CG Oncology, Inc. (NASDAQ:CGON) Receives Consensus Recommendation of “Moderate Buy” from Analysts

CG Oncology, Inc. (NASDAQ:CGON) has earned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $60.5833.

Several brokerages have weighed in on CGON. Jones Trading started coverage on CG Oncology in a research note on Monday, September 8th. They set a “buy” rating and a $50.00 price objective on the stock. Morgan Stanley increased their target price on shares of CG Oncology from $56.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, September 17th. Truist Financial set a $62.00 price target on shares of CG Oncology in a research report on Monday, November 24th. Wedbush initiated coverage on shares of CG Oncology in a report on Thursday, December 11th. They set an “outperform” rating and a $70.00 price target on the stock. Finally, Wall Street Zen upgraded shares of CG Oncology from a “sell” rating to a “hold” rating in a research note on Friday, October 3rd.

CG Oncology Stock Performance

Shares of CGON opened at $39.03 on Monday. The stock has a 50 day moving average price of $41.76 and a two-hundred day moving average price of $33.79. The firm has a market capitalization of $3.15 billion, a P/E ratio of -19.13 and a beta of 1.29. CG Oncology has a 52 week low of $14.80 and a 52 week high of $46.01.

CG Oncology (NASDAQ:CGON) last posted its earnings results on Friday, November 14th. The company reported ($0.57) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.57). CG Oncology had a negative return on equity of 21.67% and a negative net margin of 15,945.17%.The company had revenue of $0.16 million for the quarter, compared to analyst estimates of $0.07 million. On average, equities analysts forecast that CG Oncology will post -1.31 earnings per share for the current year.

Insider Activity at CG Oncology

In related news, Director Leonard E. Post sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $40.09, for a total transaction of $200,450.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Mulay sold 12,755 shares of CG Oncology stock in a transaction on Monday, September 29th. The stock was sold at an average price of $39.19, for a total value of $499,868.45. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 24,658 shares of company stock valued at $1,001,421. 7.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CG Oncology

Institutional investors have recently added to or reduced their stakes in the stock. CIBC Bancorp USA Inc. purchased a new stake in CG Oncology during the third quarter worth about $240,000. Voleon Capital Management LP purchased a new position in CG Oncology in the third quarter valued at about $410,000. Verition Fund Management LLC purchased a new position in CG Oncology in the third quarter valued at about $221,000. Vestal Point Capital LP bought a new position in shares of CG Oncology during the 3rd quarter valued at approximately $7,049,000. Finally, Nantahala Capital Management LLC bought a new position in shares of CG Oncology during the 3rd quarter valued at approximately $4,409,000. 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.