HC Wainwright Forecasts Strong Price Appreciation for CG Oncology (NASDAQ:CGON) Stock

CG Oncology (NASDAQ:CGON) had its price target boosted by analysts at HC Wainwright from $75.00 to $80.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s target price would suggest a potential upside of 36.05% from the stock’s previous close.

A number of other analysts have also weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of CG Oncology in a report on Wednesday, January 21st. The Goldman Sachs Group restated a “buy” rating and issued a $82.00 price objective on shares of CG Oncology in a report on Monday, January 12th. Truist Financial boosted their price target on CG Oncology from $66.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Morgan Stanley set a $93.00 price objective on CG Oncology in a research report on Friday, January 9th. Finally, Wedbush began coverage on shares of CG Oncology in a research note on Thursday, December 11th. They issued an “outperform” rating and a $70.00 price target on the stock. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, CG Oncology currently has a consensus rating of “Moderate Buy” and an average price target of $69.00.

CG Oncology Stock Up 4.8%

Shares of CGON opened at $58.80 on Friday. The stock’s fifty day simple moving average is $50.42 and its 200-day simple moving average is $42.20. The firm has a market capitalization of $4.74 billion, a PE ratio of -28.41 and a beta of 1.32. CG Oncology has a 12-month low of $14.80 and a 12-month high of $60.00.

CG Oncology (NASDAQ:CGON) last posted its quarterly earnings data on Friday, February 27th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.10. The firm had revenue of $2.32 million for the quarter. Analysts anticipate that CG Oncology will post -1.31 EPS for the current year.

Insider Activity at CG Oncology

In other CG Oncology news, Director James Mulay sold 11,145 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $52.47, for a total transaction of $584,778.15. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On CG Oncology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. grew its holdings in CG Oncology by 15.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,279 shares of the company’s stock worth $85,000 after acquiring an additional 433 shares during the last quarter. Comerica Bank increased its holdings in CG Oncology by 100.4% in the fourth quarter. Comerica Bank now owns 1,028 shares of the company’s stock valued at $43,000 after purchasing an additional 515 shares during the period. LPL Financial LLC raised its position in CG Oncology by 9.8% during the 4th quarter. LPL Financial LLC now owns 6,201 shares of the company’s stock worth $257,000 after purchasing an additional 551 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in CG Oncology during the 4th quarter worth about $27,000. Finally, CWM LLC grew its position in shares of CG Oncology by 10.9% in the 3rd quarter. CWM LLC now owns 6,865 shares of the company’s stock valued at $277,000 after buying an additional 672 shares during the last quarter. 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.