CG Oncology, Inc. (NASDAQ:CGON) Receives $63.88 Consensus Price Target from Analysts

Shares of CG Oncology, Inc. (NASDAQ:CGON) have been given an average recommendation of “Buy” by the ten analysts that are currently covering the company, MarketBeat.com reports. Nine analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $63.88.

CGON has been the topic of a number of recent research reports. UBS Group initiated coverage on shares of CG Oncology in a report on Thursday, October 24th. They issued a “buy” rating and a $60.00 target price on the stock. HC Wainwright reissued a “buy” rating and issued a $75.00 price target on shares of CG Oncology in a report on Friday, January 10th. TD Cowen started coverage on CG Oncology in a research report on Tuesday, January 7th. They issued a “buy” rating for the company. Bank of America reissued a “buy” rating and issued a $65.00 price objective on shares of CG Oncology in a research note on Tuesday, October 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $66.00 target price on shares of CG Oncology in a research note on Friday, December 6th.

Insiders Place Their Bets

In other news, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction on Friday, December 6th. The shares were sold at an average price of $34.54, for a total transaction of $34,540.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Hong Fang Song sold 700,000 shares of the business’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 value of $19,600,000.00. Following the completion of the transaction, the director now owns 3,003,931 shares of the company’s stock, valued at $84,110,068. This represents a 18.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 702,000 shares of company stock valued at $19,664,200.

Hedge Funds Weigh In On CG Oncology

Large investors have recently bought and sold shares of the company. Amalgamated Bank lifted its stake in CG Oncology by 107.6% in the 3rd quarter. Amalgamated Bank now owns 1,621 shares of the company’s stock valued at $61,000 after purchasing an additional 840 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in CG Oncology in the 3rd quarter valued at about $241,000. Profund Advisors LLC acquired a new position in shares of CG Oncology in the second quarter valued at approximately $300,000. China Universal Asset Management Co. Ltd. acquired a new stake in CG Oncology during the 4th quarter worth approximately $411,000. Finally, HighVista Strategies LLC bought a new stake in CG Oncology in the 3rd quarter valued at $594,000. Institutional investors and hedge funds own 26.56% of the company’s stock.

CG Oncology Stock Up 0.1 %

Shares of CG Oncology stock opened at $30.79 on Friday. CG Oncology has a twelve month low of $25.77 and a twelve month high of $50.23. The company has a fifty day moving average price of $30.92 and a 200 day moving average price of $34.12.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.06. The firm had revenue of $0.04 million during the quarter, compared to analyst estimates of $0.30 million. CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. Equities research analysts expect that CG Oncology will post -1.31 earnings per share for the current fiscal 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.