CG Oncology (NASDAQ:CGON) Cut to Strong Sell at Wall Street Zen

Wall Street Zen cut shares of CG Oncology (NASDAQ:CGON) from a sell rating to a strong sell rating in a research note published on Saturday morning.

A number of other research analysts also recently commented on CGON. Wolfe Research began coverage on CG Oncology in a research report on Tuesday, May 19th. They set a “peer perform” rating for the company. Royal Bank Of Canada reduced their price target on shares of CG Oncology from $81.00 to $79.00 and set an “outperform” rating on the stock in a research report on Friday. HC Wainwright reaffirmed a “buy” rating and set a $100.00 price target on shares of CG Oncology in a research note on Wednesday, July 29th. 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, May 11th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of CG Oncology from $91.00 to $96.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $83.18.

CG Oncology Trading Up 1.9%

NASDAQ:CGON opened at $76.56 on Friday. The company has a market capitalization of $6.79 billion, a P/E ratio of -28.46 and a beta of 0.23. CG Oncology has a 12 month low of $23.65 and a 12 month high of $77.00. The business’s 50-day moving average is $67.47 and its 200 day moving average is $64.17.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.24). The firm had revenue of $1.16 million for the quarter, compared to the consensus estimate of $0.36 million. CG Oncology had a negative net margin of 3,602.68% and a negative return on equity of 26.58%. On average, research analysts forecast that CG Oncology will post -3.03 earnings per share for the current year.

Insider Activity at CG Oncology

In other CG Oncology news, Director James Mulay sold 24,165 shares of CG Oncology stock in a transaction on Friday, July 10th. The shares were sold at an average price of $75.16, for a total transaction of $1,816,241.40. Following the completion of the transaction, the director directly owned 24,165 shares of the company’s stock, valued at $1,816,241.40. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Leonard E. Post sold 5,000 shares of the business’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $70.00, for a total transaction of $350,000.00. Following the transaction, the director owned 5,000 shares in the company, valued at $350,000. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 37,129 shares of company stock worth $2,663,817. Company insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On CG Oncology

Large investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in CG Oncology in the 2nd quarter worth about $444,509,000. Wellington Management Group LLP boosted its position in shares of CG Oncology by 190.3% during the third quarter. Wellington Management Group LLP now owns 5,512,779 shares of the company’s stock valued at $222,055,000 after buying an additional 3,613,885 shares during the period. Price T Rowe Associates Inc. MD boosted its position 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 period. Seven Fleet Capital Management LP bought a new position in shares of CG Oncology during the fourth quarter valued at approximately $62,909,000. Finally, Bank of America Corp DE grew its stake in shares of CG Oncology by 409.9% during the second quarter. Bank of America Corp DE now owns 1,736,769 shares of the company’s stock valued at $45,156,000 after buying an additional 1,396,170 shares during the last quarter. 26.56% of the stock is owned by hedge funds and other institutional investors.

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.