CG Oncology (NASDAQ:CGON) Announces Earnings Results

CG Oncology (NASDAQ:CGON) issued its quarterly earnings results on Friday. The company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.13), Zacks reports. The business had revenue of $1.08 million for the quarter, compared to the consensus estimate of $0.45 million.

CG Oncology Price Performance

Shares of CG Oncology stock traded up $0.44 on Friday, reaching $69.62. 1,143,031 shares of the company were exchanged, compared to its average volume of 947,951. The stock’s 50 day moving average price is $65.66 and its 200-day moving average price is $52.87. The company has a market cap of $6.13 billion, a P/E ratio of -33.63 and a beta of 0.41. CG Oncology has a 1-year low of $23.32 and a 1-year high of $73.56.

Insider Transactions at CG Oncology

In related news, Director James Mulay sold 15,600 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $73.01, for a total value of $1,138,956.00. Following the completion of the transaction, the director directly owned 15,600 shares of the company’s stock, valued at $1,138,956. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On CG Oncology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. LPL Financial LLC boosted its holdings in CG Oncology by 9.8% in the fourth quarter. LPL Financial LLC now owns 6,201 shares of the company’s stock valued at $257,000 after purchasing an additional 551 shares in the last quarter. Swiss National Bank boosted its holdings in CG Oncology by 1.5% in the third quarter. Swiss National Bank now owns 81,300 shares of the company’s stock valued at $3,275,000 after purchasing an additional 1,200 shares in the last quarter. Invesco Ltd. boosted its holdings in CG Oncology by 5.3% in the second quarter. Invesco Ltd. now owns 29,231 shares of the company’s stock valued at $760,000 after purchasing an additional 1,477 shares in the last quarter. Federated Hermes Inc. boosted its holdings in CG Oncology by 20.0% in the second quarter. Federated Hermes Inc. now owns 10,200 shares of the company’s stock valued at $265,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Virtus Investment Advisers LLC boosted its holdings in CG Oncology by 51.3% in the fourth quarter. Virtus Investment Advisers LLC now owns 6,497 shares of the company’s stock valued at $270,000 after purchasing an additional 2,203 shares in the last quarter. 26.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CGON shares. The Goldman Sachs Group reiterated a “buy” rating and set a $82.00 price target on shares of CG Oncology in a research note on Monday, January 12th. Truist Financial boosted their price target 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 reissued a “sell (d-)” rating on shares of CG Oncology in a research report on Monday, April 20th. HC Wainwright boosted their price objective on CG Oncology from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, April 7th. Finally, Piper Sandler boosted their price objective on CG Oncology from $55.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $79.55.

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.