Truist Financial Raises CG Oncology (NASDAQ:CGON) Price Target to $85.00

CG Oncology (NASDAQ:CGON) had its target price upped by research analysts at Truist Financial from $82.00 to $85.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target would suggest a potential upside of 13.36% from the company’s previous close.

Several other research firms also recently weighed in on CGON. JPMorgan Chase & Co. lifted their price target on shares of CG Oncology from $91.00 to $96.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Wall Street Zen lowered CG Oncology from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. Wolfe Research assumed coverage on CG Oncology in a report on Tuesday, May 19th. They issued a “peer perform” rating on the stock. HC Wainwright restated a “buy” rating and set a $100.00 price target on shares of CG Oncology in a research note on Wednesday, July 29th. Finally, Royal Bank Of Canada raised their price objective on shares of CG Oncology from $79.00 to $81.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $82.00.

CG Oncology Stock Performance

Shares of CGON stock opened at $74.98 on Friday. CG Oncology has a fifty-two week low of $23.65 and a fifty-two week high of $77.00. The stock has a 50 day simple moving average of $66.86 and a two-hundred day simple moving average of $63.87. The company has a market cap of $6.61 billion, a P/E ratio of -32.18 and a beta of 0.23.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings data on Friday, August 7th. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.24). The firm had revenue of $1.16 million for the quarter, compared to the consensus estimate of $0.36 million. On average, research analysts predict that CG Oncology will post -2.89 earnings per share for the current year.

Insider Buying and Selling at CG Oncology

In other news, Director James Mulay sold 24,165 shares of the firm’s stock in a transaction on Friday, July 10th. The stock was sold at an average price of $75.16, for a total transaction of $1,816,241.40. Following the completion of the sale, the director directly owned 24,165 shares of the company’s stock, valued at $1,816,241.40. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Leonard E. Post sold 5,000 shares of CG Oncology stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $70.00, for a total value of $350,000.00. Following the sale, the director owned 5,000 shares in the company, valued at $350,000. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 37,129 shares of company stock worth $2,663,817 in the last quarter. 4.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CGON. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of CG Oncology during the 4th quarter worth approximately $27,000. NFSG Corp purchased a new position in CG Oncology in the first quarter valued at approximately $34,000. Comerica Bank grew its holdings 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 purchasing an additional 515 shares during the period. Fifth Third Bancorp bought a new position in CG Oncology during the first quarter valued at $74,000. Finally, KBC Group NV purchased a new stake in CG Oncology in the first quarter worth $78,000. 26.56% of the stock is owned by institutional investors.

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.