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

CG Oncology (NASDAQ:CGON) was downgraded by Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued to investors on Saturday.

CGON has been the topic of several other reports. HC Wainwright restated a “buy” rating and set a $100.00 price target on shares of CG Oncology in a research note on Wednesday, July 29th. Wedbush raised their price objective on CG Oncology from $77.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Truist Financial lifted their price objective on CG Oncology from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Friday. JPMorgan Chase & Co. boosted 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. Finally, Wolfe Research initiated coverage on CG Oncology in a research note on Tuesday, May 19th. They issued a “peer perform” rating for the company. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.18.

CG Oncology Stock Performance

Shares of CGON stock opened at $75.10 on Friday. The firm has a market capitalization of $6.66 billion, a P/E ratio of -27.92 and a beta of 0.23. CG Oncology has a 1 year low of $23.65 and a 1 year high of $77.00. The firm’s fifty day simple moving average is $67.12 and its 200 day simple moving average is $64.02.

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

Insider Buying and Selling

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

Institutional Trading of CG Oncology

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in CG Oncology in the second quarter valued at $444,509,000. Deutsche Bank AG bought a new position in shares of CG Oncology during the second quarter valued at $14,033,000. TimesSquare Capital Management LLC acquired a new stake in shares of CG Oncology in the 2nd quarter valued at $14,983,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of CG Oncology in the 2nd quarter valued at $412,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of CG Oncology in the 2nd quarter worth about $16,584,000. Institutional investors and hedge funds own 26.56% of the company’s stock.

Key Headlines Impacting CG Oncology

Here are the key news stories impacting CG Oncology this week:

• Positive Sentiment: Analysts raised price targets: Piper Sandler increased its target from $82 to $85 and assigned an “overweight” rating, implying approximately 13.2% upside. Benzinga
• Positive Sentiment: Truist Financial also raised its target from $82 to $85 and upgraded its view to “buy,” citing a more constructive outlook for CG Oncology. The Fly
• Positive Sentiment: HC Wainwright maintained a “buy” rating and a $100 target. The firm modestly increased its long-term FY2030 EPS forecast to $6.88 from $6.77, reinforcing expectations for significant future earnings growth as the company advances its pipeline. MarketBeat
• Positive Sentiment: CG Oncology reported second-quarter revenue of $1.16 million, substantially above the $0.36 million consensus estimate, while also highlighting pipeline and business progress. CG Oncology Second-Quarter Results
• Neutral Sentiment: Royal Bank of Canada lowered its target from $81 to $79 but retained an “outperform” rating. The reduced target still represents roughly 5.2% potential upside and may reflect valuation calibration rather than a fundamental downgrade. Ticker Report
• Negative Sentiment: CG Oncology reported a quarterly loss of $0.90 per share, wider than the $0.66 consensus loss and the $0.54 loss recorded a year earlier. The earnings shortfall could limit gains despite strong analyst targets. Zacks Q2 Earnings Report
• Negative Sentiment: HC Wainwright reduced its FY2029 EPS estimate from $2.43 to $2.34, signaling some moderation in its intermediate-term earnings outlook, although its buy rating and $100 target remain unchanged.

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.