CG Oncology (NASDAQ:CGON) Reaches New 1-Year High Following Analyst Upgrade

CG Oncology, Inc. (NASDAQ:CGON)’s share price hit a new 52-week high during trading on Saturday after JPMorgan Chase & Co. raised their price target on the stock from $65.00 to $91.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. CG Oncology traded as high as $73.56 and last traded at $73.43, with a volume of 1765238 shares changing hands. The stock had previously closed at $66.34.

CGON has been the topic of a number of other reports. Piper Sandler boosted their price target on CG Oncology from $55.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, January 16th. Morgan Stanley set a $93.00 price target on CG Oncology in a report on Friday, January 9th. Wall Street Zen upgraded CG Oncology from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Royal Bank Of Canada upped their target price on CG Oncology from $61.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. Finally, HC Wainwright upped their target price on CG Oncology from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, April 7th. Eleven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $79.00.

Insider Transactions at CG Oncology

In related news, Director James Mulay sold 1,964 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $63.50, for a total transaction of $124,714.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 7.40% of the company’s stock.

Institutional Trading of CG Oncology

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Total Clarity Wealth Management Inc. bought a new stake in CG Oncology during the first quarter worth about $311,000. SG Americas Securities LLC raised its stake in CG Oncology by 17.6% in the first quarter. SG Americas Securities LLC now owns 24,632 shares of the company’s stock valued at $1,667,000 after buying an additional 3,683 shares during the period. Seven Fleet Capital Management LP bought a new stake in CG Oncology in the fourth quarter valued at approximately $62,909,000. T. Rowe Price Investment Management Inc. bought a new stake in CG Oncology in the fourth quarter valued at approximately $17,547,000. Finally, Invesco Ltd. raised its stake in CG Oncology by 10.9% in the fourth quarter. Invesco Ltd. now owns 38,140 shares of the company’s stock valued at $1,584,000 after buying an additional 3,761 shares during the period. Institutional investors own 26.56% of the company’s stock.

CG Oncology Stock Up 10.7%

The firm has a 50 day simple moving average of $62.33 and a 200-day simple moving average of $50.52. The stock has a market cap of $6.20 billion, a P/E ratio of -35.47 and a beta of 0.70.

CG Oncology (NASDAQ:CGON) last released its quarterly earnings data on Friday, February 27th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.10. The business had revenue of $2.32 million during the quarter. On average, equities analysts anticipate that CG Oncology, Inc. will post -1.31 earnings per share for the current year.

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.