CG Oncology’s (CGON) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of CG Oncology (NASDAQ:CGON) in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a $75.00 price target on the stock.

A number of other equities research analysts also recently weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $66.00 target price on shares of CG Oncology in a report on Friday, December 6th. Morgan Stanley reissued an “overweight” rating and issued a $55.00 price objective on shares of CG Oncology in a research note on Friday, March 7th. Finally, TD Cowen began coverage on CG Oncology in a research report on Tuesday, January 7th. They set a “buy” rating on the stock. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $63.88.

CG Oncology Stock Performance

CGON stock opened at $26.94 on Tuesday. The company’s fifty day simple moving average is $27.96 and its 200 day simple moving average is $31.94. CG Oncology has a 12-month low of $23.91 and a 12-month high of $46.99.

Insider Activity

In other news, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction on Monday, January 13th. The stock was sold at an average price of $29.66, for a total transaction of $29,660.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Institutional Trading of CG Oncology

Several hedge funds have recently added to or reduced their stakes in CGON. Massachusetts Financial Services Co. MA raised its holdings in shares of CG Oncology by 4.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 279,945 shares of the company’s stock worth $10,562,000 after purchasing an additional 13,158 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of CG Oncology by 114.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 379,664 shares of the company’s stock valued at $14,325,000 after buying an additional 202,262 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of CG Oncology by 21.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 73,149 shares of the company’s stock worth $2,760,000 after acquiring an additional 12,848 shares during the period. FMR LLC increased its holdings in CG Oncology by 83,581.6% in the 3rd quarter. FMR LLC now owns 145,606 shares of the company’s stock worth $5,494,000 after acquiring an additional 145,432 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in CG Oncology by 876.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 26,660 shares of the company’s stock valued at $1,006,000 after acquiring an additional 23,931 shares during the period. Institutional investors own 26.56% of the company’s stock.

About CG Oncology

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.