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

Shares of CG Oncology, Inc. (NASDAQ:CGON) hit a new 52-week high on Friday . The stock traded as high as $57.92 and last traded at $57.59, with a volume of 258990 shares. The stock had previously closed at $56.42.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CGON shares. Morgan Stanley set a $93.00 price target on CG Oncology in a research note on Friday, January 9th. Wedbush initiated coverage on CG Oncology in a research report on Thursday, December 11th. They issued an “outperform” rating and a $70.00 target price for the company. Royal Bank Of Canada boosted their price target on CG Oncology from $61.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. Piper Sandler raised their price objective on CG Oncology from $55.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. Finally, Truist Financial boosted their target price on shares of CG Oncology from $66.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, CG Oncology presently has an average rating of “Moderate Buy” and an average target price of $68.58.

CG Oncology Trading Up 2.1%

The firm has a market capitalization of $4.65 billion, a price-to-earnings ratio of -28.25 and a beta of 1.32. The business has a 50-day moving average price of $48.16 and a two-hundred day moving average price of $40.73.

Insiders Place Their Bets

In other CG Oncology news, Director James Mulay sold 11,145 shares of the firm’s stock in a transaction 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 SEC, which is available through this hyperlink. 7.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CG Oncology

Several institutional investors have recently modified their holdings of CGON. Vanguard Group Inc. boosted its stake in CG Oncology by 11.4% during the 3rd quarter. Vanguard Group Inc. now owns 6,577,281 shares of the company’s stock valued at $264,933,000 after purchasing an additional 670,770 shares during the period. Wellington Management Group LLP increased its stake in shares of CG Oncology by 8.8% in the fourth quarter. Wellington Management Group LLP now owns 5,999,790 shares of the company’s stock valued at $249,111,000 after purchasing an additional 487,011 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of CG Oncology by 116.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,443,144 shares of the company’s stock valued at $142,961,000 after buying an additional 1,854,386 shares during the last quarter. State Street Corp boosted its position in shares of CG Oncology by 46.4% during the fourth quarter. State Street Corp now owns 2,996,695 shares of the company’s stock worth $124,423,000 after buying an additional 950,028 shares during the period. Finally, Alliancebernstein L.P. boosted its position in shares of CG Oncology by 15.0% during the second quarter. Alliancebernstein L.P. now owns 2,164,214 shares of the company’s stock worth $56,270,000 after buying an additional 281,637 shares during the period. 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.