Truist Financial Issues Positive Forecast for CG Oncology (NASDAQ:CGON) Stock Price

Key Points

• Truist Financial raised CG Oncology’s price target to $85 from $82 and maintained a “buy” rating, implying 13.36% upside from the reported $74.98 share price.
• Analyst sentiment is broadly positive: CG Oncology has a consensus “Moderate Buy” rating, with 11 Buy, two Hold, and one Sell recommendation and an average price target of $82.
• The company reported a quarterly loss of $0.90 per share, wider than the $0.66 consensus estimate, despite revenue of $1.16 million exceeding expectations; shares were up 0.2% and trading near their 52-week high.

CG Oncology (NASDAQ:CGON - Get Free Report) had its price objective raised by investment analysts at Truist Financial from $82.00 to $85.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Truist Financial's price target would indicate a potential upside of 13.36% from the stock's current price.

Several other brokerages have also issued reports on CGON. JPMorgan Chase & Co. lifted their price target on CG Oncology from $91.00 to $96.00 and gave the company an "overweight" rating in a research note on Monday, May 11th. Wolfe Research initiated coverage on CG Oncology in a research note on Tuesday, May 19th. They issued a "peer perform" rating on the stock. Wall Street Zen downgraded CG Oncology from a "hold" rating to a "sell" rating in a research note on Saturday, April 25th. Wedbush increased their target price on shares of CG Oncology from $77.00 to $80.00 and gave the stock an "outperform" rating in a report on Monday, May 11th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of CG Oncology in a research note on Friday, July 17th. Eleven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, CG Oncology presently has a consensus rating of "Moderate Buy" and a consensus price target of $82.00.

CG Oncology Trading Up 0.2%

NASDAQ CGON opened at $74.98 on Friday. The firm's 50 day simple moving average is $66.86 and its 200 day simple moving average is $63.87. The firm has a market capitalization of $6.61 billion, a price-to-earnings ratio of -32.18 and a beta of 0.23. CG Oncology has a 1 year low of $23.65 and a 1 year high of $77.00.

CG Oncology (NASDAQ:CGON - Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.24). The business had revenue of $1.16 million for the quarter, compared to analyst estimates of $0.36 million. On average, equities research analysts forecast that CG Oncology will post -2.89 earnings per share for the current year.

Insider Activity

In related news, Director James Mulay sold 24,165 shares of the business's stock in a transaction on Friday, July 10th. The stock was sold at an average price of $75.16, for a total transaction of $1,816,241.40. Following the sale, the director owned 24,165 shares in the company, valued at $1,816,241.40. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Brian Guan-Chyun Liu bought 371,085 shares of the stock in a transaction on Thursday, June 25th. The stock was purchased at an average cost of $66.87 per share, with a total value of $24,814,453.95. Following the acquisition, the director owned 1,886,236 shares in the company, valued at approximately $126,132,601.32. This represents a 24.49% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders sold 37,129 shares of company stock worth $2,663,817. Insiders own 4.80% of the company's stock.

Institutional Trading of CG Oncology

A number of hedge funds have recently made changes to their positions in CGON. NFSG Corp acquired a new position in shares of CG Oncology in the first quarter valued at approximately $34,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in CG Oncology during the 4th quarter worth approximately $27,000. Comerica Bank boosted its position 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 buying an additional 515 shares during the period. Fifth Third Bancorp bought a new stake in CG Oncology during the 1st quarter worth approximately $74,000. Finally, KBC Group NV bought a new stake in CG Oncology during the 1st quarter worth approximately $78,000. 26.56% of the stock is owned by institutional investors and hedge funds.

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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