CG Oncology (NASDAQ:CGON) Hits New 1-Year High – Here’s What Happened

CG Oncology, Inc. (NASDAQ:CGON) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $60.69 and last traded at $60.55, with a volume of 1158462 shares. The stock had previously closed at $57.76.

Wall Street Analyst Weigh In

CGON has been the subject of a number of recent analyst reports. Wedbush began coverage on shares of CG Oncology in a report on Thursday, December 11th. They issued an “outperform” rating and a $70.00 price objective for the company. Royal Bank Of Canada lifted their price target on CG Oncology from $61.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. HC Wainwright upped their price target on CG Oncology from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Truist Financial raised their price objective on CG Oncology from $66.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $82.00 target price on shares of CG Oncology in a research note on Monday, January 12th. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.00.

CG Oncology Trading Down 1.9%

The business has a fifty day simple moving average of $52.00 and a two-hundred day simple moving average of $43.04. The company has a market cap of $5.10 billion, a PE ratio of -29.16 and a beta of 1.18.

CG Oncology (NASDAQ:CGON) last issued its earnings results on Friday, February 27th. The company reported ($0.51) EPS for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.10. The business had revenue of $2.32 million during the quarter. Equities analysts expect that CG Oncology, Inc. will post -1.31 EPS for the current year.

Insider Buying and Selling

In other CG Oncology 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On CG Oncology

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Candriam S.C.A. increased its stake in shares of CG Oncology by 35.9% in the 3rd quarter. Candriam S.C.A. now owns 1,037,892 shares of the company’s stock worth $41,806,000 after acquiring an additional 274,312 shares during the last quarter. Voya Investment Management LLC boosted its position in shares of CG Oncology by 217.6% during the 3rd quarter. Voya Investment Management LLC now owns 47,986 shares of the company’s stock valued at $1,933,000 after acquiring an additional 32,877 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of CG Oncology by 11.4% in 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. Tejara Capital Ltd purchased a new stake in shares of CG Oncology in the second quarter valued at about $944,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in CG Oncology during the second quarter worth about $676,000. Institutional investors and hedge funds 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.