CG Oncology, Inc. (NASDAQ:CGON) Receives Consensus Recommendation of “Buy” from Brokerages

CG Oncology, Inc. (NASDAQ:CGON) has been given a consensus recommendation of “Buy” by the nine brokerages that are presently covering the firm, Marketbeat.com reports. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $65.14.

Several equities analysts recently issued reports on the company. TD Cowen assumed coverage on CG Oncology in a research report on Tuesday, January 7th. They issued a “buy” rating on the stock. HC Wainwright reissued a “buy” rating and issued a $75.00 target price on shares of CG Oncology in a research report on Friday, January 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $66.00 target price on shares of CG Oncology in a research report on Friday, December 6th.

CG Oncology Stock Down 1.3 %

Shares of CGON stock opened at $27.85 on Tuesday. The business’s fifty day simple moving average is $29.20 and its 200-day simple moving average is $33.41. CG Oncology has a 12-month low of $25.77 and a 12-month high of $48.05.

Insider Transactions 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 shares were sold at an average price of $29.66, for a total transaction of $29,660.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Hong Fang Song sold 700,000 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $28.00, for a total transaction of $19,600,000.00. Following the sale, the director now directly owns 3,003,931 shares in the company, valued at approximately $84,110,068. The trade was a 18.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 702,000 shares of company stock valued at $19,664,200 in the last ninety days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Decheng Capital LLC lifted its stake in CG Oncology by 16.3% in the 4th 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 in the last quarter. Vanguard Group Inc. lifted its stake in CG Oncology by 15.3% in the 4th quarter. Vanguard Group Inc. now owns 5,861,082 shares of the company’s stock valued at $168,096,000 after buying an additional 779,730 shares in the last quarter. Braidwell LP lifted its stake in CG Oncology by 3.5% in the 4th quarter. Braidwell LP now owns 3,283,317 shares of the company’s stock valued at $94,166,000 after buying an additional 112,442 shares in the last quarter. Foresite Capital Management VI LLC purchased a new position in CG Oncology in the 4th quarter valued at about $63,712,000. Finally, Wellington Management Group LLP lifted its stake in CG Oncology by 274.4% in the 4th quarter. Wellington Management Group LLP now owns 1,910,470 shares of the company’s stock valued at $54,792,000 after buying an additional 1,400,251 shares in the last quarter. 26.56% of the stock is owned by hedge funds and other institutional investors.

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.