CG Oncology (NASDAQ:CGON) Hits New 52-Week High – Should You Buy?

CG Oncology, Inc. (NASDAQ:CGON) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $77.49 and last traded at $76.9830, with a volume of 20157 shares. The stock had previously closed at $76.56.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CGON shares. Royal Bank Of Canada dropped their price target on shares of CG Oncology from $81.00 to $79.00 and set an “outperform” rating for the company in a research report on Friday. Wall Street Zen cut shares of CG Oncology from a “sell” rating to a “strong sell” rating in a research note on Saturday. HC Wainwright restated a “buy” rating and set a $100.00 price objective on shares of CG Oncology in a report on Wednesday, July 29th. JPMorgan Chase & Co. upped their price objective on CG Oncology from $91.00 to $96.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of CG Oncology in a report on Friday, July 17th. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, CG Oncology presently has an average rating of “Moderate Buy” and a consensus target price of $83.18.

CG Oncology Price Performance

The firm’s 50-day moving average price is $67.47 and its 200-day moving average price is $64.17. The company has a market cap of $6.75 billion, a price-to-earnings ratio of -28.30 and a beta of 0.23.

CG Oncology (NASDAQ:CGON) last posted its earnings results on Thursday, August 6th. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.24). The business had revenue of $1.16 million for the quarter, compared to analyst estimates of $0.36 million. CG Oncology had a negative net margin of 3,602.68% and a negative return on equity of 26.58%. On average, sell-side analysts anticipate that CG Oncology, Inc. will post -3.03 earnings per share for the current year.

Insider Buying and Selling at CG Oncology

In other CG Oncology news, Director Leonard E. Post sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $70.00, for a total value of $350,000.00. Following the transaction, the director directly owned 5,000 shares of the company’s stock, valued at $350,000. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James Mulay sold 24,165 shares of the business’s stock in a transaction dated 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 transaction, the director owned 24,165 shares in the company, valued at approximately $1,816,241.40. This represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 37,129 shares of company stock valued at $2,663,817 over the last three months. 4.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On CG Oncology

A number of institutional investors and hedge funds have recently bought and sold shares of CGON. E Fund Management Co. Ltd. acquired a new stake in CG Oncology in the second quarter valued at approximately $526,000. BlackRock Inc. acquired a new position in shares of CG Oncology during the second quarter worth $444,509,000. Deutsche Bank AG purchased a new position in shares of CG Oncology in the second quarter valued at $14,033,000. TimesSquare Capital Management LLC purchased a new position in shares of CG Oncology in the second quarter valued at $14,983,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in CG Oncology during the 2nd quarter valued at $412,000. Hedge funds and other institutional investors own 26.56% of the company’s stock.

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.