Brokerages Set CG Oncology, Inc. (NASDAQ:CGON) PT at $87.78

CG Oncology, Inc. (NASDAQ:CGON) has received a consensus rating of “Moderate Buy” from the eleven analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $87.7778.

Several research firms recently issued reports on CGON. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CG Oncology in a report on Friday, July 17th. Truist Financial raised their price objective on shares of CG Oncology from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Wall Street Zen downgraded shares of CG Oncology from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. HC Wainwright reissued a “buy” rating and issued a $100.00 target price on shares of CG Oncology in a research report on Wednesday, July 29th. Finally, Royal Bank Of Canada cut their target price on shares of CG Oncology from $81.00 to $79.00 and set an “outperform” rating on the stock in a research note on Friday, August 7th.

Insider Activity at CG Oncology

In related news, Director James Mulay sold 24,165 shares of the business’s stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $75.16, for a total value of $1,816,241.40. Following the completion of the sale, the director directly owned 24,165 shares of the company’s stock, valued at $1,816,241.40. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Leonard E. Post sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $72.98, for a total value of $72,980.00. Following the sale, the director owned 1,000 shares in the company, valued at $72,980. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 36,165 shares of company stock valued at $2,638,761 over the last three months. 4.80% of the stock is owned by insiders.

Institutional Investors Weigh In On CG Oncology

Several institutional investors and hedge funds have recently made changes to their positions in CGON. Fiduciary Financial Advisors acquired a new position in CG Oncology in the second quarter worth $28,000. NFSG Corp bought a new stake in CG Oncology during the first quarter valued at $34,000. Fifth Third Bancorp acquired a new stake in shares of CG Oncology during the first quarter worth $74,000. KBC Group NV acquired a new stake in shares of CG Oncology during the first quarter worth $78,000. Finally, Handelsbanken Fonder AB lifted its position in shares of CG Oncology by 5.8% in the 2nd quarter. Handelsbanken Fonder AB now owns 21,900 shares of the company’s stock worth $1,556,000 after buying an additional 1,200 shares during the last quarter. 26.56% of the stock is owned by institutional investors and hedge funds.

CG Oncology Stock Down 1.3%

Shares of NASDAQ CGON opened at $74.62 on Wednesday. CG Oncology has a fifty-two week low of $35.64 and a fifty-two week high of $80.97. The business has a 50 day moving average price of $74.06 and a two-hundred day moving average price of $68.45. The firm has a market cap of $6.61 billion, a PE ratio of -27.74 and a beta of 0.24.

CG Oncology (NASDAQ:CGON) last announced its earnings results 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). The business had revenue of $1.16 million during the quarter, compared to analyst estimates of $0.36 million. CG Oncology had a negative net margin of 3,602.68% and a negative return on equity of 25.20%. On average, analysts anticipate that CG Oncology will post -3.31 earnings per share for the current year.

About CG Oncology

CG Oncology, Inc (NASDAQ: CGON) is a clinical-stage biotechnology company focused on developing therapies for bladder cancer. The company’s research is centered on treatments designed to stimulate the immune system and target tumors directly, with an emphasis on non-muscle-invasive bladder cancer (NMIBC).

Its lead investigational product, cretostimogene grenadenorep, also known as CG0070, is an intravesical oncolytic adenovirus intended for administration directly into the bladder. The therapy is designed to selectively replicate in cancer cells, promote tumor-cell destruction and stimulate an immune response through the production of granulocyte-macrophage colony-stimulating factor (GM-CSF).