Analysts Set CG Oncology, Inc. (NASDAQ:CGON) Price Target at $81.73

Shares of CG Oncology, Inc. (NASDAQ:CGON) have earned a consensus rating of “Moderate Buy” from the fourteen brokerages that are 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 1 year target price among analysts that have covered the stock in the last year is $81.7273.

A number of equities research analysts have commented on the stock. Wolfe Research began coverage on shares of CG Oncology in a research report on Tuesday, May 19th. They issued a “peer perform” rating for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of CG Oncology in a report on Friday, July 17th. Wedbush raised their price target on CG Oncology from $77.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Truist Financial reaffirmed a “buy” rating and issued a $82.00 price objective (up from $77.00) on shares of CG Oncology in a report on Thursday, May 14th. Finally, JPMorgan Chase & Co. upped their price objective on CG Oncology from $91.00 to $96.00 and gave the company an “overweight” rating in a research report on Monday, May 11th.

CG Oncology Stock Down 2.9%

Shares of CGON stock opened at $69.15 on Tuesday. The company has a 50 day moving average price of $66.16 and a 200-day moving average price of $63.48. CG Oncology has a 52 week low of $23.65 and a 52 week high of $77.00. The firm has a market capitalization of $6.10 billion, a PE ratio of -29.68 and a beta of 0.23.

CG Oncology (NASDAQ:CGON) last released its quarterly earnings data on Friday, May 8th. The company reported ($0.71) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.13). The firm had revenue of $1.08 million for the quarter, compared to analysts’ expectations of $0.45 million. Analysts anticipate that CG Oncology will post -2.89 earnings per share for the current year.

Insider Activity

In other news, Director James Mulay sold 24,165 shares of the stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $75.16, for a total value of $1,816,241.40. Following the transaction, the director owned 24,165 shares in the company, valued at $1,816,241.40. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Brian Guan-Chyun Liu acquired 371,085 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The stock was acquired at an average cost of $66.87 per share, for a total transaction of $24,814,453.95. Following the acquisition, the director owned 1,886,236 shares of the company’s stock, valued at $126,132,601.32. The trade was a 24.49% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 37,129 shares of company stock valued at $2,663,817 in the last quarter. 4.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CGON. NFSG Corp purchased a new stake in shares of CG Oncology in the 1st quarter worth $34,000. Comerica Bank raised its holdings in CG Oncology by 100.4% in the 4th quarter. Comerica Bank now owns 1,028 shares of the company’s stock worth $43,000 after purchasing an additional 515 shares during the period. LPL Financial LLC lifted its position in CG Oncology by 9.8% during the fourth quarter. LPL Financial LLC now owns 6,201 shares of the company’s stock valued at $257,000 after purchasing an additional 551 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in CG Oncology during the fourth quarter valued at $27,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in CG Oncology by 33.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,920 shares of the company’s stock valued at $163,000 after purchasing an additional 972 shares during the period. 26.56% of the stock is currently owned by 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.