CG Oncology (NASDAQ:CGON) Given New $75.00 Price Target at Truist Financial

CG Oncology (NASDAQ:CGON) had its target price hoisted by Truist Financial from $66.00 to $75.00 in a research note released on Tuesday morning, Marketbeat reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages also recently weighed in on CGON. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CG Oncology in a research note on Wednesday, January 21st. Royal Bank Of Canada raised their price objective on shares of CG Oncology from $61.00 to $73.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. Piper Sandler lifted their price objective on shares of CG Oncology from $55.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. The Goldman Sachs Group reiterated a “buy” rating and issued a $82.00 target price on shares of CG Oncology in a research report on Monday, January 12th. Finally, Morgan Stanley set a $93.00 price target on CG Oncology in a research report on Friday, January 9th. Eleven equities 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $68.58.

CG Oncology Stock Performance

NASDAQ:CGON opened at $53.09 on Tuesday. CG Oncology has a 52-week low of $14.80 and a 52-week high of $57.88. The stock has a fifty day moving average of $46.66 and a 200 day moving average of $39.60. The firm has a market capitalization of $4.28 billion, a price-to-earnings ratio of -26.02 and a beta of 1.32.

CG Oncology (NASDAQ:CGON) last announced its earnings results on Friday, November 14th. The company reported ($0.57) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.57). The business had revenue of $0.16 million during the quarter, compared to the consensus estimate of $0.07 million. Equities analysts forecast that CG Oncology will post -1.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CG Oncology news, Director James Mulay sold 11,145 shares of the business’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $52.47, for a total value of $584,778.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Leonard E. Post sold 1,000 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $41.43, for a total transaction of $41,430.00. The SEC filing for this sale provides additional information.

Hedge Funds Weigh In On CG Oncology

A number of large investors have recently bought and sold shares of the stock. Voya Investment Management LLC grew its stake in shares of CG Oncology by 217.6% in the third quarter. Voya Investment Management LLC now owns 47,986 shares of the company’s stock worth $1,933,000 after purchasing an additional 32,877 shares during the last quarter. Candriam S.C.A. lifted its holdings in CG Oncology by 35.9% in the 3rd quarter. Candriam S.C.A. now owns 1,037,892 shares of the company’s stock worth $41,806,000 after buying an additional 274,312 shares during the period. CWM LLC lifted its holdings in CG Oncology by 193.5% in the 2nd quarter. CWM LLC now owns 6,193 shares of the company’s stock worth $161,000 after buying an additional 4,083 shares during the period. Tejara Capital Ltd bought a new stake in shares of CG Oncology in the 2nd quarter worth approximately $944,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of CG Oncology during the second quarter valued at approximately $676,000. 26.56% of the stock is owned by hedge funds and other institutional investors.

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.