CG Oncology’s (CGON) Outperform Rating Reaffirmed at Royal Bank of Canada

CG Oncology (NASDAQ:CGON)‘s stock had its “outperform” rating restated by equities researchers at Royal Bank of Canada in a report issued on Friday,Benzinga reports. They currently have a $66.00 price objective on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 96.66% from the stock’s current price.

CGON has been the topic of several other research reports. Bank of America restated a “buy” rating and issued a $65.00 price objective on shares of CG Oncology in a research note on Tuesday, October 8th. UBS Group started coverage on CG Oncology in a research note on Thursday, October 24th. They issued a “buy” rating and a $60.00 price objective on the stock. Roth Capital upgraded CG Oncology to a “strong-buy” rating in a research note on Tuesday, August 27th. Roth Mkm started coverage on CG Oncology in a research note on Tuesday, August 27th. They issued a “buy” rating and a $65.00 price objective on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $75.00 price objective on shares of CG Oncology in a research note on Friday. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $63.88.

CG Oncology Trading Down 6.5 %

NASDAQ CGON traded down $2.35 on Friday, reaching $33.56. The company had a trading volume of 1,903,696 shares, compared to its average volume of 645,963. The stock’s 50 day moving average is $35.84 and its 200-day moving average is $34.84. CG Oncology has a 52 week low of $25.77 and a 52 week high of $50.23.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.06. CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. The company had revenue of $0.04 million during the quarter, compared to the consensus estimate of $0.30 million. Research analysts forecast that CG Oncology will post -1.31 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Amalgamated Bank raised its position in shares of CG Oncology by 107.6% in the 3rd quarter. Amalgamated Bank now owns 1,621 shares of the company’s stock worth $61,000 after acquiring an additional 840 shares in the last quarter. California State Teachers Retirement System bought a new position in shares of CG Oncology in the 1st quarter worth about $103,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of CG Oncology in the 3rd quarter worth about $241,000. Profund Advisors LLC bought a new position in shares of CG Oncology in the 2nd quarter worth about $300,000. Finally, HighVista Strategies LLC bought a new stake in CG Oncology in the 3rd quarter valued at about $594,000. 26.56% of the stock is owned by institutional investors.

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.