Royal Bank Of Canada Has Lowered Expectations for CG Oncology (NASDAQ:CGON) Stock Price

Key Points

• Royal Bank of Canada lowered its CG Oncology price target to $79 from $81 but maintained an “outperform” rating, implying 6.59% upside from the prior close.
• Analyst sentiment remains broadly positive: the stock has a “Moderate Buy” consensus rating and an average price target of $83.18, with Truist and Piper Sandler raising their targets to $85 and HC Wainwright maintaining a $100 target.
• CG Oncology reported a wider-than-expected quarterly loss of $0.90 per share versus the $0.66 consensus estimate, although revenue of $1.16 million exceeded expectations.

CG Oncology (NASDAQ:CGON - Get Free Report) had its price target dropped by research analysts at Royal Bank Of Canada from $81.00 to $79.00 in a report released on Friday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective indicates a potential upside of 6.59% from the stock's previous close.

Several other equities analysts have also weighed in on CGON. Truist Financial lifted their price objective on CG Oncology from $82.00 to $85.00 and gave the company a "buy" rating in a research note on Friday. Piper Sandler increased their target price on shares of CG Oncology from $82.00 to $85.00 and gave the stock an "overweight" rating in a research report on Friday. HC Wainwright restated a "buy" rating and issued a $100.00 price target on shares of CG Oncology in a report on Wednesday, July 29th. Wedbush boosted their price objective 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. Finally, Wall Street Zen downgraded shares of CG Oncology from a "hold" rating to a "sell" rating in a research note on Saturday, April 25th. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $83.18.

CG Oncology Stock Performance

Shares of CGON traded down $0.73 during trading hours on Friday, hitting $74.11. The stock had a trading volume of 284,638 shares, compared to its average volume of 1,158,647. The firm has a market cap of $6.54 billion, a P/E ratio of -31.84 and a beta of 0.23. The company's fifty day simple moving average is $66.86 and its 200 day simple moving average is $63.87. CG Oncology has a 12-month low of $23.65 and a 12-month high of $77.00.

CG Oncology (NASDAQ:CGON - Get Free Report) last posted its quarterly earnings results on Friday, August 7th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.24). The business had revenue of $1.16 million during the quarter, compared to analysts' expectations of $0.36 million. As a group, sell-side analysts predict that CG Oncology will post -2.89 earnings per share for the current fiscal year.

Insider Buying and Selling at CG Oncology

In other news, Director James Mulay sold 24,165 shares of the company's stock in a transaction 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 directly owned 24,165 shares in the company, valued at approximately $1,816,241.40. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian Guan-Chyun Liu bought 371,085 shares of the firm's stock in a transaction dated Thursday, June 25th. The stock was purchased at an average price of $66.87 per share, with a total value of $24,814,453.95. Following the completion of the purchase, the director directly owned 1,886,236 shares of the company's stock, valued at approximately $126,132,601.32. This trade represents a 24.49% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 37,129 shares of company stock valued at $2,663,817 over the last 90 days. 4.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CG Oncology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. purchased a new position in CG Oncology in the fourth quarter valued at about $27,000. NFSG Corp purchased a new stake in CG Oncology during the 1st quarter worth approximately $34,000. Comerica Bank increased its holdings in CG Oncology by 100.4% during the 4th 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. Fifth Third Bancorp acquired a new position in shares of CG Oncology in the 1st quarter valued at approximately $74,000. Finally, KBC Group NV acquired a new position in shares of CG Oncology in the 1st quarter valued at approximately $78,000. 26.56% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting CG Oncology

Here are the key news stories impacting CG Oncology this week:

• Positive Sentiment: Analysts raised price targets. Piper Sandler increased its target from $82 to $85 and assigned an “overweight” rating, while Truist Financial also raised its target to $85 and reiterated a “buy” rating. Both targets imply approximately 14.7% upside from the referenced share price. Benzinga analyst coverage The Fly analyst coverage
• Positive Sentiment: HC Wainwright maintained a $100 “Buy” target. The firm raised its FY2030 EPS forecast to $6.88 from $6.77, reinforcing its view that CG Oncology could generate substantial long-term earnings as its business and pipeline develop. MarketBeat analyst estimates
• Neutral Sentiment: Options activity showed increased investor interest. Investors purchased a high volume of CGON call options, which may indicate bullish positioning, although options activity is speculative and does not necessarily reflect sustained buying of the stock. Investors buy CG Oncology call options
• Negative Sentiment: Second-quarter earnings missed expectations. CG Oncology reported a loss of $0.90 per share, wider than the $0.66 consensus loss and the $0.54 loss reported a year earlier. The company’s $1.16 million in revenue exceeded the $0.36 million estimate, but the earnings shortfall likely weighs on near-term sentiment. CG Oncology second-quarter results
• Negative Sentiment: HC Wainwright trimmed its FY2029 EPS forecast to $2.34 from $2.43, partially offsetting its more optimistic FY2030 estimate and signaling some uncertainty in the timing of CG Oncology’s profitability.

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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