Brokerages Set CG Oncology, Inc. (NASDAQ:CGON) PT at $57.70

Shares of CG Oncology, Inc. (NASDAQ:CGON) have earned a consensus recommendation of “Buy” from the twelve ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, ten have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $57.70.

Several research analysts recently issued reports on CGON shares. JPMorgan Chase & Co. assumed coverage on shares of CG Oncology in a report on Friday, May 2nd. They set an “overweight” rating and a $41.00 target price for the company. HC Wainwright restated a “buy” rating and issued a $75.00 target price on shares of CG Oncology in a research note on Monday, April 28th. Scotiabank initiated coverage on CG Oncology in a research report on Wednesday, April 16th. They set a “sector perform” rating and a $23.00 price target for the company. Morgan Stanley restated an “overweight” rating and issued a $55.00 price objective on shares of CG Oncology in a research report on Friday, March 7th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $75.00 target price on shares of CG Oncology in a report on Monday, April 28th.

CG Oncology Stock Performance

CG Oncology stock opened at $24.15 on Friday. The business’s 50-day simple moving average is $23.59 and its two-hundred day simple moving average is $28.66. The company has a market cap of $1.84 billion, a PE ratio of -17.00 and a beta of 1.08. CG Oncology has a fifty-two week low of $14.80 and a fifty-two week high of $40.47.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings results on Tuesday, March 25th. The company reported ($0.48) earnings per share 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 business had revenue of $0.46 million during the quarter, compared to analyst estimates of $0.11 million. As a group, analysts predict that CG Oncology will post -1.31 EPS for the current fiscal year.

Insider Buying and Selling

In other CG Oncology 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 at this hyperlink.

Institutional Investors Weigh In On CG Oncology

A number of large investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. acquired a new position in CG Oncology during the fourth quarter worth $41,000. CWM LLC raised its holdings in shares of 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 acquiring an additional 2,058 shares during the period. GAMMA Investing LLC grew its holdings in shares of CG Oncology by 1,051.0% in the first quarter. GAMMA Investing LLC now owns 2,302 shares of the company’s stock valued at $56,000 after purchasing an additional 2,102 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in CG Oncology during the fourth quarter worth about $68,000. Finally, KLP Kapitalforvaltning AS purchased a new position in CG Oncology during the fourth quarter worth about $100,000. 26.56% of the stock is currently owned by hedge funds and other institutional investors.

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.