CG Oncology (NASDAQ:CGON) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of CG Oncology (NASDAQ:CGON) from a strong sell rating to a sell rating in a research note released on Saturday,Wall Street Zen reports.

CGON has been the topic of several other research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of CG Oncology in a research report on Thursday, October 15th. Royal Bank Of Canada cut their price objective on shares of CG Oncology from $81.00 to $79.00 and set an “outperform” rating for the company in a report on Friday, August 7th. Truist Financial lifted their price objective on shares of CG Oncology from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Piper Sandler boosted their target price on shares of CG Oncology from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, HC Wainwright reissued a “buy” rating and set a $100.00 target price on shares of CG Oncology in a report on Wednesday, July 29th. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $88.11.

CG Oncology Stock Performance

Shares of CG Oncology stock opened at $74.74 on Friday. CG Oncology has a 52-week low of $35.80 and a 52-week high of $80.97. The stock’s 50-day simple moving average is $68.24 and its 200 day simple moving average is $66.18. The stock has a market capitalization of $6.62 billion, a P/E ratio of -27.08 and a beta of 0.35.

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

Insiders Place Their Bets

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $62.06, for a total transaction of $62,060.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders sold 3,000 shares of company stock worth $209,580. 4.80% of the stock is owned by insiders.

Institutional Investors Weigh In On CG Oncology

Institutional investors and hedge funds have recently modified their holdings of the company. Fisher Asset Management LLC raised its holdings in shares of CG Oncology by 4.4% in the 3rd quarter. Fisher Asset Management LLC now owns 476,917 shares of the company’s stock valued at $33,809,000 after acquiring an additional 19,939 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of CG Oncology by 48.6% during the third quarter. Russell Investments Group Ltd. now owns 248,725 shares of the company’s stock worth $17,597,000 after purchasing an additional 81,296 shares in the last quarter. Jefferies Financial Group Inc. grew its holdings in shares of CG Oncology by 8.5% during the third quarter. Jefferies Financial Group Inc. now owns 835,342 shares of the company’s stock worth $59,217,000 after purchasing an additional 65,395 shares in the last quarter. Knights of Columbus Asset Advisors LLC grew its holdings in shares of CG Oncology by 6.3% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 22,186 shares of the company’s stock worth $1,573,000 after purchasing an additional 1,316 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of CG Oncology by 4.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,728 shares of the company’s stock worth $255,000 after purchasing an additional 175 shares during the last quarter. 26.56% of the stock is owned by hedge funds and other institutional investors.

About CG Oncology

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.