CG Oncology (NASDAQ:CGON) Lowered to "Sell" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded CG Oncology from "hold" to "sell", even though the consensus remains a "Moderate Buy" with 11 buy ratings and an average price target of $79.00.
• Shares opened at $68.68 (market cap $5.8B); CGON beat quarterly EPS estimates with -$0.51 and currently trades above its 50- and 200-day moving averages ($64.12 and $51.52), with a 12-month range of $21.00–$73.56.
• Director James Mulay sold 15,600 shares at about $73.01 on April 17, reducing his holdings by 50%, while insiders collectively own 7.4% and institutions own roughly 26.6% of the stock.

CG Oncology (NASDAQ:CGON - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday.

A number of other equities analysts also recently issued reports on the company. JPMorgan Chase & Co. increased their price target on CG Oncology from $65.00 to $91.00 and gave the stock an "overweight" rating in a research report on Friday, April 17th. Royal Bank Of Canada increased their price target on CG Oncology from $61.00 to $73.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 21st. Piper Sandler increased their price target on CG Oncology from $55.00 to $70.00 and gave the stock an "overweight" rating in a research report on Friday, January 16th. The Goldman Sachs Group reiterated a "buy" rating and set a $82.00 price target on shares of CG Oncology in a research report on Monday, January 12th. Finally, Truist Financial increased their price target on CG Oncology from $66.00 to $75.00 and gave the stock a "buy" rating in a research report on Tuesday, February 10th. Eleven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, CG Oncology has a consensus rating of "Moderate Buy" and an average price target of $79.00.

CG Oncology Trading Down 1.7%

Shares of CGON stock opened at $68.68 on Friday. The company has a market capitalization of $5.80 billion, a P/E ratio of -33.18 and a beta of 0.70. The business's 50 day moving average is $64.12 and its two-hundred day moving average is $51.52. CG Oncology has a 12-month low of $21.00 and a 12-month high of $73.56.

CG Oncology (NASDAQ:CGON - Get Free Report) last issued its quarterly earnings results on Friday, February 27th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.61) by $0.10. The business had revenue of $2.32 million for the quarter. On average, research analysts predict that CG Oncology will post -2.56 earnings per share for the current fiscal year.

Insider Activity at CG Oncology

In other CG Oncology news, Director James Mulay sold 15,600 shares of the stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $73.01, for a total transaction of $1,138,956.00. Following the completion of the transaction, the director owned 15,600 shares of the company's stock, valued at $1,138,956. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.40% of the stock is owned by insiders.

Hedge Funds Weigh In On CG Oncology

A number of hedge funds have recently made changes to their positions in CGON. Comerica Bank grew its position in shares of CG Oncology by 100.4% in 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 in the last quarter. LPL Financial LLC grew its position 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 valued at $257,000 after purchasing an additional 551 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of CG Oncology in the fourth quarter valued at approximately $27,000. CWM LLC grew its position in CG Oncology by 10.9% in the third quarter. CWM LLC now owns 6,865 shares of the company's stock worth $277,000 after acquiring an additional 672 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in CG Oncology by 33.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,920 shares of the company's stock worth $163,000 after acquiring an additional 972 shares during the period. Institutional investors and hedge funds own 26.56% of the company's stock.

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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