CG Oncology (NASDAQ:CGON) Receives New Coverage from Analysts at Bank of America

Bank of America started coverage on shares of CG Oncology (NASDAQ:CGON) in a research report report published on Friday morning, Marketbeat.com reports. The firm issued a buy rating and a $65.00 price objective on the stock.

Several other research analysts also recently weighed in on CGON. The Goldman Sachs Group raised shares of CG Oncology from a neutral rating to a buy rating and lifted their target price for the stock from $43.00 to $50.00 in a research report on Monday, May 13th. Cantor Fitzgerald reissued an overweight rating and issued a $75.00 target price on shares of CG Oncology in a research report on Thursday, May 2nd. Finally, HC Wainwright reissued a buy rating and issued a $75.00 target price on shares of CG Oncology in a research report on Tuesday, May 28th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, CG Oncology currently has an average rating of Buy and a consensus target price of $64.00.

CG Oncology Stock Performance

NASDAQ CGON opened at $31.57 on Friday. The stock has a 50 day simple moving average of $33.50. CG Oncology has a 12 month low of $25.77 and a 12 month high of $50.23.

CG Oncology (NASDAQ:CGON) last released its earnings results on Thursday, May 9th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.01). The firm had revenue of $0.53 million for the quarter. On average, research analysts expect that CG Oncology will post -1.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CGON. BNP Paribas Financial Markets purchased a new position in CG Oncology during the first quarter valued at approximately $492,000. Capstone Investment Advisors LLC purchased a new position in CG Oncology during the first quarter valued at approximately $806,000. TimesSquare Capital Management LLC purchased a new position in CG Oncology during the first quarter valued at approximately $9,837,000. Vanguard Group Inc. purchased a new position in CG Oncology during the first quarter valued at approximately $97,678,000. Finally, Ameritas Investment Partners Inc. acquired a new stake in CG Oncology in the first quarter valued at approximately $102,000. 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.