CG Oncology, Inc. (NASDAQ:CGON) Receives $87.78 Consensus Target Price from Analysts

CG Oncology, Inc. (NASDAQ:CGON) has earned an average rating of “Moderate Buy” from the eleven brokerages that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $87.7778.

Several equities analysts have commented on the company. Truist Financial raised their price objective on CG Oncology from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Wall Street Zen lowered shares of CG Oncology from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Royal Bank Of Canada lowered their price target on shares of CG Oncology from $81.00 to $79.00 and set an “outperform” rating for the company in a research report on Friday, August 7th. Piper Sandler upped their price objective on shares of CG Oncology from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $100.00 target price on shares of CG Oncology in a research note on Wednesday, July 29th.

Insider Buying and Selling at CG Oncology

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $72.98, for a total value of $72,980.00. Following the sale, the director directly owned 1,000 shares of the company’s stock, valued at approximately $72,980. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brian Liu bought 371,085 shares of the business’s stock in a transaction dated Thursday, June 25th. The stock was bought at an average cost of $66.87 per share, for a total transaction of $24,814,453.95. Following the completion of the purchase, the director owned 1,886,236 shares of the company’s stock, valued at approximately $126,132,601.32. The trade was a 24.49% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders sold 26,165 shares of company stock worth $1,963,761. 4.80% of the stock is owned by insiders.

Institutional Trading of CG Oncology

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Fiduciary Financial Advisors bought a new position in CG Oncology during the second quarter valued at approximately $28,000. NFSG Corp purchased a new stake in CG Oncology during the 1st quarter valued at $34,000. Fifth Third Bancorp purchased a new stake in CG Oncology during the 1st quarter valued at $74,000. KBC Group NV bought a new position in shares of CG Oncology during the 1st quarter valued at $78,000. Finally, ABS Direct Equity Fund LLC bought a new position in shares of CG Oncology during the 1st quarter valued at $176,000. 26.56% of the stock is currently owned by institutional investors.

CG Oncology Price Performance

Shares of CGON opened at $77.74 on Wednesday. The company has a 50-day simple moving average of $74.30 and a two-hundred day simple moving average of $68.77. The firm has a market capitalization of $6.89 billion, a PE ratio of -28.90 and a beta of 0.24. CG Oncology has a one year low of $35.64 and a one year high of $80.97.

CG Oncology (NASDAQ:CGON) last announced its earnings results on Thursday, August 6th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.24). CG Oncology had a negative return on equity of 25.20% and a negative net margin of 3,602.68%.The firm had revenue of $1.16 million during the quarter, compared to the consensus estimate of $0.36 million. Analysts expect that CG Oncology will post -3.31 EPS for the current fiscal year.

CG Oncology Company Profile

CG Oncology, Inc (NASDAQ: CGON) is a clinical-stage biotechnology company focused on developing therapies for bladder cancer. The company’s research is centered on treatments designed to stimulate the immune system and target tumors directly, with an emphasis on non-muscle-invasive bladder cancer (NMIBC).

Its lead investigational product, cretostimogene grenadenorep, also known as CG0070, is an intravesical oncolytic adenovirus intended for administration directly into the bladder. The therapy is designed to selectively replicate in cancer cells, promote tumor-cell destruction and stimulate an immune response through the production of granulocyte-macrophage colony-stimulating factor (GM-CSF).