HC Wainwright Reaffirms "Buy" Rating for CG Oncology (NASDAQ:CGON)

HC Wainwright reiterated their buy rating on shares of CG Oncology (NASDAQ:CGON - Free Report) in a research note published on Tuesday,Benzinga reports. The brokerage currently has a $75.00 target price on the stock.

Other analysts also recently issued research reports about the stock. Morgan Stanley reaffirmed an "overweight" rating and issued a $55.00 price objective on shares of CG Oncology in a research report on Friday, March 7th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $66.00 price target on shares of CG Oncology in a research note on Friday, December 6th. Finally, TD Cowen began coverage on shares of CG Oncology in a research report on Tuesday, January 7th. They issued a "buy" rating for the company. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, CG Oncology currently has an average rating of "Buy" and an average price target of $63.88.

CG Oncology Trading Down 1.9 %

Shares of CG Oncology stock traded down $0.52 during trading hours on Tuesday, reaching $26.42. 729,101 shares of the company's stock were exchanged, compared to its average volume of 651,219. CG Oncology has a 52-week low of $23.91 and a 52-week high of $46.99. The company has a fifty day moving average of $27.91 and a 200-day moving average of $31.83.

Remove Ads

CG Oncology (NASDAQ:CGON - Get Free Report) last announced its quarterly earnings results on Tuesday, March 25th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.11). The company had revenue of $0.46 million during the quarter, compared to analyst estimates of $0.11 million. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. Analysts anticipate that CG Oncology will post -1.31 earnings per share for the current year.

Insider Transactions at CG Oncology

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $29.66, for a total transaction of $29,660.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Investors Weigh In On CG Oncology

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

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.