CG Oncology (NASDAQ:CGON) Hits New 1-Year High – Here’s Why

Shares of CG Oncology, Inc. (NASDAQ:CGON) reached a new 52-week high during trading on Wednesday . The company traded as high as $57.62 and last traded at $57.6050, with a volume of 287964 shares traded. The stock had previously closed at $54.69.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Royal Bank Of Canada increased their price target on CG Oncology from $61.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday. Piper Sandler increased their price objective 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. Truist Financial boosted their target price on CG Oncology from $62.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, January 9th. Wall Street Zen upgraded CG Oncology from a “sell” rating to a “hold” rating in a research report on Friday, October 3rd. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $82.00 price objective on shares of CG Oncology in a research report on Monday, January 12th. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, CG Oncology presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.83.

CG Oncology Stock Up 2.1%

The business has a 50-day simple moving average of $43.43 and a 200-day simple moving average of $36.78. The company has a market cap of $4.50 billion, a PE ratio of -27.43 and a beta of 1.35.

CG Oncology (NASDAQ:CGON) last posted its quarterly earnings data on Friday, November 14th. The company reported ($0.57) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.57). The firm had revenue of $0.16 million during the quarter, compared to analysts’ expectations of $0.07 million. As a group, equities research analysts predict that CG Oncology, Inc. will post -1.31 EPS for the current fiscal year.

Insider Activity at CG Oncology

In related news, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $41.43, for a total value of $41,430.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Mulay sold 11,145 shares of the company’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $52.47, for a total transaction of $584,778.15. The disclosure for this sale is available in the SEC filing.

Hedge Funds Weigh In On CG Oncology

A number of institutional investors and hedge funds have recently modified their holdings of the company. Winthrop Capital Management LLC purchased a new stake in CG Oncology during the 2nd quarter worth about $38,000. Strengthening Families & Communities LLC purchased a new position in shares of CG Oncology in the 3rd quarter valued at about $40,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of CG Oncology by 15.6% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,945 shares of the company’s stock worth $77,000 after acquiring an additional 398 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in CG Oncology by 15.2% in the second quarter. PNC Financial Services Group Inc. now owns 3,279 shares of the company’s stock valued at $85,000 after purchasing an additional 433 shares in the last quarter. Finally, CWM LLC boosted its holdings in 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 purchasing an additional 4,083 shares in the last quarter. Institutional investors and hedge funds 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.