HC Wainwright Forecasts Strong Price Appreciation for CG Oncology (NASDAQ:CGON) Stock

CG Oncology (NASDAQ:CGON) had its target price lifted by research analysts at HC Wainwright from $80.00 to $100.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 48.04% from the company’s current price.

CGON has been the subject of several other reports. Weiss Ratings restated a “sell (d-)” rating on shares of CG Oncology in a research note on Wednesday, January 21st. Royal Bank Of Canada upped their price target on CG Oncology from $61.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. The Goldman Sachs Group restated a “buy” rating and issued a $82.00 price target on shares of CG Oncology in a research note on Monday, January 12th. Piper Sandler boosted their target price on CG Oncology from $55.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Finally, Truist Financial boosted their target price on CG Oncology from $66.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $70.67.

CG Oncology Trading Up 0.1%

CG Oncology stock opened at $67.55 on Tuesday. The firm has a 50 day moving average of $59.44 and a 200 day moving average of $48.65. The firm has a market capitalization of $5.70 billion, a price-to-earnings ratio of -32.63 and a beta of 0.70. CG Oncology has a 12-month low of $14.80 and a 12-month high of $69.35.

CG Oncology (NASDAQ:CGON) last posted its quarterly earnings results on Friday, February 27th. The company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.61) by $0.10. The business had revenue of $2.32 million during the quarter. On average, analysts predict that CG Oncology will post -1.31 EPS for the current year.

Insider Buying and Selling at CG Oncology

In related news, Director James Mulay sold 11,145 shares of the firm’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $52.47, for a total value of $584,778.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Candriam S.C.A. lifted its position in CG Oncology by 35.9% in the third quarter. Candriam S.C.A. now owns 1,037,892 shares of the company’s stock worth $41,806,000 after buying an additional 274,312 shares during the last quarter. JPMorgan Chase & Co. lifted its position in CG Oncology by 321.3% in the third quarter. JPMorgan Chase & Co. now owns 227,879 shares of the company’s stock worth $9,179,000 after buying an additional 173,785 shares during the last quarter. Vanguard Group Inc. lifted its position in CG Oncology by 11.4% in the third quarter. Vanguard Group Inc. now owns 6,577,281 shares of the company’s stock worth $264,933,000 after buying an additional 670,770 shares during the last quarter. Voya Investment Management LLC lifted its position in CG Oncology by 217.6% in the third quarter. Voya Investment Management LLC now owns 47,986 shares of the company’s stock worth $1,933,000 after buying an additional 32,877 shares during the last quarter. Finally, Mangrove Partners IM LLC lifted its position in CG Oncology by 21.0% in the third quarter. Mangrove Partners IM LLC now owns 671,692 shares of the company’s stock worth $27,056,000 after buying an additional 116,575 shares during the last quarter. 26.56% of the stock is owned by hedge funds and other institutional investors.

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.