CG Oncology (NASDAQ:CGON) Sets New 52-Week High – Time to Buy?

CG Oncology, Inc. (NASDAQ:CGON)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $49.54 and last traded at $48.36, with a volume of 627060 shares changing hands. The stock had previously closed at $41.93.

Wall Street Analysts Forecast Growth

CGON has been the topic of a number of research analyst reports. Truist Financial set a $62.00 price objective on shares of CG Oncology in a research note on Monday, November 24th. HC Wainwright restated a “buy” rating and issued a $75.00 target price on shares of CG Oncology in a research note on Monday, September 15th. Wall Street Zen raised shares of CG Oncology from a “sell” rating to a “hold” rating in a research report on Friday, October 3rd. Guggenheim initiated coverage on CG Oncology in a research note on Tuesday, October 7th. They issued a “buy” rating and a $90.00 price target for the company. Finally, JPMorgan Chase & Co. upped their price objective on CG Oncology from $41.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, September 26th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.42.

CG Oncology Trading Up 25.3%

The business’s 50-day moving average is $41.18 and its two-hundred day moving average is $35.09. The firm has a market cap of $4.24 billion, a P/E ratio of -25.74 and a beta of 1.35.

CG Oncology (NASDAQ:CGON) last posted its earnings results on Friday, November 14th. The company reported ($0.57) EPS for the quarter, meeting the consensus estimate of ($0.57). The company had revenue of $0.16 million for the quarter, compared to the consensus estimate of $0.07 million. On average, analysts anticipate that CG Oncology, Inc. will post -1.31 earnings per share for the current year.

Insider Buying and Selling

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $41.43, for a total value of $41,430.00. The sale was disclosed in a document filed with the SEC, which is available through this link. 7.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Wesbanco Bank Inc. bought a new position in CG Oncology during the 2nd quarter valued at $702,000. Voya Investment Management LLC raised its stake in shares of CG Oncology by 217.6% in the 3rd quarter. Voya Investment Management LLC now owns 47,986 shares of the company’s stock worth $1,933,000 after buying an additional 32,877 shares in the last quarter. CWM LLC lifted its holdings in shares of CG Oncology by 193.5% in the second quarter. CWM LLC now owns 6,193 shares of the company’s stock valued at $161,000 after buying an additional 4,083 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in CG Oncology during the second quarter valued at about $676,000. Finally, Franklin Resources Inc. boosted its stake in CG Oncology by 12.7% during the second quarter. Franklin Resources Inc. now owns 1,486,839 shares of the company’s stock valued at $38,658,000 after buying an additional 167,905 shares in the last quarter. Institutional investors own 26.56% of the company’s stock.

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.