CG Oncology, Inc. (NASDAQ:CGON) Receives Average Recommendation of “Moderate Buy” from Brokerages

CG Oncology, Inc. (NASDAQ:CGON) has earned a consensus rating of “Moderate Buy” from the fourteen brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $81.7273.

A number of analysts recently commented on CGON shares. Wedbush upped their price objective on CG Oncology from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Wolfe Research began coverage on CG Oncology in a report on Tuesday, May 19th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. boosted their price target on CG Oncology from $91.00 to $96.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Truist Financial reissued a “buy” rating and set a $82.00 price target (up from $77.00) on shares of CG Oncology in a report on Thursday, May 14th. Finally, Wall Street Zen lowered CG Oncology from a “hold” rating to a “sell” rating in a report on Saturday, April 25th.

CG Oncology Stock Performance

CG Oncology stock opened at $53.72 on Monday. The stock has a market cap of $4.74 billion, a PE ratio of -23.06 and a beta of 0.31. CG Oncology has a one year low of $23.65 and a one year high of $75.50. The stock has a fifty day moving average of $65.98 and a 200 day moving average of $56.13.

CG Oncology (NASDAQ:CGON) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.13). The company had revenue of $1.08 million during the quarter, compared to the consensus estimate of $0.45 million. As a group, sell-side analysts predict that CG Oncology will post -2.89 EPS for the current fiscal year.

Insider Activity

In other CG Oncology news, Director James Mulay sold 15,600 shares of the business’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $73.01, for a total transaction of $1,138,956.00. Following the completion of the sale, the director owned 15,600 shares of the company’s stock, valued at approximately $1,138,956. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Leonard E. Post sold 1,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $54.50, for a total value of $54,500.00. Following the sale, the director directly owned 1,000 shares of the company’s stock, valued at $54,500. This represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 18,564 shares of company stock valued at $1,318,170 in the last three months. 4.80% of the stock is currently owned by corporate insiders.

Institutional Trading of CG Oncology

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in CG Oncology by 11.4% during the third quarter. Vanguard Group Inc. now owns 6,577,281 shares of the company’s stock valued at $264,933,000 after purchasing an additional 670,770 shares during the period. Wellington Management Group LLP boosted its stake in shares of CG Oncology by 8.8% in the fourth quarter. Wellington Management Group LLP now owns 5,999,790 shares of the company’s stock worth $249,111,000 after acquiring an additional 487,011 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of CG Oncology by 116.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,443,144 shares of the company’s stock worth $142,961,000 after acquiring an additional 1,854,386 shares during the period. State Street Corp boosted its stake in shares of CG Oncology by 46.4% in the fourth quarter. State Street Corp now owns 2,996,695 shares of the company’s stock worth $124,423,000 after acquiring an additional 950,028 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in shares of CG Oncology by 15.0% in the second quarter. Alliancebernstein L.P. now owns 2,164,214 shares of the company’s stock worth $56,270,000 after acquiring an additional 281,637 shares during the period. 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.