CG Oncology, Inc. (NASDAQ:CGON) Given Consensus Recommendation of “Buy” by Brokerages

Shares of CG Oncology, Inc. (NASDAQ:CGON) have received a consensus recommendation of “Buy” from the eleven brokerages that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $58.22.

Several equities analysts recently issued reports on CGON shares. HC Wainwright reiterated a “buy” rating and issued a $75.00 price objective on shares of CG Oncology in a research report on Monday, April 28th. Scotiabank initiated coverage on CG Oncology in a research report on Wednesday, April 16th. They issued a “sector perform” rating and a $23.00 price objective for the company. Morgan Stanley reduced their price target on CG Oncology from $55.00 to $52.00 and set an “overweight” rating for the company in a research report on Monday, May 19th. Royal Bank of Canada upped their price target on CG Oncology from $66.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $75.00 price target on shares of CG Oncology in a research report on Monday, April 28th.

CG Oncology Stock Performance

Shares of CGON opened at $26.59 on Thursday. The stock has a 50 day simple moving average of $23.05 and a 200 day simple moving average of $27.20. CG Oncology has a 52-week low of $14.80 and a 52-week high of $40.47. The firm has a market capitalization of $2.03 billion, a PE ratio of -17.61 and a beta of 1.08.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.09). CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. The business had revenue of $0.05 million during the quarter, compared to analyst estimates of $0.53 million. Equities research analysts predict that CG Oncology will post -1.31 EPS for the current fiscal year.

Insider Activity

In related news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction on Monday, April 28th. The stock was sold at an average price of $30.76, for a total value of $30,760.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On CG Oncology

A number of large investors have recently added to or reduced their stakes in CGON. GF Fund Management CO. LTD. bought a new stake in CG Oncology in the 4th quarter valued at $41,000. CWM LLC increased its position in CG Oncology by 3,957.7% during the 1st quarter. CWM LLC now owns 2,110 shares of the company’s stock worth $52,000 after buying an additional 2,058 shares during the period. GAMMA Investing LLC increased its position in CG Oncology by 1,051.0% during the 1st quarter. GAMMA Investing LLC now owns 2,302 shares of the company’s stock worth $56,000 after buying an additional 2,102 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in CG Oncology during the 4th quarter worth $68,000. Finally, KLP Kapitalforvaltning AS bought a new position in CG Oncology during the 4th quarter worth $100,000. Institutional investors own 26.56% of the company’s stock.

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.