CG Oncology (NASDAQ:CGON) Reaches New 52-Week High After Analyst Upgrade

Key Points

• JPMorgan raised its price target on CG Oncology to $91 and kept an overweight rating, driving the stock to a new 52-week high (traded as high as $73.56) and a roughly 10.7% intraday gain from the prior close.
• Analyst sentiment is broadly positive with 11 Buys, 1 Hold and 1 Sell (consensus rating: Moderate Buy) and an average price target of $79, while firms like Morgan Stanley and Goldman Sachs have set higher targets ($93 and $82 respectively).
• Large institutional investors (Vanguard, Wellington, Price T. Rowe, State Street) hold significant positions—institutional ownership ~26.6% and insiders ~7.4%—and the company, with a $6.2B market cap, reported a narrower-than-expected loss of $0.51/share for the quarter versus estimates of -$0.61.

CG Oncology, Inc. (NASDAQ:CGON - Get Free Report) reached a new 52-week high on Saturday after JPMorgan Chase & Co. raised their price target on the stock from $65.00 to $91.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. CG Oncology traded as high as $73.56 and last traded at $73.43, with a volume of 1765238 shares. The stock had previously closed at $66.34.

Other research analysts also recently issued reports about the stock. Morgan Stanley set a $93.00 price target on shares of CG Oncology in a report on Friday, January 9th. Truist Financial upped their price target on shares of CG Oncology from $66.00 to $75.00 and gave the stock a "buy" rating in a report on Tuesday, February 10th. Weiss Ratings reiterated a "sell (d-)" rating on shares of CG Oncology in a report on Wednesday, January 21st. The Goldman Sachs Group reiterated a "buy" rating and set a $82.00 price target on shares of CG Oncology in a report on Monday, January 12th. Finally, Wall Street Zen upgraded shares of CG Oncology from a "sell" rating to a "hold" rating in a report on Saturday, April 11th. Eleven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, CG Oncology currently has an average rating of "Moderate Buy" and a consensus price target of $79.00.

Insiders Place Their Bets

In related news, Director James Mulay sold 1,964 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $63.50, for a total value of $124,714.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.40% of the stock is owned by insiders.

Institutional Trading of CG Oncology

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in CG Oncology by 11.4% in the third quarter. Vanguard Group Inc. now owns 6,577,281 shares of the company's stock valued at $264,933,000 after purchasing an additional 670,770 shares during the period. Wellington Management Group LLP increased its holdings in CG Oncology by 8.8% in the fourth quarter. Wellington Management Group LLP now owns 5,999,790 shares of the company's stock valued at $249,111,000 after purchasing an additional 487,011 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in CG Oncology by 116.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,443,144 shares of the company's stock valued at $142,961,000 after purchasing an additional 1,854,386 shares during the period. State Street Corp increased its holdings in CG Oncology by 46.4% in the fourth quarter. State Street Corp now owns 2,996,695 shares of the company's stock valued at $124,423,000 after purchasing an additional 950,028 shares during the period. Finally, Alliancebernstein L.P. boosted its position in CG Oncology by 15.0% during the second quarter. Alliancebernstein L.P. now owns 2,164,214 shares of the company's stock valued at $56,270,000 after acquiring an additional 281,637 shares during the last quarter. 26.56% of the stock is currently owned by institutional investors and hedge funds.

CG Oncology Stock Up 10.7%

The firm has a market cap of $6.20 billion, a P/E ratio of -35.47 and a beta of 0.70. The stock's 50-day simple moving average is $62.33 and its 200 day simple moving average is $50.45.

CG Oncology (NASDAQ:CGON - Get Free Report) last issued its quarterly earnings results on Friday, February 27th. The company reported ($0.51) EPS for the quarter, beating analysts' consensus estimates of ($0.61) by $0.10. The firm had revenue of $2.32 million for the quarter. On average, research analysts forecast that CG Oncology, Inc. will post -1.31 earnings per share for the current fiscal year.

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.

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