CG Oncology (NASDAQ:CGON) Price Target Raised to $80.00

CG Oncology (NASDAQ:CGON) had its price objective lifted by equities research analysts at HC Wainwright from $75.00 to $80.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target suggests a potential upside of 35.81% from the company’s current price.

Several other equities research analysts have also recently issued reports on the stock. Royal Bank Of Canada raised their price objective on shares of CG Oncology from $61.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. Weiss Ratings restated a “sell (d-)” rating on shares of CG Oncology in a report on Wednesday, January 21st. Truist Financial upped their price objective on CG Oncology from $66.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. The Goldman Sachs Group reissued a “buy” rating and set a $82.00 target price on shares of CG Oncology in a research note on Monday, January 12th. Finally, Wedbush initiated coverage on CG Oncology in a research note on Thursday, December 11th. They issued an “outperform” rating and a $70.00 price target on the stock. Eleven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.00.

CG Oncology Stock Performance

Shares of NASDAQ:CGON traded up $2.80 during midday trading on Friday, hitting $58.91. The company’s stock had a trading volume of 515,889 shares, compared to its average volume of 1,161,141. CG Oncology has a 12-month low of $14.80 and a 12-month high of $60.00. The company has a market cap of $4.75 billion, a P/E ratio of -28.88 and a beta of 1.32. The business’s 50 day simple moving average is $50.03 and its 200 day simple moving average is $41.84.

CG Oncology (NASDAQ:CGON) last posted its quarterly earnings results on Friday, February 27th. The company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.61) by $0.10. The company had revenue of $2.32 million during the quarter. On average, sell-side analysts predict that CG Oncology will post -1.31 earnings per share for the current fiscal year.

Insider Transactions at CG Oncology

In related news, Director James Mulay sold 11,145 shares of the firm’s stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $52.47, for a total transaction of $584,778.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. purchased a new position in CG Oncology in the fourth quarter valued at $27,000. Winthrop Capital Management LLC purchased a new stake in CG Oncology during the 2nd quarter worth about $38,000. Strengthening Families & Communities LLC purchased a new position in shares of CG Oncology in the 3rd quarter valued at about $40,000. Comerica Bank increased 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 valued at $43,000 after acquiring an additional 515 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of CG Oncology by 15.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,279 shares of the company’s stock worth $85,000 after acquiring an additional 433 shares in the last quarter. Hedge funds and other institutional investors 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.