CG Oncology, Inc. (NASDAQ:CGON) Given Average Recommendation of “Buy” by Brokerages

CG Oncology, Inc. (NASDAQ:CGON) has been assigned an average recommendation of “Buy” from the eight analysts that are presently covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $64.43.

A number of equities research analysts have issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $75.00 target price on shares of CG Oncology in a research note on Tuesday, September 17th. Royal Bank of Canada assumed coverage on shares of CG Oncology in a research note on Monday, September 23rd. They set an “outperform” rating and a $66.00 target price for the company. Bank of America reissued a “buy” rating and set a $65.00 target price on shares of CG Oncology in a research note on Tuesday, October 8th. Roth Capital raised shares of CG Oncology to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, Roth Mkm assumed coverage on shares of CG Oncology in a research note on Tuesday, August 27th. They set a “buy” rating and a $65.00 target price for the company.

Insider Activity at CG Oncology

In related news, Director Hong Fang Song sold 650,455 shares of CG Oncology stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $35.36, for a total value of $23,000,088.80. Following the transaction, the director now owns 586,982 shares in the company, valued at $20,755,683.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. American International Group Inc. bought a new position in CG Oncology in the 1st quarter worth $13,443,000. TimesSquare Capital Management LLC bought a new position in shares of CG Oncology during the 1st quarter worth about $9,837,000. Price T Rowe Associates Inc. MD bought a new position in shares of CG Oncology during the 1st quarter worth about $43,555,000. BNP Paribas Financial Markets bought a new position in shares of CG Oncology during the 1st quarter worth about $492,000. Finally, Ensign Peak Advisors Inc bought a new position in shares of CG Oncology during the 2nd quarter worth about $1,912,000. Institutional investors own 26.56% of the company’s stock.

CG Oncology Trading Down 0.9 %

NASDAQ CGON opened at $36.44 on Wednesday. CG Oncology has a twelve month low of $25.77 and a twelve month high of $50.23. The firm’s 50 day moving average price is $36.37 and its two-hundred day moving average price is $34.83.

CG Oncology (NASDAQ:CGON) last posted 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. Sell-side analysts forecast 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.