CG Oncology (NASDAQ:CGON) Price Target Raised to $81.00

Key Points

• Royal Bank of Canada raised its price target on CG Oncology from $79 to $81 while keeping an outperform rating, implying about 15% upside from the previous close.
• Analyst sentiment remains generally positive, with 11 Buy ratings versus one Hold and one Sell, and a consensus Moderate Buy rating with an average target price of $80.82.
• CG Oncology recently reported a quarterly EPS loss of $0.71, wider than expected, though revenue of $1.08 million came in above estimates; the stock was trading near $70.28 and close to its 52-week high.

CG Oncology (NASDAQ:CGON - Get Free Report) had its price objective boosted by equities research analysts at Royal Bank Of Canada from $79.00 to $81.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective would indicate a potential upside of 15.26% from the company's previous close.

A number of other equities analysts also recently weighed in on CGON. Wall Street Zen downgraded CG Oncology from a "hold" rating to a "sell" rating in a research report on Saturday, April 25th. JPMorgan Chase & Co. increased their price objective on CG Oncology from $65.00 to $91.00 and gave the company an "overweight" rating in a report on Friday, April 17th. Truist Financial reissued a "buy" rating and issued a $77.00 price objective (up from $75.00) on shares of CG Oncology in a report on Monday. Weiss Ratings reissued a "sell (d-)" rating on shares of CG Oncology in a report on Monday, April 20th. Finally, Wedbush increased their price objective on CG Oncology from $77.00 to $80.00 and gave the company an "outperform" rating in a report on Monday. Eleven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $80.82.

CG Oncology Price Performance

NASDAQ:CGON traded up $0.66 during trading hours on Monday, reaching $70.28. 122,870 shares of the stock were exchanged, compared to its average volume of 1,223,371. CG Oncology has a twelve month low of $23.32 and a twelve month high of $73.56. The firm has a 50 day moving average of $65.66 and a 200 day moving average of $52.87. The stock has a market cap of $6.18 billion, a PE ratio of -30.26 and a beta of 0.41.

CG Oncology (NASDAQ:CGON - Get Free Report) last released its quarterly earnings results on Friday, May 8th. The company reported ($0.71) earnings per share for the quarter, missing analysts' consensus estimates of ($0.58) by ($0.13). The business had revenue of $1.08 million during the quarter, compared to analysts' expectations of $0.45 million. Equities research analysts anticipate that CG Oncology will post -2.56 earnings per share for the current year.

Insider Buying and Selling at CG Oncology

In other news, Director James Mulay sold 15,600 shares of the business's stock in a transaction dated 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 sale, the director directly owned 15,600 shares in the company, valued at approximately $1,138,956. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 4.80% of the company's stock.

Institutional Trading of CG Oncology

Several hedge funds and other institutional investors have recently made changes to their positions in the company. NFSG Corp bought a new stake in shares of CG Oncology during the first quarter worth about $34,000. Comerica Bank grew its holdings 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 purchasing an additional 515 shares during the last quarter. LPL Financial LLC grew its holdings in shares of CG Oncology by 9.8% during 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 stake in shares of CG Oncology during the fourth quarter worth about $27,000. Finally, CWM LLC grew its holdings in shares of CG Oncology by 10.9% during the third quarter. CWM LLC now owns 6,865 shares of the company's stock worth $277,000 after purchasing an additional 672 shares during the last quarter. 26.56% of the stock is currently owned by institutional investors.

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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