Wall Street Zen Upgrades CG Oncology (NASDAQ:CGON) to Hold

Wall Street Zen upgraded shares of CG Oncology (NASDAQ:CGON) from a sell rating to a hold rating in a research note published on Friday morning.

A number of other brokerages have also weighed in on CGON. Weiss Ratings restated a “sell (d-)” rating on shares of CG Oncology in a research report on Saturday, September 27th. Piper Sandler began coverage on shares of CG Oncology in a report on Monday, August 18th. They set an “overweight” rating and a $55.00 price objective for the company. The Goldman Sachs Group upgraded CG Oncology to a “strong-buy” rating and set a $40.00 price objective for the company in a research report on Thursday, July 10th. Zacks Research upgraded CG Oncology from a “strong sell” rating to a “hold” rating in a research report on Monday, September 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $75.00 price target on shares of CG Oncology in a research note on Monday, September 8th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.55.

CG Oncology Trading Down 0.1%

Shares of CGON opened at $39.82 on Friday. The business’s 50 day moving average is $30.60 and its 200 day moving average is $26.72. CG Oncology has a 12-month low of $14.80 and a 12-month high of $40.65. The company has a market capitalization of $3.04 billion, a PE ratio of -22.50 and a beta of 1.31.

CG Oncology (NASDAQ:CGON) last posted its quarterly 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%. Equities research analysts predict that CG Oncology will post -1.31 earnings per share for the current year.

Insider Activity at CG Oncology

In related news, Director Leonard E. Post sold 2,000 shares of the stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $28.00, for a total value of $56,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Leonard E. Post sold 5,000 shares of CG Oncology stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $40.09, for a total transaction of $200,450.00. The disclosure for this sale can be found here. Insiders have sold a total of 170,456 shares of company stock valued at $5,308,111 over the last three months.

Hedge Funds Weigh In On CG Oncology

Several hedge funds have recently made changes to their positions in the company. Winthrop Capital Management LLC purchased a new position in CG Oncology in the 2nd quarter worth $38,000. CWM LLC raised its position in 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 buying an additional 2,058 shares during the last quarter. GAMMA Investing LLC increased its stake 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 worth $56,000 after acquiring an additional 2,102 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of CG Oncology by 15.6% during the second 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 last quarter. Finally, PNC Financial Services Group Inc. lifted its position in CG Oncology by 15.2% during the second quarter. PNC Financial Services Group Inc. now owns 3,279 shares of the company’s stock valued at $85,000 after purchasing an additional 433 shares during the period. 26.56% of the stock is owned by institutional investors and hedge funds.

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.