CG Oncology (NASDAQ:CGON) Given “Buy” Rating at HC Wainwright

CG Oncology (NASDAQ:CGON)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They currently have a $100.00 price objective on the stock. HC Wainwright’s price objective would suggest a potential upside of 49.41% from the company’s previous close.

CGON has been the subject of a number of other reports. JPMorgan Chase & Co. lifted their target price on CG Oncology from $91.00 to $96.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Wall Street Zen downgraded shares of CG Oncology from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. Wedbush boosted their target price on CG Oncology from $77.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Truist Financial reiterated a “buy” rating and issued a $82.00 price target (up from $77.00) on shares of CG Oncology in a research report on Thursday. Finally, Royal Bank Of Canada upped their price objective on CG Oncology from $79.00 to $81.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Eleven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $81.73.

CG Oncology Price Performance

NASDAQ CGON opened at $66.93 on Monday. The firm’s 50-day moving average is $67.06 and its two-hundred day moving average is $54.02. CG Oncology has a 12 month low of $23.65 and a 12 month high of $75.50. The stock has a market capitalization of $5.90 billion, a P/E ratio of -28.73 and a beta of 0.41.

CG Oncology (NASDAQ:CGON) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.13). The firm had revenue of $1.08 million for the quarter, compared to analyst estimates of $0.45 million. As a group, analysts anticipate that CG Oncology will post -2.89 EPS for the current year.

Insiders Place Their Bets

In other CG Oncology news, Director James Mulay sold 15,600 shares of the firm’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $73.01, for a total transaction of $1,138,956.00. Following the completion of the transaction, the director directly owned 15,600 shares in the company, valued at approximately $1,138,956. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.80% of the stock is owned by insiders.

Institutional Investors Weigh In On CG Oncology

A number of hedge funds and other institutional investors have recently made changes to their positions in CGON. Wellington Management Group LLP grew its holdings in CG Oncology by 190.3% in the third quarter. Wellington Management Group LLP now owns 5,512,779 shares of the company’s stock valued at $222,055,000 after purchasing an additional 3,613,885 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in CG Oncology by 116.7% during 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 during the last quarter. Seven Fleet Capital Management LP bought a new position in CG Oncology during the 4th quarter valued at $62,909,000. Bank of America Corp DE boosted its stake in CG Oncology by 409.9% during 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 during the last quarter. Finally, State Street Corp boosted its stake in CG Oncology by 46.4% during 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 during 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.