CG Oncology (NASDAQ:CGON) Coverage Initiated by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. began coverage on shares of CG Oncology (NASDAQ:CGON) in a research report sent to investors on Friday, Marketbeat reports. The firm issued an overweight rating and a $41.00 price objective on the stock.

A number of other equities research analysts also recently weighed in on the company. HC Wainwright restated a “buy” rating and set a $75.00 price target on shares of CG Oncology in a research report on Monday, April 28th. Scotiabank began coverage on CG Oncology in a research report on Wednesday, April 16th. They issued a “sector perform” rating and a $23.00 target price for the company. Royal Bank of Canada increased their price target on shares of CG Oncology from $66.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday. Cantor Fitzgerald reissued an “overweight” rating and set a $75.00 price target on shares of CG Oncology in a research note on Monday, April 28th. Finally, TD Cowen assumed coverage on shares of CG Oncology in a research note on Tuesday, January 7th. They issued a “buy” rating for the company. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $57.70.

CG Oncology Stock Performance

Shares of CGON stock opened at $29.05 on Friday. The company has a market capitalization of $2.21 billion, a PE ratio of -20.46 and a beta of 1.24. CG Oncology has a 52-week low of $14.80 and a 52-week high of $46.99. The business’s fifty day moving average is $23.68 and its 200 day moving average is $29.01.

CG Oncology (NASDAQ:CGON) last released its quarterly earnings results on Tuesday, March 25th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $0.46 million during the quarter, compared to analysts’ expectations of $0.11 million. On average, sell-side analysts forecast 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 business’s stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $30.76, for a total transaction of $30,760.00. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Institutional Investors Weigh In On CG Oncology

Several institutional investors and hedge funds have recently bought and sold shares of the business. Foresite Capital Management VI LLC bought a new position in shares of CG Oncology during the fourth quarter valued at approximately $63,712,000. Marshall Wace LLP raised its holdings in CG Oncology by 18,836.0% in the 4th quarter. Marshall Wace LLP now owns 1,458,072 shares of the company’s stock worth $41,818,000 after purchasing an additional 1,450,372 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of CG Oncology by 274.4% in the 4th quarter. Wellington Management Group LLP now owns 1,910,470 shares of the company’s stock worth $54,792,000 after purchasing an additional 1,400,251 shares during the period. Acorn Capital Advisors LLC bought a new stake in shares of CG Oncology during the 4th quarter valued at about $32,451,000. Finally, Decheng Capital LLC raised its stake in CG Oncology by 16.3% in the fourth quarter. Decheng Capital LLC now owns 6,371,669 shares of the company’s stock worth $182,739,000 after buying an additional 892,859 shares in the last quarter. 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.