Analysts Set CG Oncology, Inc. (NASDAQ:CGON) PT at $57.70

CG Oncology, Inc. (NASDAQ:CGON) has been given an average rating of “Buy” by the twelve research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $57.70.

A number of research firms recently commented on CGON. JPMorgan Chase & Co. initiated coverage on CG Oncology in a research report on Friday, May 2nd. They set an “overweight” rating and a $41.00 price objective for the company. TD Cowen started coverage on shares of CG Oncology in a research note on Tuesday, January 7th. They issued a “buy” rating on the stock. Morgan Stanley reissued an “overweight” rating and issued a $55.00 price objective on shares of CG Oncology in a report on Friday, March 7th. Royal Bank of Canada upped their target price on shares of CG Oncology from $66.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, April 29th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $75.00 price target on shares of CG Oncology in a research note on Monday, April 28th.

CG Oncology Stock Down 23.0 %

Shares of NASDAQ CGON opened at $21.70 on Friday. The firm’s 50-day moving average price is $23.68 and its 200-day moving average price is $28.80. CG Oncology has a 52-week low of $14.80 and a 52-week high of $40.47. The company has a market cap of $1.65 billion, a PE ratio of -15.28 and a beta of 1.08.

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 the consensus estimate of ($0.37) by ($0.11). The company had revenue of $0.46 million during the quarter, compared to analysts’ expectations of $0.11 million. CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. As a group, equities research analysts anticipate that CG Oncology will post -1.31 EPS for the current fiscal year.

Insider Buying and Selling

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $30.76, for a total transaction of $30,760.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Hedge Funds Weigh In On CG Oncology

A number of hedge funds and other institutional investors have recently modified their holdings of CGON. Barclays PLC lifted its stake in CG Oncology by 331.1% in the 3rd quarter. Barclays PLC now owns 90,520 shares of the company’s stock worth $3,416,000 after purchasing an additional 69,523 shares in the last quarter. Franklin Resources Inc. boosted its stake in CG Oncology by 8.9% during the third quarter. Franklin Resources Inc. now owns 1,230,193 shares of the company’s stock valued at $46,157,000 after buying an additional 100,106 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in CG Oncology by 59.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 31,071 shares of the company’s stock valued at $1,172,000 after buying an additional 11,542 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new stake in CG Oncology in the 4th quarter worth approximately $411,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of CG Oncology during the 4th quarter worth approximately $68,000. Institutional investors own 26.56% of the company’s stock.

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.