CG Oncology (NASDAQ:CGON) Hits New 52-Week High on Analyst Upgrade

Shares of CG Oncology, Inc. (NASDAQ:CGON) reached a new 52-week high during trading on Tuesday after HC Wainwright raised their price target on the stock from $80.00 to $100.00. HC Wainwright currently has a buy rating on the stock. CG Oncology traded as high as $69.48 and last traded at $68.88, with a volume of 691604 shares. The stock had previously closed at $67.55.

Other analysts also recently issued research reports about the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of CG Oncology in a report on Wednesday, January 21st. Wedbush initiated coverage on shares of CG Oncology in a report on Thursday, December 11th. They set an “outperform” rating and a $70.00 price target for the company. Piper Sandler boosted their price target on shares of CG Oncology from $55.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, January 16th. Wall Street Zen downgraded CG Oncology from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. Finally, Morgan Stanley set a $93.00 price objective on shares of CG Oncology in a report on Friday, January 9th. Eleven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, CG Oncology has a consensus rating of “Moderate Buy” and a consensus target price of $70.67.

Insider Activity at CG Oncology

In other news, Director James Mulay sold 1,964 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $63.50, for a total value of $124,714.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 7.40% of the stock is currently owned by company insiders.

Institutional Trading of CG Oncology

Hedge funds and other institutional investors have recently modified their holdings of the business. Seven Fleet Capital Management LP acquired a new stake in shares of CG Oncology during the fourth quarter worth approximately $62,909,000. T. Rowe Price Investment Management Inc. acquired a new stake in shares of CG Oncology during the fourth quarter worth approximately $17,547,000. Invesco Ltd. boosted its holdings in shares of CG Oncology by 10.9% during the fourth quarter. Invesco Ltd. now owns 38,140 shares of the company’s stock worth $1,584,000 after purchasing an additional 3,761 shares during the period. ADAR1 Capital Management LLC boosted its holdings in shares of CG Oncology by 3.7% during the fourth quarter. ADAR1 Capital Management LLC now owns 258,139 shares of the company’s stock worth $10,718,000 after purchasing an additional 9,222 shares during the period. Finally, XTX Topco Ltd acquired a new stake in shares of CG Oncology during the fourth quarter worth approximately $1,400,000. Institutional investors and hedge funds own 26.56% of the company’s stock.

CG Oncology Price Performance

The firm has a market capitalization of $5.80 billion, a price-to-earnings ratio of -33.20 and a beta of 0.70. The firm’s fifty day moving average is $59.44 and its 200 day moving average is $48.65.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings data on Friday, February 27th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.61) by $0.10. The firm had revenue of $2.32 million for the quarter. Equities research analysts forecast that CG Oncology, Inc. will post -1.31 EPS for the current fiscal year.

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.