CG Oncology, Inc. (NASDAQ:CGON) Receives $63.88 Average Price Target from Analysts

Shares of CG Oncology, Inc. (NASDAQ:CGON) have received an average recommendation of “Buy” from the nine ratings firms that are covering the stock, Marketbeat reports. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $65.14.

Several research analysts have issued reports on CGON shares. Royal Bank of Canada reiterated an “outperform” rating and set a $66.00 target price on shares of CG Oncology in a report on Friday, December 6th. TD Cowen started coverage on shares of CG Oncology in a report on Tuesday, January 7th. They set a “buy” rating on the stock. Finally, HC Wainwright reiterated a “buy” rating and set a $75.00 target price on shares of CG Oncology in a report on Friday, January 10th.

CG Oncology Stock Performance

NASDAQ CGON opened at $26.78 on Tuesday. The company’s 50-day moving average price is $29.15 and its 200-day moving average price is $33.38. CG Oncology has a 12 month low of $25.77 and a 12 month high of $47.78.

Insider Buying and Selling at CG Oncology

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $34.54, for a total transaction of $34,540.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Hong Fang Song sold 700,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $28.00, for a total transaction of $19,600,000.00. Following the sale, the director now directly owns 3,003,931 shares of the company’s stock, valued at approximately $84,110,068. The trade was a 18.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 702,000 shares of company stock valued at $19,664,200.

Institutional Trading of CG Oncology

Several hedge funds have recently modified their holdings of CGON. GF Fund Management CO. LTD. purchased a new stake in shares of CG Oncology during the fourth quarter valued at about $41,000. Amalgamated Bank raised its position in shares of CG Oncology by 107.6% in the 3rd quarter. Amalgamated Bank now owns 1,621 shares of the company’s stock valued at $61,000 after purchasing an additional 840 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of CG Oncology in the 4th quarter valued at approximately $68,000. KLP Kapitalforvaltning AS purchased a new position in shares of CG Oncology in the 4th quarter valued at approximately $100,000. Finally, Federated Hermes Inc. purchased a new position in shares of CG Oncology in the 4th quarter valued at approximately $172,000. 26.56% of the stock is owned by hedge funds and other institutional investors.

CG Oncology Company Profile

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.