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

Shares of CG Oncology, Inc. (NASDAQ:CGON) have been given a consensus rating of “Buy” by the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $64.43.

A number of analysts have issued reports on the company. HC Wainwright reissued a “buy” rating and issued a $75.00 price target on shares of CG Oncology in a research note on Tuesday, September 17th. Roth Capital raised 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 report on Friday, June 28th. They issued a “buy” rating and a $65.00 price target on the stock. 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 price objective for the company. Finally, 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 on the stock.

Insider Buying and Selling at CG Oncology

In other 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 of the company’s stock, valued at $20,755,683.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. acquired a new stake in CG Oncology during the 1st quarter valued at $102,000. California State Teachers Retirement System purchased a new stake in shares of CG Oncology during the first quarter worth about $103,000. Profund Advisors LLC acquired a new position in shares of CG Oncology in the second quarter worth about $300,000. BNP Paribas Financial Markets purchased a new position in CG Oncology in the first quarter valued at about $492,000. Finally, Capstone Investment Advisors LLC acquired a new stake in CG Oncology during the 1st quarter valued at approximately $806,000. 26.56% of the stock is owned by institutional investors and hedge funds.

CG Oncology Price Performance

NASDAQ:CGON opened at $37.87 on Friday. The firm has a 50 day simple moving average of $35.31 and a 200-day simple moving average of $35.31. CG Oncology has a 1-year low of $25.77 and a 1-year high of $50.23.

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

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.