CG Oncology (NASDAQ:CGON) Hits New 1-Year High – Should You Buy?

CG Oncology, Inc. (NASDAQ:CGON) reached a new 52-week high on Wednesday . The stock traded as high as $57.62 and last traded at $57.6050, with a volume of 287964 shares changing hands. The stock had previously closed at $54.69.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wall Street Zen raised shares of CG Oncology from a “sell” rating to a “hold” rating in a research note on Friday, October 3rd. JPMorgan Chase & Co. lifted their price target on shares of CG Oncology from $41.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, September 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of CG Oncology in a research report on Wednesday. Truist Financial boosted their target price on CG Oncology from $62.00 to $66.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $82.00 target price on shares of CG Oncology in a research note on Monday, January 12th. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $67.83.

CG Oncology Price Performance

The stock’s 50-day moving average price is $44.15 and its 200 day moving average price is $37.06. The firm has a market capitalization of $4.34 billion, a PE ratio of -26.38 and a beta of 1.35.

CG Oncology (NASDAQ:CGON) last issued its earnings results on Friday, November 14th. The company reported ($0.57) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.57). The firm had revenue of $0.16 million for the quarter, compared to the consensus estimate of $0.07 million. Equities research analysts forecast that CG Oncology, Inc. will post -1.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Leonard E. Post sold 1,000 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $41.43, for a total transaction of $41,430.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James Mulay sold 11,145 shares of CG Oncology stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $52.47, for a total value of $584,778.15. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On CG Oncology

A number of hedge funds and other institutional investors have recently bought and sold shares of CGON. Strengthening Families & Communities LLC acquired a new position in shares of CG Oncology during the third quarter worth $40,000. Winthrop Capital Management LLC purchased a new position in shares of CG Oncology in the 2nd quarter valued at approximately $38,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of CG Oncology by 15.6% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,945 shares of the company’s stock valued at $77,000 after purchasing an additional 398 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in CG Oncology by 15.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,279 shares of the company’s stock worth $85,000 after purchasing an additional 433 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in CG Oncology during the 3rd quarter worth approximately $211,000. Hedge funds and other institutional investors own 26.56% of the company’s stock.

CG Oncology Company Profile

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.