CG Oncology (NASDAQ:CGON) Raised to “Buy” at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of CG Oncology (NASDAQ:CGON) from a neutral rating to a buy rating in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has $50.00 target price on the stock, up from their previous target price of $43.00.

A number of other equities analysts also recently commented on CGON. HC Wainwright restated a buy rating and set a $75.00 price objective on shares of CG Oncology in a research note on Monday, May 6th. Cantor Fitzgerald restated an overweight rating and set a $75.00 price objective on shares of CG Oncology in a research note on Thursday, May 2nd. Finally, Morgan Stanley started coverage on shares of CG Oncology in a research note on Tuesday, February 20th. They set an overweight rating and a $55.00 price objective for the company.

CG Oncology Price Performance

CG Oncology stock opened at $28.01 on Monday. The business’s 50-day simple moving average is $37.40. CG Oncology has a one year low of $25.77 and a one year high of $50.23.

Institutional Investors Weigh In On CG Oncology

Several hedge funds have recently bought and sold shares of CGON. Ameritas Investment Partners Inc. acquired a new stake in CG Oncology in the 1st quarter valued at about $102,000. BNP Paribas Financial Markets acquired a new stake in CG Oncology in the 1st quarter valued at about $492,000. Capstone Investment Advisors LLC acquired a new stake in CG Oncology during the first quarter worth approximately $806,000. StemPoint Capital LP acquired a new stake in CG Oncology during the first quarter worth approximately $1,788,000. Finally, TimesSquare Capital Management LLC acquired a new stake in CG Oncology during the first quarter worth approximately $9,837,000. 26.56% of the stock is currently owned by institutional investors and hedge funds.

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.