CG Oncology (NASDAQ:CGON) Receives Buy Rating from HC Wainwright

CG Oncology (NASDAQ:CGON)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a research note issued on Monday,Benzinga reports. They presently have a $75.00 price target on the stock. HC Wainwright’s price target would indicate a potential upside of 183.88% from the company’s current price.

CGON has been the subject of several other research reports. Royal Bank of Canada restated an “outperform” rating and issued a $66.00 target price on shares of CG Oncology in a research note on Friday, December 6th. Morgan Stanley reiterated an “overweight” rating and issued a $55.00 target price on shares of CG Oncology in a research note on Friday, March 7th. Finally, TD Cowen initiated coverage on shares of CG Oncology in a research report on Tuesday, January 7th. They set a “buy” rating for the company. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $63.88.

CG Oncology Stock Down 1.9 %

CGON opened at $26.42 on Monday. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of -18.61 and a beta of 1.60. The firm has a 50-day moving average price of $27.91 and a 200-day moving average price of $31.80. CG Oncology has a twelve month low of $23.91 and a twelve month high of $46.99.

CG Oncology (NASDAQ:CGON) last issued its earnings results on Tuesday, March 25th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.11). The business had revenue of $0.46 million for the quarter, compared to the consensus estimate of $0.11 million. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. On average, sell-side analysts expect that CG Oncology will post -1.31 earnings per share for the current fiscal year.

Insider Buying and Selling at CG Oncology

In other news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $29.66, for a total transaction of $29,660.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Institutional Trading of CG Oncology

Hedge funds have recently bought and sold shares of the company. Foresite Capital Management VI LLC purchased a new position in shares of CG Oncology during the fourth quarter worth approximately $63,712,000. Marshall Wace LLP raised its position in CG Oncology by 18,836.0% in the 4th quarter. Marshall Wace LLP now owns 1,458,072 shares of the company’s stock worth $41,818,000 after purchasing an additional 1,450,372 shares during the period. Wellington Management Group LLP lifted its stake in CG Oncology by 274.4% in the fourth quarter. Wellington Management Group LLP now owns 1,910,470 shares of the company’s stock worth $54,792,000 after purchasing an additional 1,400,251 shares during the last quarter. Acorn Capital Advisors LLC purchased a new stake in CG Oncology during the fourth quarter valued at about $32,451,000. Finally, Decheng Capital LLC grew its stake in shares of CG Oncology by 16.3% during the fourth quarter. Decheng Capital LLC now owns 6,371,669 shares of the company’s stock valued at $182,739,000 after buying an additional 892,859 shares during the last quarter. Institutional investors own 26.56% of the company’s stock.

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.