CG Oncology (NASDAQ:CGON) Sets New 12-Month High – What’s Next?

CG Oncology, Inc. (NASDAQ:CGON)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $60.00 and last traded at $56.99, with a volume of 537550 shares trading hands. The stock had previously closed at $58.34.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CGON shares. Piper Sandler boosted 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. Wedbush began coverage on CG Oncology in a research report on Thursday, December 11th. They set an “outperform” rating and a $70.00 price objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of CG Oncology in a research note on Wednesday, January 21st. Truist Financial upped their target price on shares of CG Oncology from $66.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. Finally, Morgan Stanley set a $93.00 price target on shares of CG Oncology in a report on Friday, January 9th. Eleven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, CG Oncology currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.58.

CG Oncology Trading Down 2.3%

The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of -27.94 and a beta of 1.32. The business has a 50 day simple moving average of $49.67 and a 200-day simple moving average of $41.74.

Insider Activity

In related news, Director James Mulay sold 11,145 shares of the business’s 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On CG Oncology

Hedge funds have recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of CG Oncology during the 4th quarter valued at $27,000. Winthrop Capital Management LLC acquired a new position in CG Oncology in the second quarter valued at $38,000. Strengthening Families & Communities LLC acquired a new position in CG Oncology in the third quarter valued at $40,000. Comerica Bank grew its position in CG Oncology by 100.4% during the fourth quarter. Comerica Bank now owns 1,028 shares of the company’s stock valued at $43,000 after acquiring an additional 515 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in CG Oncology by 15.2% during the second quarter. PNC Financial Services Group Inc. now owns 3,279 shares of the company’s stock worth $85,000 after acquiring an additional 433 shares during the last quarter. Institutional investors and hedge funds 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.