CG Oncology (NASDAQ:CGON) Earns “Outperform” Rating from Royal Bank of Canada

CG Oncology (NASDAQ:CGON)‘s stock had its “outperform” rating reissued by analysts at Royal Bank of Canada in a research note issued to investors on Friday,Benzinga reports. They currently have a $66.00 target price on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 90.81% from the company’s current price.

A number of other equities analysts also recently issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $75.00 price objective on shares of CG Oncology in a report on Friday. Roth Capital raised CG Oncology to a “strong-buy” rating in a research note on Tuesday, August 27th. UBS Group began coverage on CG Oncology in a research note on Thursday, October 24th. They issued a “buy” rating and a $60.00 target price on the stock. Bank of America reissued a “buy” rating and issued a $65.00 target price on shares of CG Oncology in a research note on Tuesday, October 8th. Finally, Roth Mkm began coverage on CG Oncology in a research note on Tuesday, August 27th. They issued a “buy” rating and a $65.00 target price on the stock. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $63.88.

CG Oncology Trading Up 3.1 %

CGON opened at $34.59 on Friday. The stock has a fifty day simple moving average of $35.78 and a two-hundred day simple moving average of $34.92. CG Oncology has a 12-month low of $25.77 and a 12-month high of $50.23.

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

Insider Activity at CG Oncology

In related news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $34.54, for a total transaction of $34,540.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Amalgamated Bank boosted its position in CG Oncology by 107.6% in the third quarter. Amalgamated Bank now owns 1,621 shares of the company’s stock worth $61,000 after purchasing an additional 840 shares during the last quarter. California State Teachers Retirement System purchased a new position in CG Oncology in the first quarter worth about $103,000. Rhumbline Advisers boosted its position in CG Oncology by 13.0% in the second quarter. Rhumbline Advisers now owns 34,229 shares of the company’s stock worth $1,081,000 after purchasing an additional 3,940 shares during the last quarter. M&T Bank Corp boosted its position in CG Oncology by 55.7% in the third quarter. M&T Bank Corp now owns 16,758 shares of the company’s stock worth $632,000 after purchasing an additional 5,996 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in CG Oncology in the third quarter worth about $241,000. 26.56% of the stock is owned by hedge funds and other institutional investors.

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.