CG Oncology (NASDAQ:CGON) Sets New 12-Month High – Still a Buy?

Shares of CG Oncology, Inc. (NASDAQ:CGON) hit a new 52-week high during trading on Wednesday . The stock traded as high as $73.91 and last traded at $73.6790, with a volume of 326846 shares trading hands. The stock had previously closed at $72.07.

More CG Oncology News

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

• Positive Sentiment: Several firms reaffirmed or improved their outlook on CG Oncology, including new bullish ratings and price targets from RBC Capital ($81), JPMorgan ($96), Truist (“Buy”), and HC Wainwright (“Buy” with a $100 target), signaling continued confidence in the company’s pipeline and commercial potential.
• Positive Sentiment: Wedbush also issued a positive forecast for CGON, adding to the recent wave of supportive analyst coverage that can help drive investor sentiment and buying interest.
• Positive Sentiment: The company’s presentation at the Bank of America Global Healthcare Conference and its presence at the AUA annual meeting kept attention on CG Oncology’s non-muscle invasive bladder cancer (NMIBC) program, reinforcing visibility around its lead opportunity.
• Neutral Sentiment: HC Wainwright lowered near-term EPS estimates for 2026 and 2027 and also cut its FY2028 and FY2029 forecasts, suggesting a longer path to profitability than previously expected, though the firm still maintained a bullish rating.
• Neutral Sentiment: HC Wainwright raised its FY2030 EPS estimate, indicating stronger expected earnings power further out, but this is likely less important to the stock’s immediate trading action than the current analyst upgrades.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CGON. Truist Financial reissued a “buy” rating and set a $77.00 price objective (up from $75.00) on shares of CG Oncology in a research report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of CG Oncology in a research report on Monday, April 20th. Wedbush increased their price objective on shares of CG Oncology from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday. Piper Sandler increased their price objective on shares of CG Oncology from $55.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, January 16th. Finally, HC Wainwright increased their price objective on shares of CG Oncology from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, April 7th. Eleven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $81.27.

CG Oncology Stock Performance

The business’s fifty day moving average price is $66.44 and its 200-day moving average price is $53.45. The stock has a market cap of $6.53 billion, a PE ratio of -31.76 and a beta of 0.41.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings results on Friday, May 8th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.13). The firm had revenue of $1.08 million for the quarter, compared to analysts’ expectations of $0.45 million. Analysts forecast that CG Oncology, Inc. will post -2.66 earnings per share for the current fiscal year.

Insider Activity

In other news, Director James Mulay sold 15,600 shares of the firm’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $73.01, for a total transaction of $1,138,956.00. Following the sale, the director owned 15,600 shares of the company’s stock, valued at $1,138,956. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CG Oncology

Several institutional investors have recently made changes to their positions in the business. First Trust Advisors LP lifted its stake in shares of CG Oncology by 83.3% in the 1st quarter. First Trust Advisors LP now owns 333,192 shares of the company’s stock worth $22,550,000 after purchasing an additional 151,394 shares during the period. KBC Group NV bought a new position in shares of CG Oncology in the 1st quarter worth approximately $78,000. Jennison Associates LLC lifted its stake in shares of CG Oncology by 68.5% in the 1st quarter. Jennison Associates LLC now owns 476,136 shares of the company’s stock worth $32,225,000 after purchasing an additional 193,630 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of CG Oncology by 7.7% in the 1st quarter. Bank of New York Mellon Corp now owns 167,030 shares of the company’s stock worth $11,305,000 after purchasing an additional 11,874 shares during the period. Finally, NFSG Corp bought a new position in shares of CG Oncology in the 1st quarter worth approximately $34,000. 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.