CG Oncology (NASDAQ:CGON) Price Target Raised to $84.00

CG Oncology (NASDAQ:CGON) had its price target boosted by investment analysts at Wedbush from $80.00 to $84.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush‘s price target would suggest a potential upside of 12.47% from the stock’s current price.

Several other research firms also recently commented on CGON. Piper Sandler upped their target price on CG Oncology from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Royal Bank Of Canada dropped their price target on CG Oncology from $81.00 to $79.00 and set an “outperform” rating for the company in a report on Friday, August 7th. Wall Street Zen upgraded CG Oncology from a “strong sell” rating to a “sell” rating in a research note on Saturday. HC Wainwright restated a “buy” rating and issued a $100.00 price target on shares of CG Oncology in a research note on Wednesday, July 29th. Finally, Truist Financial upped their price objective on CG Oncology from $82.00 to $85.00 and gave the company a “buy” rating in a report on Friday, August 7th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.00.

CG Oncology Stock Performance

CGON traded down $1.30 on Friday, reaching $74.69. The company had a trading volume of 117,133 shares, compared to its average volume of 1,088,448. CG Oncology has a fifty-two week low of $35.80 and a fifty-two week high of $80.97. The stock has a market cap of $6.62 billion, a P/E ratio of -27.21 and a beta of 0.35. The company’s fifty day moving average is $68.23 and its 200 day moving average is $66.09.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings data on Friday, November 6th. The company reported ($0.64) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.83) by $0.19. The firm had revenue of $1.60 million during the quarter, compared to the consensus estimate of $0.55 million. CG Oncology had a negative net margin of 3,851.09% and a negative return on equity of 24.79%. On average, sell-side analysts expect that CG Oncology will post -3.31 EPS for the current year.

Insiders Place Their Bets

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the business’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $62.06, for a total value of $62,060.00. Following the completion of the sale, the director owned 1,000 shares of the company’s stock, valued at $62,060. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 3,000 shares of company stock valued at $209,580. 4.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CGON. Fiduciary Financial Advisors acquired a new stake in shares of CG Oncology in the second quarter valued at approximately $28,000. NFSG Corp bought a new stake in shares of CG Oncology in the first quarter valued at approximately $34,000. Manchester Capital Management LLC boosted its stake in shares of CG Oncology by 2,895.5% in the third quarter. Manchester Capital Management LLC now owns 659 shares of the company’s stock valued at $47,000 after buying an additional 637 shares during the period. Covestor Ltd boosted its stake in shares of CG Oncology by 72.6% in the third quarter. Covestor Ltd now owns 770 shares of the company’s stock valued at $55,000 after buying an additional 324 shares during the period. Finally, GAMMA Investing LLC grew its position in CG Oncology by 47.9% during the third quarter. GAMMA Investing LLC now owns 1,081 shares of the company’s stock worth $77,000 after buying an additional 350 shares in the last quarter. 26.56% of the stock is owned by institutional investors.

CG Oncology Company Profile

CG Oncology is a clinical-stage biotechnology company focused on developing treatments for bladder cancer. Based in Irvine, California, the company’s research centers on therapies delivered directly into the bladder.

Its lead investigational therapy, cretostimogene grenadenorepvec (formerly CG0070), is an oncolytic immunotherapy being developed for non-muscle-invasive bladder cancer, including disease that has not responded to Bacillus Calmette-Guérin (BCG) treatment. The modified virus is designed to target cancer cells and stimulate an immune response.

CG Oncology has no approved commercial products.