CG Oncology (NASDAQ:CGON) Stock Rating Lowered by Wall Street Zen

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

A number of other research firms have also recently commented on CGON. Morgan Stanley set a $93.00 price objective on shares of CG Oncology in a research report on Friday, January 9th. Wedbush started coverage on shares of CG Oncology in a research report on Thursday, December 11th. They issued an “outperform” rating and a $70.00 price objective on the stock. Truist Financial raised their target price on shares of CG Oncology from $66.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Royal Bank Of Canada lifted 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. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of CG Oncology in a research note on Wednesday, January 21st. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, CG Oncology currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.00.

CG Oncology Stock Down 3.1%

CGON opened at $64.62 on Friday. CG Oncology has a 12-month low of $14.80 and a 12-month high of $69.35. The business has a 50 day moving average of $58.01 and a 200-day moving average of $47.14. The stock has a market cap of $5.46 billion, a price-to-earnings ratio of -31.22 and a beta of 1.18.

CG Oncology (NASDAQ:CGON) last posted its 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 business had revenue of $2.32 million for the quarter. As a group, analysts expect that CG Oncology will post -1.31 earnings per share for the current year.

Insiders Place Their Bets

In other CG Oncology news, Director James Mulay sold 11,145 shares of the stock in a transaction on Friday, January 9th. The stock was sold at an average price of $52.47, for a total transaction of $584,778.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 7.40% of the stock is owned by insiders.

Institutional Investors Weigh In On CG Oncology

Institutional investors have recently modified their holdings of the business. Seven Fleet Capital Management LP acquired a new position in shares of CG Oncology in the fourth quarter valued at about $62,909,000. T. Rowe Price Investment Management Inc. acquired a new stake in CG Oncology in the 4th quarter worth about $17,547,000. Invesco Ltd. boosted its holdings in CG Oncology by 10.9% in the 4th quarter. Invesco Ltd. now owns 38,140 shares of the company’s stock valued at $1,584,000 after purchasing an additional 3,761 shares during the period. ADAR1 Capital Management LLC boosted its holdings in CG Oncology by 3.7% in the 4th quarter. ADAR1 Capital Management LLC now owns 258,139 shares of the company’s stock valued at $10,718,000 after purchasing an additional 9,222 shares during the period. Finally, XTX Topco Ltd acquired a new position in shares of CG Oncology during the 4th quarter worth approximately $1,400,000. Institutional investors own 26.56% of the company’s stock.

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.