CG Oncology's Buy Rating Reaffirmed by HC Wainwright

Analysts at HC Wainwright have reaffirmed their "buy" rating for CG Oncology (NASDAQ:CGON) in a recent research note released on Monday. They have also set a price target of $75.00 for the stock, suggesting a potential upside of 183.88% based on its previous closing price.

Stock Performance and Analyst Ratings

CG Oncology's stock has garnered attention from various analysts. Recently, Royal Bank of Canada maintained an "outperform" rating while issuing a price target of $66.00 for CGON shares. Additionally, Morgan Stanley has given the stock an "overweight" rating with a target price of $55.00. Moreover, TD Cowen began coverage on CG Oncology, marking it with a "buy" rating. Overall, nine analysts have provided buy ratings, and one has assigned a strong buy rating. Currently, data from MarketBeat indicates an average rating of "Buy" and a consensus target price of $63.88.

Recent Trading Activity

On Monday, CG Oncology's shares opened at $26.42, reflecting a decline of 1.9%. The stock's fifty-day moving average stands at $27.91, while the two-hundred-day moving average is $31.80. Over the last year, CG Oncology reached a low of $23.91 and a high of $46.99. The company's market capitalization is approximately $2.01 billion, with a P/E ratio of -18.61 and a beta of 1.60.

Recent Earnings Results

CG Oncology recently announced its earnings results for the quarter ending March 25th, where it reported an EPS of ($0.48). This figure fell short of analysts' expectations of ($0.37) by $0.11. The company generated revenues of $0.46 million, significantly exceeding the consensus estimate of $0.11 million. Notably, CG Oncology posted a negative net margin of 10,642.98% and a negative return on equity of 18.97%. Analysts forecast the company will report an EPS of -1.31 for the ongoing fiscal year.

Insider Activity

In related news, Director Leonard E. Post sold 1,000 shares of CG Oncology on January 13th for $29.66 per share, resulting in a total transaction of $29,660. This sale has been made public through a filing with the Securities and Exchange Commission.

Institutional Holdings and Investments

Recently, multiple institutional investors have adjusted their holdings in CG Oncology. Notably, Wellington Management Group LLP increased its stake by 274.4% during the fourth quarter, owning 1,910,470 shares worth approximately $54.79 million following a purchase of 1,400,251 shares. Other institutions such as California State Teachers Retirement System and UBS Asset Management also raised their positions significantly. Presently, institutional investors collectively own about 26.56% of the company.

About CG Oncology

CG Oncology specializes in oncolytic immunotherapy, focusing on developing treatments for bladder cancer. The company is known for its therapeutics such as BOND-003 for high-risk BCG-unresponsive non-muscle invasive bladder cancer patients, and CORE-001 and CORE-002 for various combinations in treating different types of bladder cancer.

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