CG Oncology (NASDAQ:CGON) Downgraded by Wall Street Zen to Sell

Wall Street Zen cut shares of CG Oncology (NASDAQ:CGON) from a hold rating to a sell rating in a research report released on Saturday morning.

A number of other research analysts also recently issued reports on CGON. Morgan Stanley set a $93.00 target price on shares of CG Oncology in a research report on Friday, January 9th. Wedbush initiated coverage on shares of CG Oncology in a research note on Thursday, December 11th. They issued an “outperform” rating and a $70.00 price target for the company. Piper Sandler upped their price objective on shares of CG Oncology from $55.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, January 16th. Royal Bank Of Canada increased their price objective on shares of CG Oncology from $61.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. Finally, HC Wainwright raised their target price on CG Oncology from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $69.00.

CG Oncology Price Performance

Shares of CG Oncology stock opened at $64.62 on Friday. CG Oncology has a one year low of $14.80 and a one year high of $69.35. The stock’s 50-day moving average is $58.01 and its 200 day moving average is $47.23. The firm has a market cap of $5.46 billion, a price-to-earnings ratio of -31.22 and a beta of 1.18.

CG Oncology (NASDAQ:CGON) last issued its earnings results on Friday, February 27th. The company reported ($0.51) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.10. The business had revenue of $2.32 million during the quarter. On average, sell-side analysts expect that CG Oncology will post -1.31 EPS for the current fiscal year.

Insider Buying and Selling

In other CG Oncology news, Director James Mulay sold 1,964 shares of the company’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $63.50, for a total transaction of $124,714.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On CG Oncology

Institutional investors and hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. lifted its position in CG Oncology by 15.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,279 shares of the company’s stock valued at $85,000 after acquiring an additional 433 shares in the last quarter. Comerica Bank increased its holdings in CG Oncology by 100.4% during the 4th quarter. Comerica Bank now owns 1,028 shares of the company’s stock worth $43,000 after purchasing an additional 515 shares in the last quarter. LPL Financial LLC raised its stake in shares of CG Oncology by 9.8% in the fourth quarter. LPL Financial LLC now owns 6,201 shares of the company’s stock worth $257,000 after purchasing an additional 551 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in shares of CG Oncology in the fourth quarter valued at approximately $27,000. Finally, CWM LLC lifted its holdings in shares of CG Oncology by 10.9% in the third quarter. CWM LLC now owns 6,865 shares of the company’s stock valued at $277,000 after purchasing an additional 672 shares in 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.