Brokerages Set CG Oncology, Inc. (NASDAQ:CGON) Price Target at $81.73

CG Oncology, Inc. (NASDAQ:CGON) has received an average rating of “Moderate Buy” from the fourteen brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $81.7273.

A number of analysts recently issued reports on the company. Wedbush raised their price target on CG Oncology from $77.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Wolfe Research initiated coverage on shares of CG Oncology in a research note on Tuesday, May 19th. They issued a “peer perform” rating on the stock. Truist Financial reissued a “buy” rating and issued a $82.00 target price (up from $77.00) on shares of CG Oncology in a research note on Thursday, May 14th. Wall Street Zen lowered shares of CG Oncology from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Finally, JPMorgan Chase & Co. lifted their price target on shares of CG Oncology from $91.00 to $96.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th.

CG Oncology Price Performance

Shares of CGON stock opened at $71.19 on Tuesday. The company has a market cap of $6.28 billion, a PE ratio of -30.55 and a beta of 0.22. CG Oncology has a 1 year low of $23.65 and a 1 year high of $77.00. The stock’s 50 day simple moving average is $66.06 and its two-hundred day simple moving average is $63.30.

CG Oncology (NASDAQ:CGON) last announced its earnings results on Friday, May 8th. The company reported ($0.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.13). The firm had revenue of $1.08 million during the quarter, compared to analysts’ expectations of $0.45 million. Equities research analysts expect that CG Oncology will post -2.89 EPS for the current year.

Insiders Place Their Bets

In other news, Director James Mulay sold 24,165 shares of the stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $75.16, for a total value of $1,816,241.40. Following the sale, the director directly owned 24,165 shares in the company, valued at approximately $1,816,241.40. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Brian Guan-Chyun Liu purchased 371,085 shares of CG Oncology stock in a transaction dated Thursday, June 25th. The stock was acquired at an average price of $66.87 per share, for a total transaction of $24,814,453.95. Following the completion of the acquisition, the director owned 1,886,236 shares of the company’s stock, valued at approximately $126,132,601.32. This trade represents a 24.49% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold a total of 37,129 shares of company stock valued at $2,663,817 over the last 90 days. Insiders own 4.80% of the company’s stock.

Institutional Trading of CG Oncology

Hedge funds and other institutional investors have recently bought and sold shares of the business. NFSG Corp bought a new stake in shares of CG Oncology during the first quarter worth $34,000. Comerica Bank grew its holdings in shares of CG Oncology by 100.4% in the fourth quarter. Comerica Bank now owns 1,028 shares of the company’s stock worth $43,000 after purchasing an additional 515 shares during the last quarter. LPL Financial LLC increased its stake in CG Oncology by 9.8% in the 4th quarter. LPL Financial LLC now owns 6,201 shares of the company’s stock worth $257,000 after buying an additional 551 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new position in CG Oncology in the 4th quarter worth about $27,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in CG Oncology by 33.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,920 shares of the company’s stock worth $163,000 after buying an additional 972 shares during the period. Hedge funds and other institutional investors 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.