CG Oncology, Inc. (CGON) – What Are Brokerages Thinking About This Stock?

CG Oncology, Inc. (NASDAQ:CGON) has been assigned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and nine have given a 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 $88.11.

CGON has been the topic of several recent research reports. Guggenheim reduced their price target on CG Oncology from $90.00 to $89.00 and set a “buy” rating on the stock in a research report on Monday. Piper Sandler raised their target price on shares of CG Oncology from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. HC Wainwright restated a “buy” rating and issued a $100.00 target price on shares of CG Oncology in a report on Wednesday, July 29th. Truist Financial lifted their target price on shares of CG Oncology from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Finally, Royal Bank Of Canada lowered their price target on shares of CG Oncology from $81.00 to $79.00 and set an “outperform” rating for the company in a report on Friday, August 7th.

Insider Activity

In related news, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $62.06, for a total value of $62,060.00. Following the sale, the director owned 1,000 shares in the company, valued at $62,060. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 3,000 shares of company stock worth $209,580 over the last 90 days. 4.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CG Oncology

Institutional investors have recently bought and sold shares of the stock. WINTON GROUP Ltd purchased a new stake in shares of CG Oncology during the second quarter valued at approximately $718,000. Legal & General Group Plc purchased a new position in CG Oncology in the 2nd quarter worth approximately $2,846,000. Jefferies Financial Group Inc. bought a new position in CG Oncology in the 2nd quarter valued at approximately $54,705,000. Jupiter Topco LLC purchased a new stake in CG Oncology during the 2nd quarter valued at $1,634,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of CG Oncology in the 2nd quarter worth $16,584,000. 26.56% of the stock is owned by institutional investors.

CG Oncology Stock Performance

Shares of CGON opened at $74.74 on Thursday. The firm has a market cap of $6.62 billion, a price-to-earnings ratio of -27.08 and a beta of 0.35. CG Oncology has a fifty-two week low of $35.80 and a fifty-two week high of $80.97. The firm has a 50 day moving average price of $68.24 and a 200-day moving average price of $66.18.

CG Oncology (NASDAQ:CGON) last released its earnings results on Friday, November 6th. The company reported ($0.64) EPS for the quarter, beating the consensus estimate of ($0.83) by $0.19. The company had revenue of $1.60 million for the quarter, compared to analyst estimates of $0.55 million. CG Oncology had a negative net margin of 3,602.68% and a negative return on equity of 25.20%. As a group, equities research analysts predict that CG Oncology will post -3.31 earnings per share for the current year.

CG Oncology Company Profile

CG Oncology is a clinical-stage biotechnology company focused on developing treatments for bladder cancer. Based in Irvine, California, the company’s research centers on therapies delivered directly into the bladder.

Its lead investigational therapy, cretostimogene grenadenorepvec (formerly CG0070), is an oncolytic immunotherapy being developed for non-muscle-invasive bladder cancer, including disease that has not responded to Bacillus Calmette-Guérin (BCG) treatment. The modified virus is designed to target cancer cells and stimulate an immune response.

CG Oncology has no approved commercial products.