TD Cowen Begins Coverage on CG Oncology (NASDAQ:CGON)

TD Cowen began coverage on shares of CG Oncology (NASDAQ:CGON) in a report released on Tuesday morning, MarketBeat Ratings reports. The brokerage issued a buy rating on the stock.

A number of other research analysts have also commented on the company. Bank of America reaffirmed a “buy” rating and set a $65.00 price target on shares of CG Oncology in a research report on Tuesday, October 8th. UBS Group assumed coverage on CG Oncology in a report on Thursday, October 24th. They set a “buy” rating and a $60.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $66.00 price target on shares of CG Oncology in a report on Friday, December 6th. Finally, HC Wainwright reissued a “buy” rating and set a $75.00 price objective on shares of CG Oncology in a research report on Friday, December 6th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $63.88.

CG Oncology Stock Down 1.8 %

Shares of NASDAQ CGON opened at $30.46 on Tuesday. The firm’s fifty day moving average is $32.66 and its 200 day moving average is $34.25. CG Oncology has a 52 week low of $25.77 and a 52 week high of $50.23.

CG Oncology (NASDAQ:CGON) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.06. The firm had revenue of $0.04 million for the quarter, compared to analysts’ expectations of $0.30 million. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. Equities research analysts expect that CG Oncology will post -1.32 EPS for the current fiscal year.

Insider Buying and Selling at CG Oncology

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $34.54, for a total value of $34,540.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Hong Fang Song sold 700,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $28.00, for a total transaction of $19,600,000.00. Following the transaction, the director now directly owns 3,003,931 shares of the company’s stock, valued at $84,110,068. This represents a 18.90 % decrease in their position. The disclosure for this sale can be found here.

Institutional Trading of CG Oncology

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp boosted its holdings in CG Oncology by 73.0% in the third quarter. State Street Corp now owns 1,700,653 shares of the company’s stock worth $64,166,000 after acquiring an additional 717,722 shares in the last quarter. Ally Bridge Group NY LLC raised its position in shares of CG Oncology by 50.5% in the 3rd quarter. Ally Bridge Group NY LLC now owns 263,266 shares of the company’s stock worth $9,933,000 after purchasing an additional 88,390 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake 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 worth $14,325,000 after purchasing an additional 202,262 shares in the last quarter. BNP Paribas Financial Markets grew its position in CG Oncology by 876.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 26,660 shares of the company’s stock valued at $1,006,000 after purchasing an additional 23,931 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C grew its position in CG Oncology by 811.9% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 433,540 shares of the company’s stock valued at $13,687,000 after purchasing an additional 386,000 shares during the last quarter. Hedge funds and other institutional investors own 26.56% of the company’s stock.

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.