CG Oncology, Inc. (NASDAQ:CGON – Get Free Report) was up 4.7% during mid-day trading on Tuesday after Morgan Stanley raised their price target on the stock from $52.00 to $56.00. Morgan Stanley currently has an overweight rating on the stock. CG Oncology traded as high as $26.31 and last traded at $26.65. Approximately 213,112 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 1,029,603 shares. The stock had previously closed at $25.46.
CGON has been the topic of several other reports. Royal Bank Of Canada increased their target price on shares of CG Oncology from $66.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 29th. Scotiabank began coverage on shares of CG Oncology in a research note on Wednesday, April 16th. They issued a “sector perform” rating and a $23.00 target price on the stock. JPMorgan Chase & Co. began coverage on shares of CG Oncology in a research report on Friday, May 2nd. They set an “overweight” rating and a $41.00 price objective on the stock. HC Wainwright restated a “buy” rating and set a $75.00 price objective on shares of CG Oncology in a research report on Monday, April 28th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $75.00 price objective on shares of CG Oncology in a research report on Monday, April 28th. One analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $58.67.
Read Our Latest Report on CGON
Insider Activity
Hedge Funds Weigh In On CG Oncology
Several institutional investors and hedge funds have recently made changes to their positions in CGON. Rhumbline Advisers grew its holdings in shares of CG Oncology by 2.2% during the 4th quarter. Rhumbline Advisers now owns 69,016 shares of the company’s stock valued at $1,979,000 after purchasing an additional 1,458 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in CG Oncology by 16.7% in the 4th quarter. New York State Common Retirement Fund now owns 13,996 shares of the company’s stock worth $401,000 after buying an additional 2,000 shares during the period. TimesSquare Capital Management LLC lifted its holdings in CG Oncology by 25.1% in the 4th quarter. TimesSquare Capital Management LLC now owns 546,904 shares of the company’s stock worth $15,685,000 after buying an additional 109,835 shares during the period. Handelsbanken Fonder AB purchased a new stake in CG Oncology in the 4th quarter worth approximately $381,000. Finally, Los Angeles Capital Management LLC boosted its stake in shares of CG Oncology by 36.9% during the 4th quarter. Los Angeles Capital Management LLC now owns 30,197 shares of the company’s stock valued at $866,000 after purchasing an additional 8,145 shares in the last quarter. Institutional investors own 26.56% of the company’s stock.
CG Oncology Trading Up 0.2%
The business’s 50 day moving average price is $24.57 and its two-hundred day moving average price is $26.71. The stock has a market cap of $2.00 billion, a P/E ratio of -17.40 and a beta of 0.86.
CG Oncology (NASDAQ:CGON – Get Free Report) last announced its earnings results on Tuesday, May 13th. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.09). The company had revenue of $0.05 million for the quarter, compared to the consensus estimate of $0.53 million. CG Oncology had a negative net margin of 15,945.17% and a negative return on equity of 16.71%. As a group, analysts expect that CG Oncology, Inc. will post -1.31 earnings per share for the current 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.
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