CG Oncology (NASDAQ:CGON) Research Coverage Started at Wedbush

Wedbush assumed coverage on shares of CG Oncology (NASDAQ:CGON) in a research note issued to investors on Thursday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $70.00 target price on the stock.

Several other equities research analysts have also recently weighed in on CGON. Guggenheim assumed coverage on shares of CG Oncology in a research note on Tuesday, October 7th. They issued a “buy” rating and a $90.00 target price for the company. Piper Sandler assumed coverage on CG Oncology in a research report on Monday, August 18th. They issued an “overweight” rating and a $55.00 price objective for the company. Royal Bank Of Canada boosted their price objective on CG Oncology from $53.00 to $61.00 and gave the company an “outperform” rating in a research report on Monday, November 17th. Wall Street Zen raised CG Oncology from a “sell” rating to a “hold” rating in a research report on Friday, October 3rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of CG Oncology from $41.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $60.58.

CG Oncology Stock Down 1.6%

Shares of CGON stock opened at $40.94 on Thursday. CG Oncology has a 12 month low of $14.80 and a 12 month high of $46.01. The firm has a market cap of $3.30 billion, a PE ratio of -20.07 and a beta of 1.29. The stock has a 50 day moving average of $42.01 and a 200-day moving average of $33.31.

CG Oncology (NASDAQ:CGON) last announced its earnings results on Friday, November 14th. The company reported ($0.57) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.57). The business had revenue of $0.16 million for the quarter, compared to analyst estimates of $0.07 million. CG Oncology had a negative net margin of 15,945.17% and a negative return on equity of 21.67%. As a group, equities analysts predict that CG Oncology will post -1.31 EPS for the current fiscal year.

Insider Buying and Selling at CG Oncology

In other news, Director Leonard E. Post sold 1,000 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $41.43, for a total value of $41,430.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director James Mulay sold 5,903 shares of the company’s stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $43.99, for a total transaction of $259,672.97. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 48,344 shares of company stock worth $1,921,431. 7.40% of the stock is owned by insiders.

Hedge Funds Weigh In On CG Oncology

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in CG Oncology by 15.6% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,945 shares of the company’s stock worth $77,000 after buying an additional 398 shares during the last quarter. PNC Financial Services Group Inc. grew its position in CG Oncology by 15.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,279 shares of the company’s stock worth $85,000 after acquiring an additional 433 shares during the last quarter. CWM LLC increased its holdings in CG Oncology by 10.9% during the 3rd quarter. CWM LLC now owns 6,865 shares of the company’s stock valued at $277,000 after purchasing an additional 672 shares in the last quarter. Invesco Ltd. raised its position in CG Oncology by 2.5% in the 1st quarter. Invesco Ltd. now owns 27,754 shares of the company’s stock valued at $680,000 after purchasing an additional 685 shares during the last quarter. Finally, Strengthening Families & Communities LLC acquired a new position in CG Oncology in the third quarter worth $40,000. 26.56% of the stock is currently owned by institutional investors and hedge funds.

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.