CG Oncology, Inc. (NASDAQ:CGON) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Shares of CG Oncology, Inc. (NASDAQ:CGON) have received a consensus rating of “Moderate Buy” from the ten ratings firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $87.50.

Several equities analysts have recently commented on the company. Wall Street Zen lowered CG Oncology from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Piper Sandler boosted their price objective on shares of CG Oncology from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Truist Financial upped their target price on shares of CG Oncology from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CG Oncology in a research note on Friday, July 17th. Finally, HC Wainwright reiterated a “buy” rating and set a $100.00 price target on shares of CG Oncology in a research report on Wednesday, July 29th.

Insiders Place Their Bets

In related news, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $72.98, for a total value of $72,980.00. Following the completion of the transaction, the director owned 1,000 shares in the company, valued at approximately $72,980. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CGON. Fiduciary Financial Advisors purchased a new stake in shares of CG Oncology in the 2nd quarter valued at approximately $28,000. NFSG Corp acquired a new position in shares of CG Oncology during the first quarter worth $34,000. Fifth Third Bancorp acquired a new position in shares of CG Oncology during the first quarter worth $74,000. GAMMA Investing LLC grew its stake in shares of CG Oncology by 47.9% during the third quarter. GAMMA Investing LLC now owns 1,081 shares of the company’s stock worth $77,000 after purchasing an additional 350 shares in the last quarter. Finally, KBC Group NV purchased a new position in CG Oncology in the first quarter valued at $78,000. Hedge funds and other institutional investors own 26.56% of the company’s stock.

CG Oncology Trading Up 0.0%

NASDAQ:CGON opened at $61.86 on Friday. The stock has a 50 day moving average of $72.57 and a two-hundred day moving average of $69.00. CG Oncology has a 12 month low of $35.80 and a 12 month high of $80.97. The firm has a market cap of $5.48 billion, a P/E ratio of -23.00 and a beta of 0.28.

CG Oncology (NASDAQ:CGON) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.24). CG Oncology had a negative return on equity of 25.20% and a negative net margin of 3,602.68%. The business had revenue of $1.16 million during the quarter, compared to analysts’ expectations of $0.36 million. On average, research analysts forecast that CG Oncology will post -3.31 earnings per share for the current year.

CG Oncology Company Profile

CG Oncology, Inc (NASDAQ: CGON) is a clinical-stage biopharmaceutical company focused on developing therapies for bladder cancer and other cancers of the urinary tract. The company’s research centers on cancer-directed immunotherapies designed to stimulate the immune system and target tumor cells.

Its lead product candidate is cretostimogene grenadenorepvec, an intravesical oncolytic adenovirus being studied for the treatment of non-muscle-invasive bladder cancer (NMIBC). The therapy is designed to be delivered directly into the bladder, where it may selectively infect tumor cells and activate an immune response against cancer.

CG Oncology has evaluated cretostimogene in clinical studies involving patients with NMIBC, including individuals whose disease has not responded adequately to Bacillus Calmette-Guérin (BCG), a standard bladder cancer treatment.