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

Shares of CG Oncology, Inc. (NASDAQ:CGON) have been given a consensus rating of “Buy” by the ten analysts that are covering the company, Marketbeat.com reports. Nine investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $63.88.

A number of equities research analysts recently weighed in on the stock. Morgan Stanley reissued an “overweight” rating and set a $55.00 price target on shares of CG Oncology in a research note on Friday, March 7th. HC Wainwright reaffirmed a “buy” rating and set a $75.00 price target on shares of CG Oncology in a research report on Monday, March 31st. Finally, TD Cowen initiated coverage on CG Oncology in a research note on Tuesday, January 7th. They issued a “buy” rating for the company.

Institutional Trading of CG Oncology

Large investors have recently added to or reduced their stakes in the stock. Decheng Capital LLC lifted its position in shares of CG Oncology by 16.3% during the fourth quarter. Decheng Capital LLC now owns 6,371,669 shares of the company’s stock worth $182,739,000 after acquiring an additional 892,859 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of CG Oncology by 15.3% in the fourth quarter. Vanguard Group Inc. now owns 5,861,082 shares of the company’s stock worth $168,096,000 after purchasing an additional 779,730 shares during the last quarter. Braidwell LP boosted its holdings in shares of CG Oncology by 3.5% during the fourth quarter. Braidwell LP now owns 3,283,317 shares of the company’s stock worth $94,166,000 after purchasing an additional 112,442 shares during the period. Foresite Capital Management VI LLC purchased a new stake in CG Oncology in the fourth quarter worth $63,712,000. Finally, Wellington Management Group LLP lifted its holdings in CG Oncology by 274.4% in the fourth 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 period. Hedge funds and other institutional investors own 26.56% of the company’s stock.

CG Oncology Stock Up 9.4 %

CGON opened at $19.28 on Wednesday. The firm has a market capitalization of $1.47 billion, a P/E ratio of -13.58 and a beta of 1.24. The stock’s 50 day moving average price is $25.19 and its two-hundred day moving average price is $30.30. CG Oncology has a 12-month low of $14.80 and a 12-month high of $46.99.

CG Oncology (NASDAQ:CGON) last posted its earnings results on Tuesday, March 25th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.11). CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. The company had revenue of $0.46 million for the quarter, compared to the consensus estimate of $0.11 million. As a group, analysts anticipate that CG Oncology will post -1.31 earnings per share for the current year.

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.