CG Oncology (NASDAQ:CGON) Now Covered by TD Cowen

TD Cowen started coverage on shares of CG Oncology (NASDAQ:CGON - Free Report) in a report released on Tuesday, Marketbeat.com reports. The brokerage issued a buy rating on the stock.

Other equities analysts also recently issued research reports about the stock. UBS Group initiated coverage on shares of CG Oncology in a research report on Thursday, October 24th. They set a "buy" rating and a $60.00 price objective for the company. Royal Bank of Canada restated an "outperform" rating and issued a $66.00 price objective on shares of CG Oncology in a research report on Friday, December 6th. Bank of America reiterated a "buy" rating and set a $65.00 target price on shares of CG Oncology in a research report on Tuesday, October 8th. Finally, HC Wainwright reissued a "buy" rating and issued a $75.00 price target on shares of CG Oncology in a report on Friday, December 6th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $63.88.

CG Oncology Price Performance

Shares of CGON traded up $1.29 during mid-day trading on Tuesday, hitting $31.01. 784,331 shares of the company's stock were exchanged, compared to its average volume of 708,758. CG Oncology has a fifty-two week low of $25.77 and a fifty-two week high of $50.23. The business's 50 day moving average is $32.78 and its two-hundred day moving average is $34.28.

CG Oncology (NASDAQ:CGON - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.06. CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. The company had revenue of $0.04 million for the quarter, compared to the consensus estimate of $0.30 million. On average, equities research analysts anticipate that CG Oncology will post -1.32 earnings per share for the current year.

Insider Activity at CG Oncology

In related news, Director Leonard E. Post sold 1,000 shares of the company's stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $34.54, for a total value of $34,540.00. The transaction was disclosed in a document filed with the SEC, which is accessible 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 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 of the company's stock, valued at $84,110,068. The trade was a 18.90 % decrease in their position. The disclosure for this sale can be found here.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of 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. Yu Fan acquired a new stake in CG Oncology during the second quarter worth approximately $49,828,000. Janus Henderson Group PLC grew its stake in CG Oncology by 7.0% in the 3rd quarter. Janus Henderson Group PLC now owns 1,526,534 shares of the company's stock worth $57,596,000 after acquiring an additional 99,517 shares during the period. Franklin Resources Inc. raised its holdings in CG Oncology by 8.9% in the 3rd quarter. Franklin Resources Inc. now owns 1,230,193 shares of the company's stock valued at $46,157,000 after acquiring an additional 100,106 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of CG Oncology by 96.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,078,527 shares of the company's stock worth $40,701,000 after purchasing an additional 528,749 shares during the period. Institutional investors and hedge funds own 26.56% of the company's stock.

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.