CG Oncology, Inc. (NASDAQ:CGON) Receives $54.30 Average Price Target from Analysts

CG Oncology, Inc. (NASDAQ:CGON) has earned a consensus rating of “Moderate Buy” from the thirteen analysts that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $53.9091.

A number of research analysts recently weighed in on the company. Piper Sandler assumed coverage on CG Oncology in a report on Monday, August 18th. They set an “overweight” rating and a $55.00 price objective on the stock. Zacks Research raised CG Oncology from a “strong sell” rating to a “hold” rating in a report on Monday, September 1st. HC Wainwright reaffirmed a “buy” rating and set a $75.00 price objective on shares of CG Oncology in a report on Friday, September 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $75.00 price objective on shares of CG Oncology in a report on Monday, September 8th. Finally, Wall Street Zen lowered CG Oncology from a “hold” rating to a “sell” rating in a report on Saturday, August 9th.

Insiders Place Their Bets

In other CG Oncology news, Director Leonard E. Post sold 2,000 shares of the business’s stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $28.00, for a total transaction of $56,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Hong Fang Song sold 100,000 shares of the business’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $27.80, for a total value of $2,780,000.00. Following the sale, the director owned 2,903,931 shares in the company, valued at approximately $80,729,281.80. The trade was a 3.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 129,015 shares of company stock worth $3,687,783. 7.40% of the stock is owned by corporate insiders.

Institutional Trading of CG Oncology

A number of institutional investors have recently bought and sold shares of CGON. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of CG Oncology by 15.6% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,945 shares of the company’s stock valued at $77,000 after acquiring an additional 398 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of CG Oncology by 15.2% in the second quarter. PNC Financial Services Group Inc. now owns 3,279 shares of the company’s stock valued at $85,000 after acquiring an additional 433 shares in the last quarter. Invesco Ltd. lifted its position in shares of CG Oncology by 2.5% in the first quarter. Invesco Ltd. now owns 27,754 shares of the company’s stock valued at $680,000 after acquiring an additional 685 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of CG Oncology by 6.5% in the first quarter. China Universal Asset Management Co. Ltd. now owns 15,270 shares of the company’s stock valued at $374,000 after acquiring an additional 930 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of CG Oncology by 0.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 258,090 shares of the company’s stock valued at $6,321,000 after acquiring an additional 933 shares in the last quarter. 26.56% of the stock is currently owned by hedge funds and other institutional investors.

CG Oncology Trading Up 0.5%

NASDAQ:CGON opened at $33.34 on Friday. The firm has a market cap of $2.54 billion, a P/E ratio of -18.84 and a beta of 0.87. The stock’s 50 day simple moving average is $27.20 and its 200-day simple moving average is $25.54. CG Oncology has a 12-month low of $14.80 and a 12-month high of $40.47.

CG Oncology (NASDAQ:CGON) last released its earnings results on Friday, August 8th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.05). CG Oncology had a negative net margin of 15,945.17% and a negative return on equity of 19.37%. Research analysts forecast that CG Oncology will post -1.31 EPS for the current fiscal year.

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.