Wall Street Zen Downgrades CG Oncology (NASDAQ:CGON) to Strong Sell

Key Points

• Wall Street Zen downgraded CG Oncology from “sell” to “strong sell,” contrasting with the broader analyst consensus of “Moderate Buy,” based on 11 Buy, two Hold and one Sell rating.
• CG Oncology reported a wider-than-expected quarterly loss of $0.90 per share, although revenue of $1.16 million exceeded the $0.36 million consensus estimate.
• The stock opened at $75.10, near its 52-week high of $77, while several analysts raised price targets to $85; however, insiders sold 37,129 shares worth approximately $2.66 million over the past 90 days.

CG Oncology (NASDAQ:CGON - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a note issued to investors on Saturday.

CGON has been the topic of several other research reports. Wolfe Research initiated coverage on CG Oncology in a report on Tuesday, May 19th. They set a "peer perform" rating on the stock. Piper Sandler boosted their target price on CG Oncology from $82.00 to $85.00 and gave the stock an "overweight" rating in a research report on Friday. Truist Financial upped their price target on CG Oncology from $82.00 to $85.00 and gave the company a "buy" rating in a research note on Friday. Wedbush raised their price target on CG Oncology from $77.00 to $80.00 and gave the company an "outperform" rating in a report on Monday, May 11th. Finally, Royal Bank Of Canada lowered their price objective on CG Oncology from $81.00 to $79.00 and set an "outperform" rating for the company in a research report on Friday. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $83.18.

CG Oncology Trading Up 0.3%

Shares of NASDAQ CGON opened at $75.10 on Friday. CG Oncology has a 1-year low of $23.65 and a 1-year high of $77.00. The company has a market cap of $6.62 billion, a PE ratio of -27.92 and a beta of 0.23. The company has a 50-day moving average of $67.12 and a two-hundred day moving average of $63.95.

CG Oncology (NASDAQ:CGON - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.24). The company had revenue of $1.16 million for the quarter, compared to analyst estimates of $0.36 million. CG Oncology had a negative return on equity of 26.58% and a negative net margin of 3,602.68%. As a group, equities research analysts forecast that CG Oncology will post -2.89 earnings per share for the current year.

Insider Buying and Selling at CG Oncology

In other news, Director James Mulay sold 24,165 shares of the firm's stock in a transaction on Friday, July 10th. The stock was sold at an average price of $75.16, for a total value of $1,816,241.40. Following the transaction, the director directly owned 24,165 shares in the company, valued at $1,816,241.40. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Leonard E. Post sold 5,000 shares of CG Oncology stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $70.00, for a total value of $350,000.00. Following the sale, the director directly owned 5,000 shares of the company's stock, valued at approximately $350,000. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 37,129 shares of company stock worth $2,663,817. Insiders own 4.80% of the company's stock.

Hedge Funds Weigh In On CG Oncology

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

Key Headlines 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, implying approximately 13.2% upside. Benzinga
• Positive Sentiment: Truist Financial also raised its target from $82 to $85 and upgraded its view to “buy,” citing a more constructive outlook for CG Oncology. The Fly
• Positive Sentiment: HC Wainwright maintained a “buy” rating and a $100 target. The firm modestly increased its long-term FY2030 EPS forecast to $6.88 from $6.77, reinforcing expectations for significant future earnings growth as the company advances its pipeline. MarketBeat
• Positive Sentiment: CG Oncology reported second-quarter revenue of $1.16 million, substantially above the $0.36 million consensus estimate, while also highlighting pipeline and business progress. CG Oncology Second-Quarter Results
• Neutral Sentiment: Royal Bank of Canada lowered its target from $81 to $79 but retained an “outperform” rating. The reduced target still represents roughly 5.2% potential upside and may reflect valuation calibration rather than a fundamental downgrade. Ticker Report
• Negative Sentiment: CG Oncology reported a quarterly loss of $0.90 per share, wider than the $0.66 consensus loss and the $0.54 loss recorded a year earlier. The earnings shortfall could limit gains despite strong analyst targets. Zacks Q2 Earnings Report
• Negative Sentiment: HC Wainwright reduced its FY2029 EPS estimate from $2.43 to $2.34, signaling some moderation in its intermediate-term earnings outlook, although its buy rating and $100 target remain unchanged.

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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