Piper Sandler Issues Positive Forecast for CG Oncology (NASDAQ:CGON) Stock Price

CG Oncology (NASDAQ:CGON) had its price objective raised by Piper Sandler from $82.00 to $85.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s target price points to a potential upside of 14.44% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Wolfe Research initiated coverage on CG Oncology in a report on Tuesday, May 19th. They issued a “peer perform” rating for the company. JPMorgan Chase & Co. raised their price target on CG Oncology from $91.00 to $96.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Weiss Ratings restated a “sell (d-)” rating on shares of CG Oncology in a report on Friday, July 17th. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 price objective on shares of CG Oncology in a research note on Wednesday, July 29th. Finally, Truist Financial increased their target price on shares of CG Oncology from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Friday. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $83.36.

CG Oncology Price Performance

Shares of NASDAQ:CGON traded down $0.57 during trading on Friday, reaching $74.28. 225,275 shares of the company were exchanged, compared to its average volume of 1,158,239. The firm has a market capitalization of $6.55 billion, a PE ratio of -31.81 and a beta of 0.23. The business’s fifty day simple moving average is $66.86 and its 200-day simple moving average is $63.87. CG Oncology has a 12-month low of $23.65 and a 12-month high of $77.00.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings results on Friday, August 7th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.24). The company had revenue of $1.16 million during the quarter, compared to analysts’ expectations of $0.36 million. On average, sell-side analysts anticipate that CG Oncology will post -2.89 EPS for the current fiscal year.

Insider Activity

In other news, Director James Mulay sold 24,165 shares of CG Oncology stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $75.16, for a total value of $1,816,241.40. Following the transaction, the director owned 24,165 shares of the company’s stock, valued at $1,816,241.40. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brian Guan-Chyun Liu acquired 371,085 shares of the business’s stock in a transaction dated Thursday, June 25th. The stock was purchased at an average cost of $66.87 per share, for a total transaction of $24,814,453.95. Following the transaction, the director owned 1,886,236 shares in the company, valued at approximately $126,132,601.32. The trade was a 24.49% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have sold 37,129 shares of company stock worth $2,663,817. Corporate insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On CG Oncology

Large investors have recently made changes to their positions in the business. TimesSquare Capital Management LLC acquired a new stake in shares of CG Oncology in the 2nd quarter worth $14,983,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in CG Oncology during the 2nd quarter worth $412,000. Bank of New York Mellon Corp acquired a new position in CG Oncology during the 2nd quarter valued at about $16,584,000. State of Wyoming purchased a new stake in CG Oncology in the second quarter valued at about $247,000. Finally, Tema ETFs LLC raised its stake in CG Oncology by 8.8% in the second quarter. Tema ETFs LLC now owns 68,702 shares of the company’s stock valued at $4,881,000 after buying an additional 5,539 shares during the last quarter. 26.56% of the stock is owned by institutional investors and hedge funds.

CG Oncology News Summary

Here are the key news stories impacting CG Oncology this week:

• Positive Sentiment: Truist raised its price target to $85 from $82 and upgraded or reaffirmed a “Buy” rating, implying approximately 14% upside from the referenced share price. The target increase supports investor confidence in CG Oncology’s long-term prospects. Benzinga analyst update
• Positive Sentiment: HC Wainwright maintained its “Buy” rating and $100 price target. The firm raised its FY2030 earnings estimate to $6.88 per share from $6.77, reflecting optimism about the company’s longer-term earnings potential. HC Wainwright estimates
• Positive Sentiment: CG Oncology reported second-quarter revenue of $1.16 million, exceeding the consensus estimate of $0.36 million. Management also highlighted business and pipeline updates, which may reinforce the company’s development outlook. CG Oncology second-quarter results
• Neutral Sentiment: HC Wainwright lowered its FY2029 EPS estimate to $2.34 from $2.43, partially offsetting its higher FY2030 forecast. The firm nevertheless retained its Buy rating and $100 target. HC Wainwright revised estimates
• Negative Sentiment: Second-quarter EPS was a larger-than-expected loss of $0.90, compared with the consensus loss estimate of $0.66 and a loss of $0.54 a year earlier. The earnings miss and widening loss are the main near-term pressure on CGON. Zacks second-quarter earnings report
• Neutral Sentiment: Investors traded an unusually high volume of CGON call options, signaling increased speculative interest but not necessarily a fundamental change in the company’s outlook. CGON call options activity

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.