CG Oncology (NASDAQ:CGON) Coverage Initiated at Bank of America

Bank of America began coverage on shares of CG Oncology (NASDAQ:CGON) in a research note issued on Friday, MarketBeat Ratings reports. The firm set a “buy” rating and a $65.00 price target on the stock. Bank of America‘s target price would indicate a potential upside of 105.89% from the company’s current price.

CGON has been the subject of a number of other reports. HC Wainwright reissued a “buy” rating and set a $75.00 price target on shares of CG Oncology in a research report on Tuesday, May 28th. Cantor Fitzgerald reissued an “overweight” rating and set a $75.00 price objective on shares of CG Oncology in a report on Thursday, May 2nd. Finally, The Goldman Sachs Group upgraded shares of CG Oncology from a “neutral” rating to a “buy” rating and boosted their target price for the company from $43.00 to $50.00 in a research report on Monday, May 13th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $64.00.

CG Oncology Stock Performance

Shares of CG Oncology stock opened at $31.57 on Friday. CG Oncology has a 12-month low of $25.77 and a 12-month high of $50.23. The stock has a fifty day moving average price of $33.50.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.01). The business had revenue of $0.53 million for the quarter. Research analysts expect that CG Oncology will post -1.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. bought a new position in CG Oncology during the 1st quarter worth about $102,000. California State Teachers Retirement System purchased a new position in shares of CG Oncology in the 1st quarter valued at approximately $103,000. BNP Paribas Financial Markets purchased a new position in shares of CG Oncology in the 1st quarter valued at approximately $492,000. Capstone Investment Advisors LLC purchased a new position in CG Oncology during the 1st quarter worth approximately $806,000. Finally, Blackstone Inc. purchased a new position in CG Oncology during the 1st quarter worth approximately $1,098,000. 26.56% of the stock is currently owned by institutional investors.

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.