Wedbush Raises CG Oncology (NASDAQ:CGON) Price Target to $80.00

CG Oncology (NASDAQ:CGON) had its target price upped by equities researchers at Wedbush from $77.00 to $80.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Wedbush’s price objective would suggest a potential upside of 14.91% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Piper Sandler boosted 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. JPMorgan Chase & Co. lifted their target price on shares of CG Oncology from $65.00 to $91.00 and gave the stock an “overweight” rating in a research note on Friday, April 17th. Truist Financial lifted their target price on shares of CG Oncology from $66.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CG Oncology in a research note on Monday, April 20th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $82.00 target price on shares of CG Oncology in a research note on Monday, January 12th. Eleven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, CG Oncology presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.45.

CG Oncology Stock Performance

Shares of CGON opened at $69.62 on Monday. The firm has a market cap of $6.13 billion, a price-to-earnings ratio of -29.88 and a beta of 0.41. CG Oncology has a fifty-two week low of $23.32 and a fifty-two week high of $73.56. The firm has a 50 day moving average price of $65.66 and a 200-day moving average price of $52.87.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings data on Friday, May 8th. The company reported ($0.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.13). The firm had revenue of $1.08 million for the quarter, compared to analysts’ expectations of $0.45 million. As a group, equities research analysts predict that CG Oncology will post -2.56 earnings per share for the current year.

Insider Transactions at CG Oncology

In other CG Oncology news, Director James Mulay sold 15,600 shares of the business’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $73.01, for a total transaction of $1,138,956.00. Following the transaction, the director directly owned 15,600 shares of the company’s stock, valued at approximately $1,138,956. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CGON. AQR Capital Management LLC purchased a new position in CG Oncology during the 1st quarter valued at $475,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position 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 valued at $876,000 after purchasing an additional 5,442 shares during the period. Millennium Management LLC increased its position in CG Oncology by 139.4% during the 1st quarter. Millennium Management LLC now owns 596,056 shares of the company’s stock valued at $14,597,000 after purchasing an additional 347,055 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in CG Oncology by 42.5% during the 1st 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 position in CG Oncology by 12.3% during the 2nd 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 during the period. 26.56% of the stock is owned by hedge funds and other institutional investors.

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.