CG Oncology (NASDAQ:CGON) Earns Outperform Rating from Analysts at Royal Bank of Canada

by · The Markets Daily

Royal Bank of Canada assumed coverage on shares of CG Oncology (NASDAQ:CGON – Free Report) in a research note published on Monday morning, MarketBeat reports. The firm issued an outperform rating and a $66.00 price objective on the stock.

A number of other research analysts also recently commented on CGON. HC Wainwright reiterated a buy rating and issued a $75.00 price objective on shares of CG Oncology in a report on Tuesday, September 17th. Roth Capital upgraded shares of CG Oncology to a strong-buy rating in a research note on Tuesday, August 27th. Bank of America started coverage on shares of CG Oncology in a report on Friday, June 28th. They set a buy rating and a $65.00 price objective on the stock. Finally, Roth Mkm assumed coverage on shares of CG Oncology in a report on Tuesday, August 27th. They issued a buy rating and a $65.00 target price for the company. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Buy and a consensus price target of $64.43.

Check Out Our Latest Stock Analysis on CGON

CG Oncology Stock Performance

CGON stock opened at $36.20 on Monday. CG Oncology has a fifty-two week low of $25.77 and a fifty-two week high of $50.23. The company’s 50 day moving average price is $35.26 and its 200 day moving average price is $35.27.

CG Oncology (NASDAQ:CGON – Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.14. The firm had revenue of $0.11 million for the quarter. Equities analysts anticipate that CG Oncology will post -1.47 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Hong Fang Song sold 650,455 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $35.36, for a total transaction of $23,000,088.80. Following the completion of the sale, the director now owns 586,982 shares in the company, valued at approximately $20,755,683.52. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Institutional Trading of CG Oncology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. American International Group Inc. acquired a new position in shares of CG Oncology in the first quarter valued at approximately $13,443,000. TimesSquare Capital Management LLC purchased a new position in CG Oncology during the 1st quarter worth $9,837,000. Price T Rowe Associates Inc. MD purchased a new position in CG Oncology during the 1st quarter worth $43,555,000. BNP Paribas Financial Markets acquired a new stake in shares of CG Oncology in the 1st quarter worth $492,000. Finally, Vanguard Group Inc. purchased a new stake in shares of CG Oncology in the first quarter valued at about $97,678,000. 26.56% of the stock is owned by hedge funds and other institutional investors.

About CG Oncology

(Get Free Report)

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.

Further Reading