CG Oncology (NASDAQ:CGON) Hits New 12-Month High – Still a Buy?

CG Oncology, Inc. (NASDAQ:CGON)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $79.52 and last traded at $80.1130, with a volume of 131965 shares traded. The stock had previously closed at $76.29.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CGON. Piper Sandler upped their price objective on shares of CG Oncology from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Wall Street Zen downgraded CG Oncology from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. JPMorgan Chase & Co. boosted 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. Wolfe Research assumed coverage on shares of CG Oncology in a research report on Tuesday, May 19th. They set a “peer perform” rating for the company. Finally, Royal Bank Of Canada dropped their target price on shares of CG Oncology from $81.00 to $79.00 and set an “outperform” rating for the company in a report on Friday, August 7th. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $83.18.

CG Oncology Trading Up 4.8%

The company has a market capitalization of $7.09 billion, a PE ratio of -29.75 and a beta of 0.23. The business has a fifty day moving average of $69.99 and a 200 day moving average of $65.07.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.24). The business had revenue of $1.16 million for the quarter, compared to analysts’ expectations of $0.36 million. CG Oncology had a negative return on equity of 25.20% and a negative net margin of 3,602.68%. Equities analysts forecast that CG Oncology, Inc. will post -3.25 EPS for the current fiscal year.

Insider Buying and Selling

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $74.54, for a total transaction of $74,540.00. Following the sale, the director directly owned 1,000 shares in the company, valued at $74,540. This represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Brian Guan-Chyun Liu purchased 371,085 shares of the firm’s stock in a transaction on Thursday, June 25th. The stock was acquired at an average cost of $66.87 per share, with a total value of $24,814,453.95. Following the transaction, the director directly owned 1,886,236 shares in the company, valued at $126,132,601.32. This trade represents a 24.49% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 38,129 shares of company stock valued at $2,738,357 in the last ninety days. Company insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. purchased a new stake in CG Oncology during the 4th quarter worth about $27,000. Fiduciary Financial Advisors acquired a new stake in CG Oncology in the 2nd quarter valued at about $28,000. NFSG Corp purchased a new position in shares of CG Oncology in the 1st quarter valued at about $34,000. Comerica Bank grew its position in shares of CG Oncology by 100.4% during the fourth quarter. Comerica Bank now owns 1,028 shares of the company’s stock worth $43,000 after buying an additional 515 shares in the last quarter. Finally, Fifth Third Bancorp acquired a new position in shares of CG Oncology during the first quarter worth about $74,000. 26.56% of the stock is owned by institutional investors and hedge funds.

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.