Bank of Canada reiterated an "outperform" rating and issued a $66.00 price target on shares of CG Oncology in a research report on Friday, December 6th. HC Wainwright reiterated a "buy" rating and issued a $75.00 price target on shares of CG Oncology in a research report on Friday, January 10th. Finally, UBS Group started coverage on shares of CG Oncology in a research report on Thursday, October 24th. They issued a "buy" rating and a $60.00 price target on the stock.

CG Oncology Stock Down 1.3 %

CGON traded down $0.37 during trading on Tuesday, hitting $27.85. The company's stock had a trading volume of 369,894 shares, compared to its average volume of 554,594. CG Oncology has a one year low of $25.77 and a one year high of $48.05. The business's 50 day simple moving average is $29.22 and its 200-day simple moving average is $33.42.

Insider Activity

In other news, Director Leonard E. Post sold 1,000 shares of the firm's stock in a transaction on Friday, December 6th. The shares were sold at an average price of $34.54, for a total transaction of $34,540.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Hong Fang Song sold 700,000 shares of the firm's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $28.00, for a total transaction of $19,600,000.00. Following the sale, the director now owns 3,003,931 shares in the company, valued at $84,110,068. The trade was a 18.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 702,000 shares of company stock worth $19,664,200 in the last three months.

Institutional Trading of CG Oncology

A number of institutional investors and hedge funds have recently bought and sold shares of CGON. Foresite Capital Management VI LLC bought a new stake in CG Oncology in the 4th quarter valued at $63,712,000. Marshall Wace LLP increased its holdings in CG Oncology by 18,836.0% in the 4th quarter. Marshall Wace LLP now owns 1,458,072 shares of the company's stock valued at $41,818,000 after acquiring an additional 1,450,372 shares during the last quarter. Wellington Management Group LLP increased its holdings in CG Oncology by 274.4% in the 4th quarter. Wellington Management Group LLP now owns 1,910,470 shares of the company's stock valued at $54,792,000 after acquiring an additional 1,400,251 shares during the last quarter. Acorn Capital Advisors LLC bought a new stake in CG Oncology in the 4th quarter valued at $32,451,000. Finally, Decheng Capital LLC increased its holdings in CG Oncology by 16.3% in the 4th quarter. Decheng Capital LLC now owns 6,371,669 shares of the company's stock valued at $182,739,000 after acquiring an additional 892,859 shares during the last quarter. 26.56% of the stock is currently owned by 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.