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

CG Oncology (NASDAQ:CGON) had its price objective boosted by analysts at Truist Financial from $66.00 to $75.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective indicates a potential upside of 46.83% from the company’s current price.

CGON has been the subject of a number of other reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CG Oncology in a research note on Wednesday, January 21st. Wedbush started coverage on shares of CG Oncology in a research report on Thursday, December 11th. They issued an “outperform” rating and a $70.00 price target for the company. Piper Sandler increased their price objective on shares of CG Oncology from $55.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. 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 note on Wednesday, January 21st. Finally, Morgan Stanley set a $93.00 target price on CG Oncology in a report on Friday, January 9th. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $68.58.

CG Oncology Price Performance

Shares of CGON opened at $51.08 on Tuesday. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of -25.04 and a beta of 1.31. The company has a 50-day moving average of $46.42 and a 200 day moving average of $39.41. CG Oncology has a 1-year low of $14.80 and a 1-year high of $57.88.

CG Oncology (NASDAQ:CGON) last released its quarterly earnings data on Friday, November 14th. The company reported ($0.57) EPS for the quarter, hitting the consensus estimate of ($0.57). The firm had revenue of $0.16 million for the quarter, compared to analysts’ expectations of $0.07 million. On average, equities analysts anticipate that CG Oncology will post -1.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CG Oncology news, Director James Mulay sold 11,145 shares of CG Oncology stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Leonard E. Post sold 1,000 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $41.43, for a total value of $41,430.00. The disclosure for this sale is available in the SEC filing.

Institutional Investors Weigh In On CG Oncology

A number of large investors have recently bought and sold shares of CGON. Whittier Trust Co. of Nevada Inc. acquired a new position in CG Oncology in the 4th quarter worth approximately $27,000. Strengthening Families & Communities LLC purchased a new stake in shares of CG Oncology in the 3rd quarter valued at $40,000. Comerica Bank raised its holdings in shares of CG Oncology by 100.4% during the fourth quarter. Comerica Bank now owns 1,028 shares of the company’s stock worth $43,000 after purchasing an additional 515 shares during the last quarter. Winthrop Capital Management LLC acquired a new position in CG Oncology during the second quarter valued at $38,000. Finally, PNC Financial Services Group Inc. lifted 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 valued at $85,000 after purchasing an additional 433 shares during the period. Hedge funds and other institutional investors 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.