CG Oncology, Inc. (NASDAQ:CGON) Receives Consensus Rating of “Buy” from Brokerages

CG Oncology, Inc. (NASDAQ:CGON) has received an average recommendation of “Buy” from the eight research firms that are covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $64.43.

CGON has been the subject of a number of recent analyst reports. Roth Mkm initiated coverage on CG Oncology in a research report on Tuesday, August 27th. They issued a “buy” rating and a $65.00 target price for the company. Roth Capital upgraded shares of CG Oncology to a “strong-buy” rating in a research report on Tuesday, August 27th. Bank of America started coverage on shares of CG Oncology in a research report on Friday, June 28th. They issued a “buy” rating and a $65.00 target price for the company. HC Wainwright reissued a “buy” rating and set a $75.00 price target on shares of CG Oncology in a report on Tuesday, September 17th. Finally, Royal Bank of Canada assumed coverage on CG Oncology in a report on Monday. They issued an “outperform” rating and a $66.00 price objective for the company.

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 dated Thursday, August 29th. The stock was sold at an average price of $35.36, for a total value of $23,000,088.80. Following the completion of the sale, the director now owns 586,982 shares in the company, valued at $20,755,683.52. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Hedge Funds Weigh In On CG Oncology

Several large investors have recently added to or reduced their stakes in CGON. Ameritas Investment Partners Inc. bought a new position in shares of CG Oncology in the first quarter worth about $102,000. California State Teachers Retirement System bought a new position in CG Oncology in the 1st quarter worth approximately $103,000. Rhumbline Advisers grew its holdings in CG Oncology by 13.0% during the 2nd quarter. Rhumbline Advisers now owns 34,229 shares of the company’s stock valued at $1,081,000 after buying an additional 3,940 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of CG Oncology by 2.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 266,787 shares of the company’s stock valued at $8,422,000 after buying an additional 6,899 shares during the last quarter. Finally, Profund Advisors LLC purchased a new position in shares of CG Oncology in the second quarter worth $300,000. Hedge funds and other institutional investors own 26.56% of the company’s stock.

CG Oncology Trading Down 0.9 %

Shares of NASDAQ CGON opened at $36.20 on Friday. The firm’s 50 day moving average price is $35.26 and its 200-day moving average price is $35.27. CG Oncology has a 52-week low of $25.77 and a 52-week high of $50.23.

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

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.