Brokerages Set CG Oncology, Inc. (NASDAQ:CGON) Target Price at $64.43

CG Oncology, Inc. (NASDAQ:CGON) has been assigned an average recommendation of “Buy” from the eight research firms that are covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $64.43.

A number of research firms have recently weighed in on CGON. Royal Bank of Canada began coverage on CG Oncology in a report on Monday, September 23rd. They set an “outperform” rating and a $66.00 price target on the stock. Roth Mkm began coverage on CG Oncology in a report on Tuesday, August 27th. They set a “buy” rating and a $65.00 price target on the stock. Bank of America reaffirmed a “buy” rating and set a $65.00 price target on shares of CG Oncology in a report on Tuesday, October 8th. HC Wainwright reiterated a “buy” rating and set a $75.00 price objective on shares of CG Oncology in a research note on Tuesday, September 17th. Finally, Roth Capital upgraded shares of CG Oncology to a “strong-buy” rating in a research note on Tuesday, August 27th.

Insiders Place Their Bets

In other CG Oncology news, Director Hong Fang Song sold 650,455 shares of CG Oncology stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $35.36, for a total value of $23,000,088.80. Following the transaction, the director now owns 586,982 shares in the company, valued at approximately $20,755,683.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. acquired a new position in CG Oncology in the first quarter worth approximately $102,000. California State Teachers Retirement System acquired a new position in CG Oncology in the first quarter worth approximately $103,000. Profund Advisors LLC purchased a new position in CG Oncology during the 2nd quarter worth approximately $300,000. BNP Paribas Financial Markets purchased a new position in CG Oncology during the 1st quarter worth approximately $492,000. Finally, SG Americas Securities LLC purchased a new position in CG Oncology during the 3rd quarter worth approximately $664,000. Institutional investors and hedge funds own 26.56% of the company’s stock.

CG Oncology Stock Performance

Shares of NASDAQ:CGON opened at $36.44 on Wednesday. The firm’s 50 day moving average is $36.37 and its two-hundred day moving average is $34.83. 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 results on Thursday, August 8th. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.14. The business had revenue of $0.11 million for the quarter. On average, sell-side analysts predict that CG Oncology will post -1.47 earnings per share for the current fiscal year.

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.