CG Oncology (NASDAQ:CGON) Reaches New 1-Year High on Analyst Upgrade

CG Oncology, Inc. (NASDAQ:CGON)’s share price hit a new 52-week high on Tuesday after HC Wainwright raised their price target on the stock from $80.00 to $100.00. HC Wainwright currently has a buy rating on the stock. CG Oncology traded as high as $69.48 and last traded at $68.88, with a volume of 691604 shares. The stock had previously closed at $67.55.

A number of other brokerages have also recently weighed in on CGON. The Goldman Sachs Group restated a “buy” rating and issued a $82.00 price objective on shares of CG Oncology in a research note on Monday, January 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of CG Oncology in a research report on Wednesday, January 21st. Piper Sandler boosted their price objective on CG Oncology from $55.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Wedbush initiated coverage on shares of CG Oncology in a research note on Thursday, December 11th. They set an “outperform” rating and a $70.00 target price for the company. Finally, Royal Bank Of Canada upped their target price on shares of CG Oncology from $61.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Eleven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $70.67.

Insider Buying and Selling

In other CG Oncology news, Director James Mulay sold 11,145 shares of the company’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $52.47, for a total value of $584,778.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 7.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CG Oncology

Hedge funds have recently made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of CG Oncology in the 4th quarter valued at $27,000. Strengthening Families & Communities LLC acquired a new position in shares of CG Oncology in the 3rd quarter worth approximately $40,000. Comerica Bank raised its holdings in shares of CG Oncology by 100.4% in the 4th quarter. Comerica Bank now owns 1,028 shares of the company’s stock worth $43,000 after buying an additional 515 shares in the last quarter. Picton Mahoney Asset Management acquired a new position in shares of CG Oncology in the 4th quarter worth approximately $118,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of CG Oncology by 33.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,920 shares of the company’s stock worth $163,000 after buying an additional 972 shares in the last quarter. Institutional investors and hedge funds own 26.56% of the company’s stock.

CG Oncology Trading Up 1.7%

The stock has a fifty day moving average price of $59.44 and a 200-day moving average price of $48.65. The firm has a market capitalization of $5.80 billion, a price-to-earnings ratio of -33.20 and a beta of 0.70.

CG Oncology (NASDAQ:CGON) last announced its earnings results on Friday, February 27th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.10. The firm had revenue of $2.32 million for the quarter. On average, equities analysts expect that CG Oncology, Inc. will post -1.31 EPS for the current year.

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.