CG Oncology (NASDAQ:CGON) Trading Up 10.1% on Analyst Upgrade

Key Points

• CG Oncology shares jumped 10.1% after JPMorgan raised its price target from $65 to $91 and kept an overweight rating, with the stock trading near $73 on the rally.
• Analyst support is broad — multiple firms raised targets recently and MarketBeat shows a consensus price target of $79 with 11 Buys, 1 Hold and 1 Sell (average rating: "Moderate Buy").
• CG Oncology is a clinical‑stage biopharma (market cap ~$6.18B) with a negative P/E (~-35), and it recently beat quarterly EPS estimates (‑$0.51 vs. ‑$0.61) on $2.32M in revenue.

CG Oncology, Inc. (NASDAQ:CGON - Get Free Report)'s stock price traded up 10.1% during trading on Friday 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 $71.98 and last traded at $73.0350. 1,051,233 shares traded hands during mid-day trading, a decline of 20% from the average session volume of 1,319,208 shares. The stock had previously closed at $66.34.

CGON has been the topic of several other research reports. Piper Sandler lifted their price objective on shares of CG Oncology from $55.00 to $70.00 and gave the company an "overweight" rating in a research note 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. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of CG Oncology in a research report on Wednesday, January 21st. Truist Financial increased their price target on CG Oncology from $66.00 to $75.00 and gave the stock a "buy" rating in a report on Tuesday, February 10th. Finally, HC Wainwright upped their target price on CG Oncology from $80.00 to $100.00 and gave the stock a "buy" rating in a research report on Tuesday, April 7th. Eleven research 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. According to MarketBeat, CG Oncology 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 firm's stock in a transaction dated 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 Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.40% of the company's stock.

Institutional Trading of CG Oncology

A number of institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC bought a new stake in shares of CG Oncology during the first quarter valued at about $475,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in CG Oncology by 18.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,522 shares of the company's stock worth $876,000 after purchasing an additional 5,442 shares in the last quarter. Millennium Management LLC boosted its holdings in CG Oncology by 139.4% in the 1st quarter. Millennium Management LLC now owns 596,056 shares of the company's stock valued at $14,597,000 after purchasing an additional 347,055 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of CG Oncology by 42.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 179,363 shares of the company's stock valued at $4,393,000 after purchasing an additional 53,461 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of CG Oncology by 12.3% in the second quarter. Legal & General Group Plc now owns 44,354 shares of the company's stock worth $1,153,000 after purchasing an additional 4,847 shares during the period. Hedge funds and other institutional investors own 26.56% of the company's stock.

CG Oncology Price Performance

The stock has a market cap of $6.18 billion, a P/E ratio of -35.34 and a beta of 0.70. The firm's fifty day moving average price is $61.86 and its two-hundred day moving average price is $50.21.

CG Oncology (NASDAQ:CGON - Get Free Report) last announced its earnings results on Friday, February 27th. The company reported ($0.51) earnings per share for the quarter, beating analysts' consensus estimates of ($0.61) by $0.10. The company had revenue of $2.32 million during the quarter. On average, research analysts expect 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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