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

HC Wainwright reiterated their buy rating on shares of CG Oncology (NASDAQ:CGON) in a research note issued to investors on Monday,Benzinga reports. They currently have a $75.00 price objective on the stock.

A number of other research analysts have also recently issued reports on CGON. Morgan Stanley reaffirmed an “overweight” rating and set a $55.00 price objective on shares of CG Oncology in a research note on Friday, March 7th. TD Cowen started coverage on CG Oncology in a research report on Tuesday, January 7th. They set a “buy” rating on the stock. Finally, Scotiabank assumed coverage on CG Oncology in a research note on Wednesday, April 16th. They issued a “sector perform” rating and a $23.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $59.56.

CG Oncology Stock Performance

CG Oncology stock opened at $26.94 on Monday. CG Oncology has a fifty-two week low of $14.80 and a fifty-two week high of $46.99. The stock has a market cap of $2.05 billion, a P/E ratio of -18.97 and a beta of 1.24. The firm’s fifty day moving average price is $23.58 and its 200-day moving average price is $29.14.

CG Oncology (NASDAQ:CGON) last issued its 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). CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. The firm had revenue of $0.46 million during the quarter, compared to analysts’ expectations of $0.11 million. On average, analysts predict that CG Oncology will post -1.31 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $30.76, for a total value of $30,760.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CGON. GF Fund Management CO. LTD. purchased a new position in shares of CG Oncology in the 4th quarter valued at approximately $41,000. Mirae Asset Global Investments Co. Ltd. bought a new position in CG Oncology in the fourth quarter worth $68,000. GAMMA Investing LLC lifted its position in CG Oncology by 1,051.0% during the first quarter. GAMMA Investing LLC now owns 2,302 shares of the company’s stock valued at $56,000 after buying an additional 2,102 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of CG Oncology during the 4th quarter valued at $100,000. Finally, Federated Hermes Inc. purchased a new stake in shares of CG Oncology in the 4th quarter worth about $172,000. Hedge funds and other institutional investors own 26.56% of the company’s stock.

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.