Truist Financial Forecasts Strong Price Appreciation for CG Oncology (NASDAQ:CGON) Stock

CG Oncology (NASDAQ:CGON) had its target price raised by stock analysts at Truist Financial from $66.00 to $75.00 in a research report issued to clients and investors on Tuesday, Marketbeat reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price would suggest a potential upside of 40.06% from the stock’s current price.

Several other brokerages have also recently weighed in on CGON. Royal Bank Of Canada raised their price objective on CG Oncology from $61.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. Wedbush assumed coverage on CG Oncology in a report on Thursday, December 11th. They issued an “outperform” rating and a $70.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of CG Oncology in a research note on Wednesday, January 21st. The Goldman Sachs Group reissued a “buy” rating and set a $82.00 price target on shares of CG Oncology in a research report on Monday, January 12th. Finally, Morgan Stanley set a $93.00 target price on CG Oncology in a research note on Friday, January 9th. Eleven 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.58.

CG Oncology Stock Up 0.9%

Shares of CG Oncology stock opened at $53.55 on Tuesday. The stock has a market cap of $4.32 billion, a PE ratio of -26.25 and a beta of 1.32. The business has a fifty day simple moving average of $46.87 and a 200 day simple moving average of $39.70. CG Oncology has a 12 month low of $14.80 and a 12 month high of $57.88.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings results on Friday, November 14th. The company reported ($0.57) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.57). The business had revenue of $0.16 million during the quarter, compared to the consensus estimate of $0.07 million. Analysts expect that CG Oncology will post -1.31 EPS for the current fiscal year.

Insider Activity at CG Oncology

In other news, Director Leonard E. Post sold 1,000 shares of the firm’s 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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. 7.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CGON. Whittier Trust Co. of Nevada Inc. bought a new stake in CG Oncology during the 4th quarter worth $27,000. Winthrop Capital Management LLC acquired a new stake in CG Oncology during the 2nd quarter worth approximately $38,000. Strengthening Families & Communities LLC bought a new stake in CG Oncology during the 3rd quarter worth approximately $40,000. Comerica Bank increased its position in CG Oncology by 100.4% in the 4th quarter. Comerica Bank now owns 1,028 shares of the company’s stock valued at $43,000 after acquiring an additional 515 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in shares of CG Oncology by 15.2% during the second quarter. PNC Financial Services Group Inc. now owns 3,279 shares of the company’s stock valued at $85,000 after acquiring an additional 433 shares during the last quarter. 26.56% of the stock is currently owned by institutional investors and hedge funds.

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.