Royal Bank of Canada Begins Coverage on CG Oncology (NASDAQ:CGON)

Royal Bank of Canada assumed coverage on shares of CG Oncology (NASDAQ:CGON) in a report released on Monday morning, MarketBeat reports. The firm issued an outperform rating and a $66.00 target price on the stock.

Other equities analysts have also issued research reports about the company. HC Wainwright reissued a buy rating and issued a $75.00 price objective on shares of CG Oncology in a research note on Tuesday, September 17th. Roth Mkm initiated coverage on shares of CG Oncology in a report on Tuesday, August 27th. They set a buy rating and a $65.00 price objective on the stock. Roth Capital raised shares of CG Oncology to a strong-buy rating in a research note on Tuesday, August 27th. Finally, Bank of America began coverage on shares of CG Oncology in a research note on Friday, June 28th. They set a buy rating and a $65.00 price target on the stock. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Buy and a consensus target price of $64.43.

CG Oncology Stock Performance

Shares of NASDAQ:CGON opened at $36.78 on Monday. The company’s fifty day moving average is $35.26 and its 200-day moving average is $35.29. CG Oncology has a 52 week low of $25.77 and a 52 week high of $50.23.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.14. The firm had revenue of $0.11 million for the quarter. As a group, equities research analysts anticipate that CG Oncology will post -1.47 earnings per share for the current fiscal year.

Insider Activity at CG Oncology

In other CG Oncology news, Director Hong Fang Song sold 650,455 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $35.36, for a total transaction of $23,000,088.80. Following the completion of the sale, the director now owns 586,982 shares in the company, valued at approximately $20,755,683.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Investors Weigh In On CG Oncology

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Decheng Capital LLC bought a new position in CG Oncology during the first quarter worth about $239,642,000. Vanguard Group Inc. bought a new position in CG Oncology during the 1st quarter worth approximately $97,678,000. BVF Inc. IL acquired a new position in CG Oncology during the first quarter valued at approximately $82,716,000. Yu Fan bought a new stake in CG Oncology in the second quarter valued at approximately $49,828,000. Finally, Janus Henderson Group PLC acquired a new stake in CG Oncology in the first quarter worth $66,757,000. Institutional investors own 26.56% of the company’s stock.

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.