CG Oncology (NASDAQ:CGON) Trading 5.6% Higher on Earnings Beat

CG Oncology, Inc. (NASDAQ:CGON) traded up 5.6% during mid-day trading on Friday following a stronger than expected earnings report. The stock traded as high as $58.70 and last traded at $59.2330. 112,813 shares were traded during mid-day trading, a decline of 90% from the average session volume of 1,149,881 shares. The stock had previously closed at $56.11.

The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.10. The firm had revenue of $2.32 million during the quarter.

Analysts Set New Price Targets

A number of research firms recently weighed in on CGON. Weiss Ratings restated a “sell (d-)” rating on shares of CG Oncology in a research note on Wednesday, January 21st. Morgan Stanley set a $93.00 target price on shares of CG Oncology in a report on Friday, January 9th. Wedbush initiated coverage on shares of CG Oncology in a research report on Thursday, December 11th. They set an “outperform” rating and a $70.00 price objective for the company. Truist Financial upped their target price on CG Oncology from $66.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. Finally, Piper Sandler increased 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 equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.58.

Insider Buying and Selling at CG Oncology

In related news, Director James Mulay sold 11,145 shares of the stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $52.47, for a total transaction of $584,778.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its holdings in shares of CG Oncology by 15.2% in the 2nd 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 in the last quarter. Comerica Bank lifted its position in shares of CG Oncology by 100.4% during the 4th quarter. Comerica Bank now owns 1,028 shares of the company’s stock worth $43,000 after buying an additional 515 shares during the last quarter. LPL Financial LLC boosted its stake 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 buying an additional 551 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in shares of CG Oncology in the fourth quarter worth about $27,000. Finally, CWM LLC boosted its stake 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 in the last quarter. 26.56% of the stock is currently owned by institutional investors and hedge funds.

CG Oncology Stock Performance

The firm’s fifty day moving average is $50.03 and its 200-day moving average is $41.84. The company has a market capitalization of $4.72 billion, a P/E ratio of -28.79 and a beta of 1.32.

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.