CG Oncology (NASDAQ:CGON) Receives Buy Rating from HC Wainwright

CG Oncology (NASDAQ:CGON)‘s stock had its “buy” rating restated by HC Wainwright in a research note issued on Monday,Benzinga reports. They presently have a $100.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 49.41% from the company’s current price.

CGON has been the topic of several other research reports. Royal Bank Of Canada raised their price target on CG Oncology from $79.00 to $81.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Wedbush raised their price target on CG Oncology from $77.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Wall Street Zen downgraded CG Oncology from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of CG Oncology in a report on Monday, April 20th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of CG Oncology from $91.00 to $96.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Eleven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $81.73.

CG Oncology Price Performance

NASDAQ:CGON opened at $66.93 on Monday. The business’s 50 day moving average is $67.06 and its two-hundred day moving average is $54.02. CG Oncology has a 52 week low of $23.65 and a 52 week high of $75.50. The company has a market cap of $5.90 billion, a PE ratio of -28.73 and a beta of 0.41.

CG Oncology (NASDAQ:CGON) last posted 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 the consensus estimate of $0.45 million. As a group, sell-side analysts expect that CG Oncology will post -2.89 EPS for the current fiscal year.

Insider Activity at CG Oncology

In other CG Oncology news, Director James Mulay sold 15,600 shares of the business’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 directly owned 15,600 shares in the company, valued at approximately $1,138,956. The trade was a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.80% of the company’s stock.

Institutional Trading of CG Oncology

A number of hedge funds and other institutional investors have recently made changes to their positions in CGON. Wellington Management Group LLP raised its position in shares of CG Oncology by 190.3% during the 3rd quarter. Wellington Management Group LLP now owns 5,512,779 shares of the company’s stock worth $222,055,000 after buying an additional 3,613,885 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of CG Oncology by 116.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,443,144 shares of the company’s stock worth $142,961,000 after buying an additional 1,854,386 shares in the last quarter. Seven Fleet Capital Management LP bought a new stake in shares of CG Oncology in the 4th quarter worth $62,909,000. Bank of America Corp DE raised its stake in shares of CG Oncology by 409.9% in the 2nd quarter. Bank of America Corp DE now owns 1,736,769 shares of the company’s stock worth $45,156,000 after buying an additional 1,396,170 shares in the last quarter. Finally, State Street Corp raised its stake in shares of CG Oncology by 46.4% in the 4th 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 in the last quarter. 26.56% of the stock is currently owned by institutional investors.

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.