Brokerages Set CG Oncology, Inc. (NASDAQ:CGON) Price Target at $63.88

CG Oncology, Inc. (NASDAQ:CGON) has been given an average rating of “Buy” by the nine brokerages that are covering the firm, MarketBeat.com reports. Eight investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $63.88.

CGON has been the subject of several research reports. HC Wainwright reissued a “buy” rating and set a $75.00 price objective on shares of CG Oncology in a research note on Tuesday. Roth Mkm began coverage on CG Oncology in a research report on Tuesday, August 27th. They set a “buy” rating and a $65.00 price target for the company. Royal Bank of Canada started coverage on CG Oncology in a report on Monday, September 23rd. They issued an “outperform” rating and a $66.00 price objective on the stock. Roth Capital raised CG Oncology to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, UBS Group began coverage on shares of CG Oncology in a research report on Thursday, October 24th. They set a “buy” rating and a $60.00 target price for the company.

Insider Activity

In related news, Director Hong Fang Song sold 650,455 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $35.36, for a total transaction of $23,000,088.80. Following the transaction, the director now directly owns 586,982 shares of the company’s stock, valued at approximately $20,755,683.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Institutional Investors Weigh In On CG Oncology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CGON. Charles Schwab Investment Management Inc. boosted its position in CG Oncology by 114.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 379,664 shares of the company’s stock valued at $14,325,000 after buying an additional 202,262 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in CG Oncology by 4.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 279,945 shares of the company’s stock valued at $10,562,000 after purchasing an additional 13,158 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in CG Oncology during the 3rd quarter worth approximately $832,000. TimesSquare Capital Management LLC raised its position in shares of CG Oncology by 27.4% in the 3rd quarter. TimesSquare Capital Management LLC now owns 437,069 shares of the company’s stock valued at $16,491,000 after purchasing an additional 94,010 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in shares of CG Oncology by 107.6% during the 3rd quarter. Amalgamated Bank now owns 1,621 shares of the company’s stock valued at $61,000 after buying an additional 840 shares during the last quarter. Hedge funds and other institutional investors own 26.56% of the company’s stock.

CG Oncology Stock Down 6.8 %

Shares of CGON stock opened at $36.98 on Friday. CG Oncology has a one year low of $25.77 and a one year high of $50.23. The company has a 50 day moving average price of $36.87 and a 200 day moving average price of $34.80.

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.