CG Oncology, Inc. (NASDAQ:CGON) Stock Rated “Moderate Buy” by Sell-Side Analysts

Shares of CG Oncology, Inc. (NASDAQ:CGON) have earned an average recommendation of “Moderate Buy” from the ten brokerages that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $87.50.

CGON has been the topic of a number of analyst reports. HC Wainwright reissued a “buy” rating and issued a $100.00 target price on shares of CG Oncology in a research note on Wednesday, July 29th. Piper Sandler increased their price target on shares of CG Oncology from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Wall Street Zen cut shares of CG Oncology from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Royal Bank Of Canada decreased their price objective on CG Oncology from $81.00 to $79.00 and set an “outperform” rating on the stock in a report on Friday, August 7th. Finally, Truist Financial lifted their price objective on CG Oncology from $82.00 to $85.00 and gave the company a “buy” rating in a report on Friday, August 7th.

Insider Activity

In other news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $72.98, for a total value of $72,980.00. Following the completion of the transaction, the director directly owned 1,000 shares of the company’s stock, valued at approximately $72,980. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 4.80% of the company’s stock.

Institutional Trading of CG Oncology

Several institutional investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of CG Oncology in the 2nd quarter valued at $444,509,000. Seven Fleet Capital Management LP bought a new stake in shares of CG Oncology in the 4th quarter worth about $62,909,000. Bank of America Corp DE acquired a new stake in shares of CG Oncology during the 2nd quarter worth about $69,978,000. Jefferies Financial Group Inc. acquired a new stake in shares of CG Oncology during the 2nd quarter worth about $54,705,000. Finally, Elmind Capital LP acquired a new stake in shares of CG Oncology during the 4th quarter worth about $20,449,000. Institutional investors and hedge funds own 26.56% of the company’s stock.

CG Oncology Price Performance

Shares of CG Oncology stock opened at $59.85 on Friday. The firm has a market capitalization of $5.31 billion, a PE ratio of -22.25 and a beta of 0.28. The company’s fifty day moving average price is $72.27 and its two-hundred day moving average price is $68.94. CG Oncology has a 52-week low of $35.80 and a 52-week high of $80.97.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.24). CG Oncology had a negative net margin of 3,602.68% and a negative return on equity of 25.20%. The business had revenue of $1.16 million during the quarter, compared to analyst estimates of $0.36 million. Analysts predict that CG Oncology will post -3.31 earnings per share for the current fiscal year.

About CG Oncology

CG Oncology, Inc (NASDAQ: CGON) is a clinical-stage biopharmaceutical company focused on developing therapies for bladder cancer and other cancers of the urinary tract. The company’s research centers on cancer-directed immunotherapies designed to stimulate the immune system and target tumor cells.

Its lead product candidate is cretostimogene grenadenorepvec, an intravesical oncolytic adenovirus being studied for the treatment of non-muscle-invasive bladder cancer (NMIBC). The therapy is designed to be delivered directly into the bladder, where it may selectively infect tumor cells and activate an immune response against cancer.

CG Oncology has evaluated cretostimogene in clinical studies involving patients with NMIBC, including individuals whose disease has not responded adequately to Bacillus Calmette-Guérin (BCG), a standard bladder cancer treatment.