CG Oncology, Inc. (NASDAQ:CGON) Given Average Rating of “Moderate Buy” by Brokerages

Shares of CG Oncology, Inc. (NASDAQ:CGON) have earned an average rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $81.7273.

A number of equities research analysts have issued reports on CGON shares. Truist Financial reiterated a “buy” rating and set a $82.00 target price (up from $77.00) on shares of CG Oncology in a report on Thursday, May 14th. JPMorgan Chase & Co. upped their price objective on CG Oncology from $91.00 to $96.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Royal Bank Of Canada increased their price objective on CG Oncology from $79.00 to $81.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Wall Street Zen lowered CG Oncology from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Finally, Wolfe Research initiated coverage on CG Oncology in a research note on Tuesday, May 19th. They set a “peer perform” rating for the company.

CG Oncology Trading Down 0.1%

CGON opened at $69.20 on Friday. The stock’s 50-day moving average price is $64.49 and its 200 day moving average price is $59.62. CG Oncology has a 12-month low of $23.65 and a 12-month high of $77.00. The firm has a market cap of $6.10 billion, a price-to-earnings ratio of -29.70 and a beta of 0.22.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings results on Friday, May 8th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.13). The business had revenue of $1.08 million for the quarter, compared to the consensus estimate of $0.45 million. On average, research analysts forecast that CG Oncology will post -2.89 earnings per share for the current year.

Insider Activity

In related news, Director James Mulay sold 15,600 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $73.01, for a total value of $1,138,956.00. Following the sale, the director owned 15,600 shares of the company’s stock, valued at $1,138,956. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Leonard E. Post sold 5,000 shares of CG Oncology stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $70.00, for a total transaction of $350,000.00. Following the completion of the transaction, the director owned 5,000 shares of the company’s stock, valued at $350,000. This represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 28,564 shares of company stock worth $1,986,532. 4.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CG Oncology

A number of institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE lifted its holdings in CG Oncology by 21.8% during the 1st quarter. Bank of America Corp DE now owns 1,449,364 shares of the company’s stock worth $98,093,000 after buying an additional 259,311 shares during the last quarter. Stempoint Capital LP acquired a new stake in shares of CG Oncology during the 1st quarter worth about $13,916,000. California State Teachers Retirement System raised its position in shares of CG Oncology by 23.6% during the 1st quarter. California State Teachers Retirement System now owns 51,499 shares of the company’s stock worth $3,485,000 after acquiring an additional 9,841 shares in the last quarter. Royal Bank of Canada lifted its stake in CG Oncology by 18.6% during the first quarter. Royal Bank of Canada now owns 11,439 shares of the company’s stock worth $774,000 after purchasing an additional 1,793 shares during the last quarter. Finally, EcoR1 Capital LLC lifted its stake in CG Oncology by 3.5% during the first quarter. EcoR1 Capital LLC now owns 1,102,000 shares of the company’s stock worth $74,583,000 after purchasing an additional 37,200 shares during the last quarter. Institutional investors and hedge funds own 26.56% of the company’s stock.

About CG Oncology

CG Oncology, Inc (NASDAQ: CGON) is a clinical-stage biopharmaceutical company focused on the discovery and development of novel antibody-based immunotherapies for the treatment of solid tumor cancers. The company leverages a platform-driven approach to identify and optimize antibody candidates that engage key immune checkpoints and co-stimulatory pathways within the tumor microenvironment. Its pipeline encompasses multiple preclinical programs alongside early-phase clinical trials designed to assess safety, dosing and preliminary anti-tumor activity.

Headquartered in South San Francisco, California, CG Oncology conducts clinical research primarily in the United States, collaborating with leading academic medical centers and contract research organizations to advance its lead candidates.