Wall Street Zen Upgrades CG Oncology (NASDAQ:CGON) to “Hold”
by Sarita Garza · The Markets DailyCG Oncology (NASDAQ:CGON – Get Free Report) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.
Several other brokerages also recently weighed in on CGON. Piper Sandler lifted their target price on shares of CG Oncology from $55.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, January 16th. The Goldman Sachs Group reissued a “buy” rating and set a $82.00 price objective on shares of CG Oncology in a report on Monday, January 12th. HC Wainwright boosted their price objective on shares of CG Oncology from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, April 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of CG Oncology in a report on Wednesday, January 21st. Finally, Morgan Stanley set a $93.00 price objective on shares of CG Oncology in a report on Friday, January 9th. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, CG Oncology presently has a consensus rating of “Moderate Buy” and an average target price of $70.67.
Read Our Latest Stock Report on CG Oncology
CG Oncology Price Performance
Shares of NASDAQ:CGON opened at $67.70 on Friday. The company has a market cap of $5.72 billion, a price-to-earnings ratio of -32.71 and a beta of 0.70. The firm’s 50-day simple moving average is $60.65 and its 200-day simple moving average is $49.55. CG Oncology has a fifty-two week low of $17.10 and a fifty-two week high of $71.90.
CG Oncology (NASDAQ:CGON – Get Free Report) last issued its earnings results on Friday, February 27th. The company reported ($0.51) earnings per share for the quarter, beating the consensus estimate of ($0.61) by $0.10. The firm had revenue of $2.32 million during the quarter. On average, research analysts forecast that CG Oncology will post -1.31 EPS for the current year.
Insider Buying and Selling
In related news, Director James Mulay sold 1,964 shares of the business’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 SEC, which is accessible through this link.
Hedge Funds Weigh In On CG Oncology
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Candriam S.C.A. raised its position in CG Oncology by 35.9% during the third quarter. Candriam S.C.A. now owns 1,037,892 shares of the company’s stock worth $41,806,000 after acquiring an additional 274,312 shares during the last quarter. JPMorgan Chase & Co. raised its position in CG Oncology by 321.3% during the third quarter. JPMorgan Chase & Co. now owns 227,879 shares of the company’s stock worth $9,179,000 after acquiring an additional 173,785 shares during the last quarter. Vanguard Group Inc. raised its position in CG Oncology by 11.4% during the third quarter. Vanguard Group Inc. now owns 6,577,281 shares of the company’s stock worth $264,933,000 after acquiring an additional 670,770 shares during the last quarter. Voya Investment Management LLC raised its position in CG Oncology by 217.6% during the third quarter. Voya Investment Management LLC now owns 47,986 shares of the company’s stock worth $1,933,000 after acquiring an additional 32,877 shares during the last quarter. Finally, Mangrove Partners IM LLC raised its position in CG Oncology by 21.0% during the third quarter. Mangrove Partners IM LLC now owns 671,692 shares of the company’s stock worth $27,056,000 after acquiring an additional 116,575 shares during the last quarter. Institutional investors and hedge funds own 26.56% of the company’s stock.
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.