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

CG Oncology, Inc. (NASDAQ:CGON) has been given a consensus recommendation of “Moderate Buy” by the fourteen research firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $81.7273.

Several research firms recently issued reports on CGON. Wolfe Research initiated coverage on shares of CG Oncology in a research report on Tuesday, May 19th. They set a “peer perform” rating for the company. Royal Bank Of Canada increased their price target on shares of CG Oncology from $79.00 to $81.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. HC Wainwright restated a “buy” rating and set a $100.00 price target on shares of CG Oncology in a report on Monday, May 18th. JPMorgan Chase & Co. raised their price target on shares of CG Oncology from $91.00 to $96.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Finally, Wedbush lifted their price target on shares of CG Oncology from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, May 11th.

CG Oncology Stock Down 0.7%

Shares of CGON opened at $70.36 on Friday. CG Oncology has a 52-week low of $23.65 and a 52-week high of $77.00. The company has a market capitalization of $6.21 billion, a PE ratio of -30.20 and a beta of 0.21. The stock has a fifty day simple moving average of $64.48 and a two-hundred day simple moving average of $58.96.

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

Insider Buying and Selling

In other CG Oncology news, Director James Mulay sold 1,964 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $60.12, for a total value of $118,075.68. Following the transaction, the director owned 654 shares of the company’s stock, valued at $39,318.48. This represents a 75.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leonard E. Post sold 5,000 shares of CG Oncology stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $70.00, for a total transaction of $350,000.00. Following the sale, the director owned 5,000 shares of the company’s stock, valued at approximately $350,000. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 28,564 shares of company stock valued at $1,986,532. 4.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CG Oncology

Several institutional investors and hedge funds have recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. purchased a new position in CG Oncology during the 4th quarter valued at about $27,000. NFSG Corp acquired a new stake in shares of CG Oncology during the first quarter worth about $34,000. Comerica Bank boosted its stake in shares of CG Oncology by 100.4% in the fourth quarter. Comerica Bank now owns 1,028 shares of the company’s stock valued at $43,000 after purchasing an additional 515 shares during the period. Fifth Third Bancorp purchased a new position in shares of CG Oncology in the first quarter valued at approximately $74,000. Finally, KBC Group NV acquired a new position in shares of CG Oncology in the first quarter valued at approximately $78,000. Hedge funds and other 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.