HC Wainwright Reaffirms “Buy” Rating for CG Oncology (NASDAQ:CGON)

by · The Cerbat Gem

HC Wainwright reiterated their buy rating on shares of CG Oncology (NASDAQ:CGON – Free Report) in a report released on Tuesday, Benzinga reports. The brokerage currently has a $75.00 price objective on the stock.

Several other research analysts have also recently weighed in on CGON. Roth Mkm initiated coverage on shares of CG Oncology in a report on Tuesday, August 27th. They set a buy rating and a $65.00 price objective for the company. Bank of America started coverage on shares of CG Oncology in a research note on Friday, June 28th. They set a buy rating and a $65.00 target price for the company. Finally, Roth Capital upgraded CG Oncology to a strong-buy rating in a research note on Tuesday, August 27th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Buy and an average target price of $64.17.

Read Our Latest Research Report on CG Oncology

CG Oncology Price Performance

CG Oncology stock opened at $39.00 on Tuesday. CG Oncology has a 12 month low of $25.77 and a 12 month high of $50.23. The stock has a fifty day simple moving average of $35.29 and a two-hundred day simple moving average of $35.37.

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

Insiders Place Their Bets

In other news, Director Hong Fang Song sold 650,455 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $35.36, for a total value of $23,000,088.80. Following the completion of the sale, the director now directly owns 586,982 shares in the company, valued at approximately $20,755,683.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. purchased a new position in CG Oncology during the first quarter valued at approximately $102,000. California State Teachers Retirement System bought a new stake in shares of CG Oncology during the 1st quarter valued at $103,000. Profund Advisors LLC purchased a new position in shares of CG Oncology during the 2nd quarter valued at $300,000. BNP Paribas Financial Markets bought a new position in CG Oncology in the 1st quarter worth $492,000. Finally, Capstone Investment Advisors LLC purchased a new stake in CG Oncology in the 1st quarter worth $806,000. 26.56% of the stock is owned by hedge funds and other institutional investors.

CG Oncology Company Profile

(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.

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