CG Oncology (NASDAQ:CGON) Hits New 52-Week High - Should You Buy?

Key Points

• CG Oncology shares reached a new 52-week high of $77.49 and last traded near $76.98, supported by an analyst consensus rating of “Moderate Buy” and an average price target of $83.18.
• Analyst sentiment is largely positive, with 11 Buy ratings, two Holds and one Sell; several firms recently raised their targets to $85-$96.
• The clinical-stage biotech remains unprofitable: it reported a quarterly loss of $0.90 per share versus an expected $0.66 loss, while insiders sold 37,129 shares worth approximately $2.66 million during the last quarter.

CG Oncology, Inc. (NASDAQ:CGON - Get Free Report)'s stock price hit a new 52-week high on Tuesday . The stock traded as high as $77.49 and last traded at $76.9830, with a volume of 20157 shares trading hands. The stock had previously closed at $76.56.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CGON. Wedbush boosted their price target on shares of CG Oncology from $77.00 to $80.00 and gave the stock an "outperform" rating in a research note on Monday, May 11th. Piper Sandler lifted their price objective on CG Oncology from $82.00 to $85.00 and gave the company an "overweight" rating in a report on Friday. Truist Financial lifted their price objective on CG Oncology from $82.00 to $85.00 and gave the company a "buy" rating in a report on Friday. Weiss Ratings reiterated a "sell (d-)" rating on shares of CG Oncology in a research report on Friday, July 17th. Finally, JPMorgan Chase & Co. increased their target price on CG Oncology from $91.00 to $96.00 and gave the stock an "overweight" rating in a research note on Monday, May 11th. Eleven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $83.18.

CG Oncology Stock Down 0.5%

The business's fifty day moving average is $67.47 and its 200 day moving average is $64.17. The stock has a market cap of $6.75 billion, a PE ratio of -28.30 and a beta of 0.23.

CG Oncology (NASDAQ:CGON - Get Free Report) last issued its 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). CG Oncology had a negative net margin of 3,602.68% and a negative return on equity of 26.58%. The company had revenue of $1.16 million during the quarter, compared to analysts' expectations of $0.36 million. As a group, analysts predict that CG Oncology, Inc. will post -3.03 EPS for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of CG Oncology during the fourth quarter worth $27,000. NFSG Corp purchased a new position in CG Oncology during the first quarter worth about $34,000. Comerica Bank lifted its position in 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 during the period. Fifth Third Bancorp acquired a new stake in CG Oncology in the 1st quarter worth about $74,000. Finally, KBC Group NV acquired a new stake in CG Oncology in the 1st quarter worth about $78,000. 26.56% of the stock is currently 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.

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