CG Oncology’s (CGON) Buy Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of CG Oncology (NASDAQ:CGON) in a research note issued to investors on Monday morning,Benzinga reports. HC Wainwright currently has a $75.00 price objective on the stock. HC Wainwright also issued estimates for CG Oncology’s FY2029 earnings at $1.34 EPS.

A number of other research firms have also commented on CGON. TD Cowen assumed coverage on CG Oncology in a report on Tuesday, January 7th. They issued a “buy” rating for the company. Morgan Stanley reissued an “overweight” rating and set a $55.00 price objective on shares of CG Oncology in a report on Friday, March 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $66.00 target price on shares of CG Oncology in a report on Friday, December 6th. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, CG Oncology has a consensus rating of “Buy” and an average target price of $63.88.

CG Oncology Stock Performance

CGON stock opened at $22.24 on Monday. CG Oncology has a fifty-two week low of $21.61 and a fifty-two week high of $46.99. The stock has a fifty day moving average of $27.50 and a 200-day moving average of $31.57. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of -15.66 and a beta of 1.60.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings results on Tuesday, March 25th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.11). The business had revenue of $0.46 million for the quarter, compared to analysts’ expectations of $0.11 million. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. Equities analysts predict that CG Oncology will post -1.31 EPS for the current year.

Insider Activity at CG Oncology

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the company’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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Trading of CG Oncology

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its stake in shares of CG Oncology by 274.4% in the 4th quarter. Wellington Management Group LLP now owns 1,910,470 shares of the company’s stock worth $54,792,000 after buying an additional 1,400,251 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of CG Oncology by 115.3% during the 4th quarter. California State Teachers Retirement System now owns 38,768 shares of the company’s stock valued at $1,112,000 after buying an additional 20,763 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in CG Oncology in the 4th quarter worth approximately $41,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of CG Oncology by 496.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 125,902 shares of the company’s stock worth $3,611,000 after acquiring an additional 104,780 shares during the last quarter. Finally, Woodline Partners LP boosted its stake in CG Oncology by 3.8% during the fourth quarter. Woodline Partners LP now owns 628,885 shares of the company’s stock valued at $18,036,000 after buying an additional 22,987 shares during the last quarter. Hedge funds and other institutional investors own 26.56% of the company’s stock.

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.