CG Oncology's (CGON) "Buy" Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of CG Oncology (NASDAQ:CGON - Free Report) in a research note issued to investors on Friday morning,Benzinga reports. They currently have a $75.00 price target on the stock.

Other research analysts have also recently issued reports about the company. Bank of America reissued a "buy" rating and set a $65.00 price target on shares of CG Oncology in a research report on Tuesday, October 8th. TD Cowen initiated coverage on CG Oncology in a report on Tuesday. They issued a "buy" rating for the company. Royal Bank of Canada reissued an "outperform" rating and set a $66.00 target price on shares of CG Oncology in a research note on Friday, December 6th. Finally, UBS Group assumed coverage on CG Oncology in a research note on Thursday, October 24th. They issued a "buy" rating and a $60.00 target price for the company. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, CG Oncology currently has an average rating of "Buy" and a consensus target price of $63.88.

CG Oncology Trading Down 0.9 %

NASDAQ:CGON traded down $0.26 during mid-day trading on Friday, reaching $30.20. The stock had a trading volume of 810,908 shares, compared to its average volume of 730,985. The business's 50 day moving average is $32.56 and its 200 day moving average is $34.23. CG Oncology has a fifty-two week low of $25.77 and a fifty-two week high of $50.23.

CG Oncology (NASDAQ:CGON - Get Free Report) last released 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 analyst estimates 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, research analysts forecast that CG Oncology will post -1.32 EPS for the current fiscal year.

Insider Activity

In other news, Director Hong Fang Song sold 700,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $28.00, for a total transaction of $19,600,000.00. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Leonard E. Post sold 1,000 shares of the company'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 disclosure for this sale can be found here.

Hedge Funds Weigh In On CG Oncology

Large investors have recently bought and sold shares of the business. State Street Corp boosted its holdings in CG Oncology by 73.0% during the third quarter. State Street Corp now owns 1,700,653 shares of the company's stock worth $64,166,000 after buying an additional 717,722 shares in the last quarter. Ally Bridge Group NY LLC grew its position in shares of CG Oncology by 50.5% in the 3rd quarter. Ally Bridge Group NY LLC now owns 263,266 shares of the company's stock valued at $9,933,000 after buying an additional 88,390 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of CG Oncology by 114.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 379,664 shares of the company's stock valued at $14,325,000 after acquiring an additional 202,262 shares during the period. BNP Paribas Financial Markets increased its position in CG Oncology by 876.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 26,660 shares of the company's stock valued at $1,006,000 after acquiring an additional 23,931 shares during the period. Finally, Deerfield Management Company L.P. Series C raised its holdings in 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 purchasing an additional 386,000 shares in the last quarter. Institutional investors own 26.56% of the company's stock.

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.