Royal Bank Of Canada Issues Positive Forecast for CG Oncology (NASDAQ:CGON) Stock Price

CG Oncology (NASDAQ:CGON) had its price target increased by equities research analysts at Royal Bank Of Canada from $79.00 to $81.00 in a report released on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target points to a potential upside of 15.26% from the company’s current price.

CGON has been the subject of several other research reports. HC Wainwright boosted their price objective on CG Oncology from $80.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, April 7th. JPMorgan Chase & Co. boosted their price objective on CG Oncology from $65.00 to $91.00 and gave the company an “overweight” rating in a report on Friday, April 17th. Piper Sandler upped their price target on CG Oncology from $55.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. Wall Street Zen downgraded CG Oncology from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Finally, Truist Financial reiterated a “buy” rating and set a $77.00 price target (up from $75.00) on shares of CG Oncology in a report on Monday. Eleven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $80.82.

CG Oncology Price Performance

Shares of CG Oncology stock traded up $0.66 during midday trading on Monday, reaching $70.28. The company had a trading volume of 122,870 shares, compared to its average volume of 1,223,371. CG Oncology has a fifty-two week low of $23.32 and a fifty-two week high of $73.56. The stock has a fifty day moving average price of $65.66 and a 200 day moving average price of $52.87. The firm has a market cap of $6.18 billion, a PE ratio of -30.26 and a beta of 0.41.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings results on Friday, May 8th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.13). The business had revenue of $1.08 million during the quarter, compared to analysts’ expectations of $0.45 million. As a group, sell-side analysts forecast that CG Oncology will post -2.56 EPS for the current year.

Insider Transactions at CG Oncology

In other news, Director James Mulay sold 15,600 shares of the company’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $73.01, for a total transaction of $1,138,956.00. Following the transaction, the director owned 15,600 shares of the company’s stock, valued at $1,138,956. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 4.80% of the stock is owned by company insiders.

Institutional Trading of CG Oncology

A number of institutional investors have recently added to or reduced their stakes in CGON. Wellington Management Group LLP lifted its holdings in CG Oncology by 190.3% during the 3rd quarter. Wellington Management Group LLP now owns 5,512,779 shares of the company’s stock worth $222,055,000 after purchasing an additional 3,613,885 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of CG Oncology by 116.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,443,144 shares of the company’s stock valued at $142,961,000 after acquiring an additional 1,854,386 shares in the last quarter. Seven Fleet Capital Management LP purchased a new stake in shares of CG Oncology in the 4th quarter valued at about $62,909,000. Bank of America Corp DE raised its holdings in shares of CG Oncology by 409.9% in the 2nd quarter. Bank of America Corp DE now owns 1,736,769 shares of the company’s stock valued at $45,156,000 after acquiring an additional 1,396,170 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of CG Oncology by 46.4% in the 4th quarter. State Street Corp now owns 2,996,695 shares of the company’s stock valued at $124,423,000 after acquiring an additional 950,028 shares in the last quarter. 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.