Truist Financial Reiterates “Buy” Rating for CG Oncology (NASDAQ:CGON)

CG Oncology (NASDAQ:CGON)‘s stock had its “buy” rating restated by analysts at Truist Financial in a research note issued to investors on Monday,Benzinga reports. They currently have a $77.00 price objective on the stock, up from their previous price objective of $75.00. Truist Financial’s price objective points to a potential upside of 9.02% from the company’s previous close.

A number of other research firms have also weighed in on CGON. Weiss Ratings reiterated a “sell (d-)” rating on shares of CG Oncology in a research note on Monday, April 20th. HC Wainwright increased their target price on CG Oncology from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, April 7th. JPMorgan Chase & Co. increased their target price on CG Oncology from $65.00 to $91.00 and gave the stock an “overweight” rating in a research note on Friday, April 17th. Piper Sandler increased their target price 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, Royal Bank Of Canada increased their target price on CG Oncology from $73.00 to $79.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Eleven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, CG Oncology has a consensus rating of “Moderate Buy” and an average price target of $80.64.

CG Oncology Stock Up 1.5%

CGON traded up $1.01 during trading on Monday, reaching $70.63. The company had a trading volume of 62,539 shares, compared to its average volume of 1,223,123. The stock has a market cap of $6.22 billion, a P/E ratio of -30.39 and a beta of 0.41. The business has a 50 day simple moving average of $65.66 and a 200-day simple moving average of $52.87. CG Oncology has a 52 week low of $23.32 and a 52 week high of $73.56.

CG Oncology (NASDAQ:CGON) last issued 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 company had revenue of $1.08 million during the quarter, compared to the consensus estimate of $0.45 million. As a group, equities research analysts expect that CG Oncology will post -2.56 EPS for the current fiscal year.

Insider Transactions at CG Oncology

In other CG Oncology news, Director James Mulay sold 15,600 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $73.01, for a total value of $1,138,956.00. Following the completion of the sale, the director owned 15,600 shares of the company’s stock, valued at approximately $1,138,956. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On CG Oncology

Institutional investors have recently added to or reduced their stakes in the business. Whittier Trust Co. of Nevada Inc. acquired a new stake in CG Oncology in the fourth quarter worth about $27,000. NFSG Corp acquired a new stake in CG Oncology in the first quarter worth about $34,000. Strengthening Families & Communities LLC acquired a new stake in CG Oncology in the third quarter worth about $40,000. Comerica Bank boosted its holdings in CG Oncology by 100.4% in the fourth quarter. Comerica Bank now owns 1,028 shares of the company’s stock worth $43,000 after acquiring an additional 515 shares in the last quarter. Finally, Fifth Third Bancorp acquired a new stake in CG Oncology in the first quarter worth about $74,000. Institutional investors and hedge funds 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.