CG Oncology (NASDAQ:CGON - Get Free Report)'s stock had its "overweight" rating reiterated by analysts at Morgan Stanley in a research note issued to investors on Friday, Marketbeat.com reports. They currently have a $55.00 price target on the stock. Morgan Stanley's price target would indicate a potential upside of 109.13% from the company's previous close.
A number of other research analysts have also weighed in on CGON. Royal Bank of Canada reissued an "outperform" rating and set a $66.00 price target on shares of CG Oncology in a research report on Friday, December 6th. TD Cowen initiated coverage on shares of CG Oncology in a research report on Tuesday, January 7th. They set a "buy" rating on the stock. Finally, HC Wainwright restated a "buy" rating and issued a $75.00 target price on shares of CG Oncology in a research note on Friday, January 10th. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $63.88.
Read Our Latest Analysis on CG Oncology
CG Oncology Stock Up 0.4 %
Shares of NASDAQ:CGON traded up $0.11 during mid-day trading on Friday, hitting $26.30. 669,366 shares of the company traded hands, compared to its average volume of 585,782. The stock has a 50-day moving average price of $28.56 and a two-hundred day moving average price of $32.75. CG Oncology has a 12-month low of $23.91 and a 12-month high of $46.99.
Insider Activity
In related news, Director Hong Fang Song sold 700,000 shares of CG Oncology stock in a transaction dated 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 completion of the sale, the director now owns 3,003,931 shares of the company's stock, valued at approximately $84,110,068. This trade represents a 18.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Leonard E. Post sold 1,000 shares of the company's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $29.66, for a total transaction of $29,660.00. The disclosure for this sale can be found here.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the business. NEOS Investment Management LLC lifted its position in shares of CG Oncology by 10.9% during the fourth quarter. NEOS Investment Management LLC now owns 8,329 shares of the company's stock worth $239,000 after acquiring an additional 817 shares in the last quarter. Amalgamated Bank grew its position in shares of CG Oncology by 107.6% in the third quarter. Amalgamated Bank now owns 1,621 shares of the company's stock valued at $61,000 after purchasing an additional 840 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of CG Oncology by 3.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,080 shares of the company's stock valued at $862,000 after purchasing an additional 1,026 shares during the period. GF Fund Management CO. LTD. purchased a new stake in CG Oncology during the 4th quarter worth about $41,000. Finally, Rhumbline Advisers boosted its stake in CG Oncology by 2.2% in the 4th quarter. Rhumbline Advisers now owns 69,016 shares of the company's stock worth $1,979,000 after purchasing an additional 1,458 shares during the period. 26.56% of the stock is owned by institutional investors.
CG Oncology Company Profile
(
Get Free Report)
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.
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