CG Oncology (NASDAQ:CGON) Price Target Raised to $47.00

CG Oncology (NASDAQ:CGON) had its price objective increased by JPMorgan Chase & Co. from $41.00 to $47.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research analysts also recently weighed in on the company. Piper Sandler began coverage on CG Oncology in a research note on Monday, August 18th. They set an “overweight” rating and a $55.00 target price for the company. Zacks Research raised CG Oncology from a “strong sell” rating to a “hold” rating in a research note on Monday, September 1st. Wall Street Zen downgraded CG Oncology from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Morgan Stanley increased their price objective on CG Oncology from $56.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, September 17th. Finally, Jones Trading began coverage on CG Oncology in a research note on Monday, September 8th. They issued a “buy” rating and a $50.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, CG Oncology currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.55.

CG Oncology Price Performance

Shares of CGON stock opened at $37.54 on Friday. The company has a market cap of $2.86 billion, a price-to-earnings ratio of -21.21 and a beta of 0.87. The stock has a 50 day simple moving average of $29.26 and a 200-day simple moving average of $26.30. CG Oncology has a 1-year low of $14.80 and a 1-year high of $40.47.

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

Insiders Place Their Bets

In other CG Oncology news, Director James Mulay sold 3,574 shares of the firm’s stock in a transaction on Friday, September 19th. The stock was sold at an average price of $38.99, for a total value of $139,350.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Leonard E. Post sold 2,000 shares of the firm’s stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $28.00, for a total value of $56,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 152,701 shares of company stock worth $4,607,792.

Institutional Trading of CG Oncology

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Winthrop Capital Management LLC purchased a new position in shares of CG Oncology during the 2nd quarter worth $38,000. CWM LLC grew 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 purchasing an additional 2,058 shares during the period. GAMMA Investing LLC grew its holdings in shares of CG Oncology by 1,051.0% during the 1st quarter. GAMMA Investing LLC now owns 2,302 shares of the company’s stock worth $56,000 after purchasing an additional 2,102 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of CG Oncology by 15.6% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,945 shares of the company’s stock worth $77,000 after purchasing an additional 398 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in shares of CG Oncology by 15.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,279 shares of the company’s stock worth $85,000 after purchasing an additional 433 shares during the period. 26.56% of the stock is owned by institutional investors and hedge funds.

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.