CG Oncology (NASDAQ:CGON) Hits New 12-Month High After Analyst Upgrade

CG Oncology, Inc. (NASDAQ:CGON) shares reached a new 52-week high during trading on Saturday after JPMorgan Chase & Co. raised their price target on the stock from $65.00 to $91.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. CG Oncology traded as high as $73.56 and last traded at $73.43, with a volume of 1765238 shares changing hands. The stock had previously closed at $66.34.

Several other equities research analysts have also recently issued reports on the company. Piper Sandler raised their price objective on CG Oncology from $55.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. HC Wainwright raised their price objective on CG Oncology from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, April 7th. The Goldman Sachs Group restated a “buy” rating and issued a $82.00 price objective on shares of CG Oncology in a report on Monday, January 12th. Wall Street Zen upgraded CG Oncology from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Finally, Truist Financial raised their price objective on CG Oncology from $66.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. Eleven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, CG Oncology has a consensus rating of “Moderate Buy” and a consensus target price of $79.00.

Insider Activity at CG Oncology

In related news, Director James Mulay sold 1,964 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $63.50, for a total value of $124,714.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Hedge Funds Weigh In On CG Oncology

A number of hedge funds have recently modified their holdings of the stock. Comerica Bank increased its position in CG Oncology by 100.4% during the fourth quarter. Comerica Bank now owns 1,028 shares of the company’s stock worth $43,000 after buying an additional 515 shares during the last quarter. LPL Financial LLC boosted its holdings in CG Oncology by 9.8% during the fourth quarter. LPL Financial LLC now owns 6,201 shares of the company’s stock valued at $257,000 after acquiring an additional 551 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new stake in CG Oncology during the fourth quarter valued at about $27,000. CWM LLC boosted its holdings in CG Oncology by 10.9% during the third quarter. CWM LLC now owns 6,865 shares of the company’s stock valued at $277,000 after acquiring an additional 672 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in CG Oncology by 33.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,920 shares of the company’s stock valued at $163,000 after acquiring an additional 972 shares during the period. 26.56% of the stock is owned by institutional investors and hedge funds.

CG Oncology Price Performance

The company’s 50 day moving average is $62.33 and its two-hundred day moving average is $50.60. The firm has a market cap of $6.20 billion, a P/E ratio of -35.47 and a beta of 0.70.

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