CG Oncology (NASDAQ:CGON) Price Target Raised to $80.00

CG Oncology (NASDAQ:CGON) had its price objective upped by HC Wainwright from $75.00 to $80.00 in a report issued on Friday,Benzinga reports. They currently have a buy rating on the stock.

CGON has been the subject of several other reports. Truist Financial upped their target price on CG Oncology from $66.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of CG Oncology in a report on Wednesday, January 21st. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $82.00 price objective on shares of CG Oncology in a research note on Monday, January 12th. Piper Sandler lifted their target price on CG Oncology from $55.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, January 16th. Finally, Royal Bank Of Canada increased their target price on shares of CG Oncology from $61.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $69.00.

CG Oncology Stock Up 4.8%

Shares of CG Oncology stock opened at $58.80 on Friday. The firm’s 50-day moving average price is $50.42 and its two-hundred day moving average price is $42.32. The company has a market capitalization of $4.74 billion, a price-to-earnings ratio of -28.41 and a beta of 1.17. CG Oncology has a 12-month low of $14.80 and a 12-month high of $60.00.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings results on Friday, February 27th. The company reported ($0.51) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.10. The firm had revenue of $2.32 million for the quarter. On average, sell-side analysts expect that CG Oncology will post -1.31 earnings per share for the current year.

Insider Buying and Selling

In other news, Director James Mulay sold 11,145 shares of CG Oncology stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $52.47, for a total transaction of $584,778.15. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC bought a new stake in CG Oncology during the 1st quarter worth approximately $475,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of CG Oncology by 18.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,522 shares of the company’s stock worth $876,000 after purchasing an additional 5,442 shares during the period. Millennium Management LLC grew its stake in shares of CG Oncology by 139.4% in the first quarter. Millennium Management LLC now owns 596,056 shares of the company’s stock worth $14,597,000 after purchasing an additional 347,055 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in CG Oncology by 42.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 179,363 shares of the company’s stock valued at $4,393,000 after purchasing an additional 53,461 shares during the period. Finally, CWM LLC lifted its holdings in CG Oncology by 193.5% during the 2nd quarter. CWM LLC now owns 6,193 shares of the company’s stock worth $161,000 after buying an additional 4,083 shares during the period. 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.