CG Oncology (NASDAQ:CGON) Hits New 12-Month High – Here’s Why

Shares of CG Oncology, Inc. (NASDAQ:CGON) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $57.92 and last traded at $57.59, with a volume of 258990 shares changing hands. The stock had previously closed at $56.42.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CGON shares. Weiss Ratings restated a “sell (d-)” rating on shares of CG Oncology in a report on Wednesday, January 21st. Morgan Stanley set a $93.00 target price on shares of CG Oncology in a research report on Friday, January 9th. 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 report on Tuesday, February 10th. Wedbush assumed coverage on shares of CG Oncology in a research report on Thursday, December 11th. They issued an “outperform” rating and a $70.00 price objective for the company. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $82.00 target price on shares of CG Oncology in a research note on Monday, January 12th. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, CG Oncology has an average rating of “Moderate Buy” and a consensus price target of $68.58.

CG Oncology Stock Performance

The stock has a fifty day simple moving average of $48.16 and a two-hundred day simple moving average of $40.73. The stock has a market cap of $4.65 billion, a PE ratio of -28.25 and a beta of 1.32.

Insiders Place Their Bets

In related news, Director James Mulay sold 11,145 shares of the firm’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $52.47, for a total transaction of $584,778.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 7.40% of the company’s stock.

Institutional Trading of CG Oncology

Several large investors have recently modified their holdings of CGON. Whittier Trust Co. of Nevada Inc. purchased a new position in CG Oncology in the fourth quarter valued at about $27,000. Winthrop Capital Management LLC acquired a new position in shares of CG Oncology in the 2nd quarter valued at approximately $38,000. Strengthening Families & Communities LLC purchased a new position in shares of CG Oncology during the 3rd quarter valued at approximately $40,000. Comerica Bank grew its position in shares of 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 in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of CG Oncology by 15.2% in the second quarter. PNC Financial Services Group Inc. now owns 3,279 shares of the company’s stock worth $85,000 after buying an additional 433 shares during the last quarter. 26.56% of the stock is currently owned by institutional investors and hedge funds.

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.