Wall Street Zen Downgrades CG Oncology (NASDAQ:CGON) to Sell

CG Oncology (NASDAQ:CGON) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

A number of other equities research analysts have also recently commented on the company. Morgan Stanley set a $93.00 target price on CG Oncology in a research report on Friday, January 9th. The Goldman Sachs Group reissued a “buy” rating and set a $82.00 price objective on shares of CG Oncology in a research note on Monday, January 12th. Wedbush initiated coverage on CG Oncology in a report on Thursday, December 11th. They set an “outperform” rating and a $70.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of CG Oncology in a research note on Wednesday, January 21st. Finally, Royal Bank Of Canada raised 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. 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $69.00.

CG Oncology Price Performance

CGON opened at $64.62 on Friday. The firm has a fifty day moving average price of $58.01 and a 200 day moving average price of $47.33. CG Oncology has a 1 year low of $14.80 and a 1 year high of $69.35. The stock has a market cap of $5.46 billion, a P/E ratio of -31.22 and a beta of 1.17.

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

Insider Activity at CG Oncology

In related news, Director James Mulay sold 11,145 shares of CG Oncology stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Hedge Funds Weigh In On CG Oncology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of CG Oncology in the fourth quarter worth $27,000. Strengthening Families & Communities LLC acquired a new stake in shares of CG Oncology in the third quarter valued at $40,000. Comerica Bank boosted its holdings in CG Oncology by 100.4% in the fourth 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 period. PNC Financial Services Group Inc. boosted its holdings in CG Oncology by 15.2% in the second quarter. PNC Financial Services Group Inc. now owns 3,279 shares of the company’s stock valued at $85,000 after purchasing an additional 433 shares during the period. Finally, Picton Mahoney Asset Management acquired a new position in CG Oncology during 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.