Analysts Set CG Oncology, Inc. (NASDAQ:CGON) Price Target at $69.00

CG Oncology, Inc. (NASDAQ:CGON) has been given an average rating of “Moderate Buy” by the fourteen ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $69.00.

CGON has been the topic of a number of research analyst reports. Morgan Stanley set a $93.00 price objective on shares of CG Oncology in a research report on Friday, January 9th. Truist Financial boosted their price target on shares of CG Oncology from $66.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. Wedbush initiated coverage on shares of CG Oncology in a research note on Thursday, December 11th. They issued an “outperform” rating and a $70.00 price target for the company. The Goldman Sachs Group reaffirmed a “buy” rating and set a $82.00 price objective on shares of CG Oncology in a research report on Monday, January 12th. Finally, HC Wainwright upped their target price on CG Oncology from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Friday.

Insiders Place Their Bets

In other CG Oncology news, Director James Mulay sold 11,145 shares of the stock in a transaction on Friday, January 9th. The stock was sold at an average price of $52.47, for a total value of $584,778.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 7.40% of the stock is currently owned by insiders.

Institutional Trading of CG Oncology

Hedge funds and other institutional investors have recently modified their holdings of the business. Whittier Trust Co. of Nevada Inc. purchased a new position in CG Oncology during the 4th quarter valued at about $27,000. Winthrop Capital Management LLC bought a new position in shares of CG Oncology during the second quarter valued at approximately $38,000. Strengthening Families & Communities LLC bought a new position in shares of CG Oncology during the third quarter valued at approximately $40,000. Comerica Bank lifted its holdings in shares of CG Oncology by 100.4% during the fourth quarter. Comerica Bank now owns 1,028 shares of the company’s stock valued at $43,000 after purchasing an additional 515 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of CG Oncology by 15.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,279 shares of the company’s stock worth $85,000 after purchasing an additional 433 shares in the last quarter. 26.56% of the stock is owned by hedge funds and other institutional investors.

CG Oncology Price Performance

CGON opened at $57.76 on Friday. CG Oncology has a one year low of $14.80 and a one year high of $60.00. The business has a 50 day simple moving average of $50.78 and a two-hundred day simple moving average of $42.54. The firm has a market capitalization of $4.66 billion, a price-to-earnings ratio of -27.90 and a beta of 1.32.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings data on Friday, February 27th. The company reported ($0.51) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.10. The business had revenue of $2.32 million during the quarter. As a group, sell-side analysts expect that CG Oncology will post -1.31 EPS for the current fiscal year.

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.