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

HC Wainwright reissued their buy rating on shares of CG Oncology (NASDAQ:CGON) in a report issued on Tuesday,Benzinga reports. They currently have a $75.00 price objective on the stock.

A number of other brokerages have also recently issued reports on CGON. UBS Group began coverage on shares of CG Oncology in a report on Thursday, October 24th. They issued a “buy” rating and a $60.00 price objective for the company. Roth Capital upgraded shares of CG Oncology to a “strong-buy” rating in a report on Tuesday, August 27th. Roth Mkm initiated coverage on shares of CG Oncology in a research report on Tuesday, August 27th. They set a “buy” rating and a $65.00 target price for the company. Royal Bank of Canada initiated coverage on shares of CG Oncology in a research report on Monday, September 23rd. They set an “outperform” rating and a $66.00 target price for the company. Finally, Bank of America reissued a “buy” rating and set a $65.00 target price on shares of CG Oncology in a research report on Tuesday, October 8th. Eight equities research 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, CG Oncology has a consensus rating of “Buy” and an average price target of $63.88.

CG Oncology Stock Performance

CG Oncology stock opened at $35.50 on Tuesday. The company’s fifty day simple moving average is $36.80 and its 200-day simple moving average is $34.80. CG Oncology has a 12 month low of $25.77 and a 12 month high of $50.23.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.06. The business had revenue of $0.04 million during the quarter, compared to the consensus estimate of $0.30 million. On average, analysts forecast that CG Oncology will post -1.45 EPS for the current year.

Insider Buying and Selling

In related news, Director Hong Fang Song sold 650,455 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $35.36, for a total value of $23,000,088.80. Following the completion of the transaction, the director now owns 586,982 shares of the company’s stock, valued at $20,755,683.52. This represents a 52.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Institutional Trading of CG Oncology

Several large investors have recently added to or reduced their stakes in CGON. BNP Paribas Financial Markets bought a new stake in CG Oncology during the first quarter worth about $492,000. Vanguard Group Inc. bought a new stake in CG Oncology during the first quarter worth about $97,678,000. Ameritas Investment Partners Inc. bought a new stake in CG Oncology during the first quarter worth about $102,000. American International Group Inc. bought a new stake in CG Oncology during the first quarter worth about $13,443,000. Finally, Decheng Capital LLC bought a new stake in CG Oncology during the first quarter worth about $239,642,000. 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.