CG Oncology (NASDAQ:CGON) Downgraded by Wall Street Zen to Sell

CG Oncology (NASDAQ:CGON) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

CGON has been the topic of several other research reports. HC Wainwright boosted their target price on CG Oncology from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Wedbush started coverage on shares of CG Oncology in a report on Thursday, December 11th. They issued an “outperform” rating and a $70.00 price objective on the stock. Royal Bank Of Canada boosted their price objective on shares of CG Oncology from $61.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. Piper Sandler increased their target price 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. Finally, Morgan Stanley set a $93.00 target price on shares of CG Oncology in a research report on Friday, January 9th. Eleven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, CG Oncology currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.00.

CG Oncology Trading Down 3.1%

CGON stock opened at $64.62 on Friday. The stock has a 50-day moving average price of $58.01 and a two-hundred day moving average price of $47.14. CG Oncology has a 1 year low of $14.80 and a 1 year high of $69.35. The stock has a market cap of $5.46 billion, a PE ratio of -31.22 and a beta of 1.18.

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

Insider Activity

In other news, Director James Mulay sold 1,964 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $63.50, for a total value of $124,714.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CG Oncology

A number of institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its position in CG Oncology by 15.2% during the second 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 in the last quarter. Comerica Bank grew its position in shares of CG Oncology by 100.4% in the 4th quarter. Comerica Bank now owns 1,028 shares of the company’s stock valued at $43,000 after acquiring an additional 515 shares during the period. LPL Financial LLC increased its stake in shares of 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 shares of CG Oncology during the 4th quarter worth about $27,000. Finally, CWM LLC raised its holdings 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 purchasing an additional 672 shares during the period. 26.56% of the stock is currently owned by institutional investors and hedge funds.

CG Oncology Company Profile

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.