CG Oncology (NASDAQ:CGON) Given New $84.00 Price Target at Wedbush

CG Oncology (NASDAQ:CGON) had its target price increased by Wedbush from $80.00 to $84.00 in a report issued on Friday morning,Benzinga reports. Wedbush currently has an outperform rating on the stock.

Several other analysts have also issued reports on CGON. Weiss Ratings restated a “sell (d-)” rating on shares of CG Oncology in a research note on Thursday, October 15th. Piper Sandler lifted their target price on CG Oncology from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Royal Bank Of Canada decreased their target price on CG Oncology from $81.00 to $79.00 and set an “outperform” rating on the stock in a report on Friday, August 7th. Truist Financial boosted their target price on CG Oncology from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Finally, HC Wainwright restated a “buy” rating and issued a $100.00 price target on shares of CG Oncology in a research note on Wednesday, July 29th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

CG Oncology Trading Down 3.0%

Shares of CG Oncology stock traded down $2.31 during trading on Friday, hitting $73.68. 143,267 shares of the stock were exchanged, compared to its average volume of 1,088,448. The stock has a market capitalization of $6.53 billion, a price-to-earnings ratio of -27.02 and a beta of 0.35. The company has a fifty day moving average price of $68.23 and a 200-day moving average price of $66.09. CG Oncology has a 1-year low of $35.80 and a 1-year high of $80.97.

CG Oncology (NASDAQ:CGON) last issued its earnings results on Friday, November 6th. The company reported ($0.64) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.19. CG Oncology had a negative net margin of 3,851.09% and a negative return on equity of 24.79%. The company had revenue of $1.60 million for the quarter, compared to analysts’ expectations of $0.55 million. Equities research analysts forecast that CG Oncology will post -3.31 EPS for the current fiscal year.

Insider Activity

In other news, Director Leonard E. Post sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $62.06, for a total value of $62,060.00. Following the transaction, the director owned 1,000 shares of the company’s stock, valued at approximately $62,060. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 3,000 shares of company stock worth $209,580 in the last three months. Insiders own 4.80% of the company’s stock.

Institutional Trading of CG Oncology

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in CG Oncology during the 2nd quarter worth $444,509,000. Seven Fleet Capital Management LP lifted its position in shares of CG Oncology by 24.5% during the 2nd quarter. Seven Fleet Capital Management LP now owns 1,886,236 shares of the company’s stock valued at $134,017,000 after acquiring an additional 371,085 shares during the period. Bank of America Corp DE lifted its position in shares of CG Oncology by 21.8% during the 1st quarter. Bank of America Corp DE now owns 1,449,364 shares of the company’s stock valued at $98,093,000 after acquiring an additional 259,311 shares during the period. EcoR1 Capital LLC lifted its position in shares of CG Oncology by 3.5% during the 1st quarter. EcoR1 Capital LLC now owns 1,102,000 shares of the company’s stock valued at $74,583,000 after acquiring an additional 37,200 shares during the period. Finally, Jefferies Financial Group Inc. grew its holdings in shares of CG Oncology by 8.5% during the 3rd quarter. Jefferies Financial Group Inc. now owns 835,342 shares of the company’s stock worth $59,217,000 after purchasing an additional 65,395 shares in the last quarter. 26.56% of the stock is currently owned by institutional investors.

CG Oncology Company Profile

CG Oncology is a clinical-stage biotechnology company focused on developing treatments for bladder cancer. Based in Irvine, California, the company’s research centers on therapies delivered directly into the bladder.

Its lead investigational therapy, cretostimogene grenadenorepvec (formerly CG0070), is an oncolytic immunotherapy being developed for non-muscle-invasive bladder cancer, including disease that has not responded to Bacillus Calmette-Guérin (BCG) treatment. The modified virus is designed to target cancer cells and stimulate an immune response.

CG Oncology has no approved commercial products.