CG Oncology (NASDAQ:CGON) Reaches New 12-Month High – Should You Buy?

CG Oncology, Inc. (NASDAQ:CGON)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $63.89 and last traded at $62.6150, with a volume of 601012 shares traded. The stock had previously closed at $61.29.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. 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 on the stock. Royal Bank Of Canada raised their target price on shares of CG Oncology from $61.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. Morgan Stanley set a $93.00 price objective on CG Oncology in a research note on Friday, January 9th. Weiss Ratings restated a “sell (d-)” rating on shares of CG Oncology in a research report on Wednesday, January 21st. Finally, HC Wainwright upped their price target on shares of CG Oncology from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $69.00.

CG Oncology Stock Performance

The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of -30.02 and a beta of 1.17. The firm’s 50 day simple moving average is $52.87 and its 200 day simple moving average is $43.78.

CG Oncology (NASDAQ:CGON) last posted its quarterly earnings data on Friday, February 27th. The company reported ($0.51) EPS for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.10. The business had revenue of $2.32 million during the quarter. As a group, sell-side analysts forecast that CG Oncology, Inc. will post -1.31 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director James Mulay sold 11,145 shares of the stock in a transaction on Friday, January 9th. The stock was sold at an average price of $52.47, for a total transaction of $584,778.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Investors Weigh In On CG Oncology

Institutional investors and hedge funds have recently modified their holdings of the company. Seven Fleet Capital Management LP purchased a new stake in shares of CG Oncology during the fourth quarter worth $62,909,000. T. Rowe Price Investment Management Inc. purchased a new stake in shares of CG Oncology during the 4th quarter worth $17,547,000. Invesco Ltd. grew its holdings in shares of CG Oncology by 10.9% in the 4th quarter. Invesco Ltd. now owns 38,140 shares of the company’s stock worth $1,584,000 after acquiring an additional 3,761 shares during the period. ADAR1 Capital Management LLC raised its position in CG Oncology by 3.7% during the fourth quarter. ADAR1 Capital Management LLC now owns 258,139 shares of the company’s stock worth $10,718,000 after acquiring an additional 9,222 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in CG Oncology in the 4th quarter valued at approximately $1,400,000. 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.