CG Oncology (NASDAQ:CGON) Sets New 52-Week High – Should You Buy?

CG Oncology, Inc. (NASDAQ:CGON)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $57.62 and last traded at $57.6050, with a volume of 287964 shares. The stock had previously closed at $54.69.

Analysts Set New Price Targets

A number of brokerages have commented on CGON. Wedbush assumed coverage on CG Oncology in a research report on Thursday, December 11th. They issued an “outperform” rating and a $70.00 price target for the company. The Goldman Sachs Group reaffirmed a “buy” rating and set a $82.00 price target on shares of CG Oncology in a report on Monday, January 12th. JPMorgan Chase & Co. increased their price objective on shares of CG Oncology from $41.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, September 26th. Truist Financial raised their price objective on shares of CG Oncology from $62.00 to $66.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Finally, Royal Bank Of Canada upped 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. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, CG Oncology currently has an average rating of “Moderate Buy” and an average target price of $67.83.

CG Oncology Price Performance

The stock has a 50-day moving average price of $43.43 and a two-hundred day moving average price of $36.78. The stock has a market cap of $4.50 billion, a PE ratio of -27.43 and a beta of 1.35.

CG Oncology (NASDAQ:CGON) last posted its earnings results on Friday, November 14th. The company reported ($0.57) EPS for the quarter, hitting analysts’ consensus estimates of ($0.57). The firm had revenue of $0.16 million during the quarter, compared to analysts’ expectations of $0.07 million. Equities research analysts expect that CG Oncology, Inc. will post -1.31 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Leonard E. Post sold 1,000 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $41.43, for a total value of $41,430.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director James Mulay sold 11,145 shares of the firm’s 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 disclosure for this sale is available in the SEC filing.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. AQR Capital Management LLC bought a new position in shares of CG Oncology during the 1st quarter worth approximately $475,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in CG Oncology by 18.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,522 shares of the company’s stock valued at $876,000 after buying an additional 5,442 shares during the last quarter. Millennium Management LLC raised its stake in CG Oncology by 139.4% in the first quarter. Millennium Management LLC now owns 596,056 shares of the company’s stock valued at $14,597,000 after buying an additional 347,055 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted 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 worth $4,393,000 after acquiring an additional 53,461 shares in the last quarter. Finally, AMI Asset Management Corp purchased a new stake in shares of CG Oncology during the second quarter worth about $1,000,000. 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.