CG Oncology (NASDAQ:CGON) Upgraded to “Sell” at Wall Street Zen

CG Oncology (NASDAQ:CGON) was upgraded by equities research analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other research firms have also weighed in on CGON. Weiss Ratings reissued a “sell (d-)” rating on shares of CG Oncology in a research report on Thursday, October 15th. Piper Sandler raised their price objective on shares of CG Oncology from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. HC Wainwright restated a “buy” rating and issued a $100.00 price objective on shares of CG Oncology in a research report on Wednesday, July 29th. Truist Financial increased their price objective on CG Oncology from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Finally, Royal Bank Of Canada reduced their price target on shares of CG Oncology from $81.00 to $79.00 and set an “outperform” rating on the stock in a research report on Friday, August 7th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, CG Oncology has an average rating of “Moderate Buy” and a consensus price target of $87.50.

CG Oncology Stock Performance

Shares of CGON stock opened at $75.99 on Friday. CG Oncology has a 52-week low of $35.80 and a 52-week high of $80.97. The firm has a market capitalization of $6.74 billion, a PE ratio of -28.25 and a beta of 0.35. The stock has a fifty day simple moving average of $68.23 and a two-hundred day simple moving average of $66.09.

CG Oncology (NASDAQ:CGON) last released its quarterly earnings results on Friday, November 6th. The company reported ($0.64) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.19. The company had revenue of $1.60 million for the quarter, compared to analyst estimates of $0.55 million. CG Oncology had a negative return on equity of 25.20% and a negative net margin of 3,602.68%. On average, sell-side analysts forecast that CG Oncology will post -3.31 EPS for the current fiscal year.

Insider Buying and Selling at CG Oncology

In related news, Director Leonard E. Post sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $62.06, for a total transaction of $62,060.00. Following the completion of the sale, the director directly owned 1,000 shares in the company, valued at approximately $62,060. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 3,000 shares of company stock valued at $209,580 in the last three months. Company insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. WINTON GROUP Ltd acquired a new position in shares of CG Oncology in the second quarter valued at approximately $718,000. Legal & General Group Plc bought a new stake in CG Oncology in the 2nd quarter worth about $2,846,000. Jefferies Financial Group Inc. acquired a new position in CG Oncology during the 2nd quarter valued at about $54,705,000. Jupiter Topco LLC purchased a new stake in CG Oncology in the 2nd quarter valued at $1,634,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in CG Oncology during the second quarter valued at approximately $5,766,000. Institutional investors and hedge funds own 26.56% of the company’s stock.

Key CG Oncology News

Here are the key news stories impacting CG Oncology this week:

• Positive Sentiment: CG Oncology reported a third-quarter loss of $0.64 per share, narrower than analysts’ estimates of about $0.83–$0.86 per share. Zacks earnings report
• Positive Sentiment: Revenue was $1.6 million, above the approximately $0.55 million analysts expected, further supporting the favorable market reaction. CG Oncology Gains on Q3 Results
• Neutral Sentiment: The quarterly loss widened from $0.57 per share a year earlier to $0.64, despite beating current estimates. Investors should weigh that ongoing loss against the earnings and revenue surprises. Zacks earnings report

CG Oncology Company Profile

CG Oncology, Inc (NASDAQ: CGON) is a clinical-stage biotechnology company focused on developing therapies for bladder cancer and other cancers affecting the urinary tract. The company is developing medicines designed to stimulate the immune system and target tumor cells within the bladder.

Its lead product candidate is cretostimogene grenadenorep, an investigational intravesical therapy based on an oncolytic adenovirus. The treatment is designed to be administered directly into the bladder, where it may selectively infect cancer cells, promote their destruction and activate an immune response against the tumor.