CG Oncology (NASDAQ:CGON) Sets New 12-Month High – Time to Buy?

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

Analyst Ratings Changes

Several analysts have recently weighed in on CGON shares. Truist Financial lifted their price target on shares of CG Oncology from $66.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Wedbush initiated coverage on CG Oncology in a report on Thursday, December 11th. They set an “outperform” rating and a $70.00 price objective on the stock. Piper Sandler upped their target price on CG Oncology from $55.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. Royal Bank Of Canada increased their price target on CG Oncology from $61.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. Finally, The Goldman Sachs Group restated a “buy” rating and set a $82.00 price target 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 given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $69.00.

CG Oncology Price Performance

The company has a market cap of $5.11 billion, a PE ratio of -29.25 and a beta of 1.18. The business has a fifty day simple moving average of $51.19 and a two-hundred day simple moving average of $42.78.

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

Insider Transactions at CG Oncology

In other CG Oncology news, Director James Mulay sold 11,145 shares of the business’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $52.47, for a total value of $584,778.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. purchased a new stake in CG Oncology during the fourth quarter valued at approximately $27,000. Strengthening Families & Communities LLC acquired a new position in shares of CG Oncology during the third quarter worth $40,000. Comerica Bank lifted its holdings in shares of CG Oncology by 100.4% during the 4th quarter. Comerica Bank now owns 1,028 shares of the company’s stock valued at $43,000 after purchasing an additional 515 shares during the last quarter. Winthrop Capital Management LLC purchased a new stake in shares of CG Oncology during the 2nd quarter valued at $38,000. Finally, Picton Mahoney Asset Management acquired a new stake in shares of CG Oncology in the 4th quarter worth $118,000. 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.