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

Shares of CG Oncology, Inc. (NASDAQ:CGON) have received an average recommendation of “Moderate Buy” from the fourteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $69.00.

A number of analysts have commented on the company. Piper Sandler lifted their target price on CG Oncology from $55.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. Morgan Stanley set a $93.00 price objective on CG Oncology in a research report on Friday, January 9th. The Goldman Sachs Group reiterated a “buy” rating and issued a $82.00 price objective on shares of CG Oncology in a report on Monday, January 12th. Wedbush assumed coverage on shares of CG Oncology in a research note on Thursday, December 11th. They set an “outperform” rating and a $70.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CG Oncology in a report on Wednesday, January 21st.

Insiders Place Their Bets

In related news, Director James Mulay sold 11,145 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $52.47, for a total value of $584,778.15. The sale was disclosed in a legal filing with the SEC, which is available at this link. 7.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CG Oncology

Hedge funds and other institutional investors have recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of CG Oncology in the fourth quarter worth $27,000. Winthrop Capital Management LLC bought a new position in CG Oncology in the second quarter valued at about $38,000. Strengthening Families & Communities LLC purchased a new position in CG Oncology in the third quarter worth about $40,000. Comerica Bank grew its stake in shares of CG Oncology by 100.4% during the 4th 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. Finally, PNC Financial Services Group Inc. grew its stake in shares of CG Oncology by 15.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,279 shares of the company’s stock valued at $85,000 after purchasing an additional 433 shares during the period. 26.56% of the stock is owned by institutional investors.

CG Oncology Stock Performance

Shares of NASDAQ CGON opened at $61.57 on Friday. The firm’s 50 day moving average price is $51.60 and its 200-day moving average price is $42.92. CG Oncology has a 52-week low of $14.80 and a 52-week high of $63.58. The company has a market cap of $5.20 billion, a PE ratio of -29.74 and a beta of 1.18.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings data 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 during the quarter. On average, analysts forecast that CG Oncology will post -1.31 earnings per share for the current fiscal year.

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.