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

CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) has been assigned a consensus rating of "Buy" from the ten brokerages that are currently covering the stock, Marketbeat.com reports. Nine investment 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 issued ratings on the stock in the last year is $63.88.

Several equities research analysts have recently issued reports on CGON shares. Royal Bank of Canada reiterated an "outperform" rating and set a $66.00 price target on shares of CG Oncology in a report on Friday, December 6th. Bank of America reiterated a "buy" rating and issued a $65.00 target price on shares of CG Oncology in a research note on Tuesday, October 8th. HC Wainwright restated a "buy" rating and set a $75.00 price target on shares of CG Oncology in a research note on Friday, January 10th. TD Cowen started coverage on shares of CG Oncology in a research note on Tuesday, January 7th. They issued a "buy" rating for the company. Finally, UBS Group started coverage on shares of CG Oncology in a research report on Thursday, October 24th. They set a "buy" rating and a $60.00 target price on the stock.

Insiders Place Their Bets

In related news, Director Leonard E. Post sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $34.54, for a total value of $34,540.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Hong Fang Song sold 700,000 shares of the company's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $28.00, for a total value of $19,600,000.00. Following the transaction, the director now directly owns 3,003,931 shares in the company, valued at approximately $84,110,068. This represents a 18.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 702,000 shares of company stock valued at $19,664,200.

Institutional Investors Weigh In On CG Oncology

Hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp boosted its holdings in CG Oncology by 73.0% in the third quarter. State Street Corp now owns 1,700,653 shares of the company's stock valued at $64,166,000 after acquiring an additional 717,722 shares during the last quarter. Ally Bridge Group NY LLC lifted its position in CG Oncology by 50.5% during the 3rd quarter. Ally Bridge Group NY LLC now owns 263,266 shares of the company's stock valued at $9,933,000 after purchasing an additional 88,390 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of CG Oncology by 114.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 379,664 shares of the company's stock valued at $14,325,000 after purchasing an additional 202,262 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of CG Oncology by 876.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 26,660 shares of the company's stock worth $1,006,000 after buying an additional 23,931 shares during the period. Finally, Deerfield Management Company L.P. Series C raised its stake in shares of CG Oncology by 811.9% during the second quarter. Deerfield Management Company L.P. Series C now owns 433,540 shares of the company's stock worth $13,687,000 after buying an additional 386,000 shares during the last quarter. 26.56% of the stock is owned by institutional investors and hedge funds.

CG Oncology Stock Up 0.1 %

Shares of NASDAQ:CGON traded up $0.04 during mid-day trading on Friday, hitting $30.79. The stock had a trading volume of 601,668 shares, compared to its average volume of 723,811. The company's 50 day moving average is $30.92 and its 200-day moving average is $34.10. CG Oncology has a 12-month low of $25.77 and a 12-month high of $50.23.

CG Oncology (NASDAQ:CGON - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.06. The firm 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%. As a group, research analysts expect that CG Oncology will post -1.31 earnings per share for the current year.

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.