CG Oncology (NASDAQ:CGON) Now Covered by Analysts at TD Cowen

TD Cowen started coverage on shares of CG Oncology (NASDAQ:CGON) in a research report report published on Tuesday, Marketbeat reports. The brokerage issued a buy rating on the stock.

Other research analysts also recently issued research reports about the stock. UBS Group initiated coverage on shares of CG Oncology in a research note on Thursday, October 24th. They issued a “buy” rating and a $60.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $75.00 target price on shares of CG Oncology in a research report on Friday, December 6th. 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 restated an “outperform” rating and issued a $66.00 price target on shares of CG Oncology in a report on Friday, December 6th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $63.88.

CG Oncology Trading Up 4.3 %

Shares of CG Oncology stock opened at $31.01 on Tuesday. CG Oncology has a 1-year low of $25.77 and a 1-year high of $50.23. The company’s fifty day simple moving average is $32.78 and its 200-day simple moving average is $34.28.

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

Insider Activity at CG Oncology

In related news, Director Leonard E. Post sold 1,000 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was 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 company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $28.00, for a total value of $19,600,000.00. Following the sale, the director now owns 3,003,931 shares of the company’s stock, valued at $84,110,068. This trade represents a 18.90 % decrease in their position. The disclosure for this sale can be found here.

Hedge Funds Weigh In On CG Oncology

Several institutional investors have recently bought and sold shares of CGON. State Street Corp raised its holdings in CG Oncology by 73.0% during the third quarter. State Street Corp now owns 1,700,653 shares of the company’s stock worth $64,166,000 after purchasing an additional 717,722 shares in the last quarter. Ally Bridge Group NY LLC lifted its holdings 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 valued at $9,933,000 after buying an additional 88,390 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in CG Oncology by 114.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 379,664 shares of the company’s stock worth $14,325,000 after acquiring an additional 202,262 shares during the period. BNP Paribas Financial Markets raised its position in CG Oncology by 876.9% in the third quarter. BNP Paribas Financial Markets now owns 26,660 shares of the company’s stock worth $1,006,000 after acquiring an additional 23,931 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C lifted its holdings in CG Oncology by 811.9% in the second quarter. Deerfield Management Company L.P. Series C now owns 433,540 shares of the company’s stock valued at $13,687,000 after acquiring an additional 386,000 shares during the period. 26.56% of the stock is owned by institutional investors and hedge funds.

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.