CG Oncology, Inc. (NASDAQ:CGON) Receives $63.88 Consensus Price Target from Analysts

CG Oncology, Inc. (NASDAQ:CGONGet Free Report) has been given a consensus recommendation of “Buy” by the ten ratings firms that are covering the firm, MarketBeat Ratings reports. Nine research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $63.88.

CGON has been the topic of several analyst reports. TD Cowen initiated coverage on CG Oncology in a report on Tuesday, January 7th. They issued a “buy” rating on the stock. HC Wainwright reiterated a “buy” rating and issued a $75.00 target price on shares of CG Oncology in a report on Friday, January 10th. Bank of America reiterated a “buy” rating and issued a $65.00 target price on shares of CG Oncology in a report on Tuesday, October 8th. UBS Group initiated coverage on CG Oncology in a report on Thursday, October 24th. They issued a “buy” rating and a $60.00 target price on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $66.00 target price on shares of CG Oncology in a report on Friday, December 6th.

Check Out Our Latest Report on CGON

CG Oncology Stock Down 0.7 %

CG Oncology stock opened at $30.29 on Friday. The business has a 50 day moving average of $30.81 and a 200-day moving average of $34.06. CG Oncology has a 1 year low of $25.77 and a 1 year high of $50.23.

CG Oncology (NASDAQ:CGONGet Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.30) earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $0.30 million. On average, sell-side analysts anticipate that CG Oncology will post -1.31 EPS for the current year.

Insider Buying and Selling

In related news, Director Hong Fang Song sold 700,000 shares of the 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 in the company, valued at $84,110,068. This trade represents a 18.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Leonard E. Post sold 1,000 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $29.66, for a total value of $29,660.00. The disclosure for this sale can be found here. Insiders have sold a total of 702,000 shares of company stock worth $19,664,200 in the last ninety days.

Hedge Funds Weigh In On CG Oncology

A number of large investors have recently modified their holdings of the company. State Street Corp raised its position in CG Oncology by 73.0% in the 3rd quarter. State Street Corp now owns 1,700,653 shares of the company’s stock valued at $64,166,000 after buying an additional 717,722 shares during the last quarter. Ally Bridge Group NY LLC raised its position in CG Oncology by 50.5% in the 3rd quarter. Ally Bridge Group NY LLC now owns 263,266 shares of the company’s stock valued at $9,933,000 after buying an additional 88,390 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in CG Oncology by 114.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 379,664 shares of the company’s stock valued at $14,325,000 after buying an additional 202,262 shares during the last quarter. BNP Paribas Financial Markets raised its position in CG Oncology by 876.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 26,660 shares of the company’s stock valued at $1,006,000 after buying an additional 23,931 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in CG Oncology by 59.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 31,071 shares of the company’s stock valued at $1,172,000 after buying an additional 11,542 shares during the last quarter. 26.56% of the stock is currently owned by institutional investors.

About CG Oncology

(Get Free Report

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.

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