CG Oncology, Inc. (NASDAQ:CGON) Given Consensus Rating of “Buy” by Brokerages

Shares of CG Oncology, Inc. (NASDAQ:CGON) have received an average rating of “Buy” from the ten ratings firms that are presently covering the firm, MarketBeat Ratings reports. Nine research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $63.88.

Several brokerages recently weighed in on CGON. HC Wainwright restated a “buy” rating and set a $75.00 target price on shares of CG Oncology in a research note on Friday, January 10th. 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 reiterated an “overweight” rating and set a $55.00 target price on shares of CG Oncology in a research note on Friday, March 7th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $66.00 price target on shares of CG Oncology in a report on Friday, December 6th.

CG Oncology Stock Performance

CGON stock opened at $27.05 on Friday. The company has a 50-day moving average of $28.08 and a two-hundred day moving average of $32.20. CG Oncology has a 52-week low of $23.91 and a 52-week high of $46.99.

Insider Activity

In related news, Director Leonard E. Post sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $29.66, for a total transaction of $29,660.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. acquired a new stake in shares of CG Oncology during the 4th quarter worth about $41,000. Amalgamated Bank grew its stake in CG Oncology by 107.6% during the third quarter. Amalgamated Bank now owns 1,621 shares of the company’s stock worth $61,000 after buying an additional 840 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of CG Oncology during the fourth quarter worth approximately $68,000. KLP Kapitalforvaltning AS bought a new position in shares of CG Oncology in the fourth quarter valued at approximately $100,000. Finally, Federated Hermes Inc. acquired a new position in shares of CG Oncology in the 4th quarter worth approximately $172,000. 26.56% of the stock is owned by institutional investors.

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.