CG Oncology (NASDAQ:CGON) Releases Earnings Results, Beats Estimates By $0.10 EPS

CG Oncology (NASDAQ:CGON) announced its quarterly earnings data on Friday. The company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.61) by $0.10, FiscalAI reports. The firm had revenue of $2.32 million for the quarter.

CG Oncology Stock Up 4.8%

Shares of NASDAQ CGON opened at $58.80 on Friday. The firm’s fifty day moving average is $50.42 and its 200 day moving average is $42.20. CG Oncology has a 52 week low of $14.80 and a 52 week high of $60.00. The company has a market cap of $4.74 billion, a price-to-earnings ratio of -28.41 and a beta of 1.32.

Insider Transactions at CG Oncology

In other news, Director James Mulay sold 11,145 shares of the company’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $52.47, for a total transaction of $584,778.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CGON. Candriam S.C.A. grew its stake in CG Oncology by 35.9% in the third quarter. Candriam S.C.A. now owns 1,037,892 shares of the company’s stock worth $41,806,000 after purchasing an additional 274,312 shares during the period. Voya Investment Management LLC boosted its holdings in shares of CG Oncology by 217.6% during the 3rd quarter. Voya Investment Management LLC now owns 47,986 shares of the company’s stock valued at $1,933,000 after buying an additional 32,877 shares in the last quarter. CWM LLC boosted its holdings in shares of CG Oncology by 193.5% during the 2nd quarter. CWM LLC now owns 6,193 shares of the company’s stock valued at $161,000 after buying an additional 4,083 shares in the last quarter. Tejara Capital Ltd purchased a new stake in shares of CG Oncology in the 2nd quarter worth about $944,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of CG Oncology in the 2nd quarter worth about $676,000. Hedge funds and other institutional investors own 26.56% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. HC Wainwright upped their target price on CG Oncology from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday. Weiss Ratings restated a “sell (d-)” rating on shares of CG Oncology in a report on Wednesday, January 21st. Royal Bank Of Canada increased their target price on shares of CG Oncology from $61.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. 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 report on Tuesday, February 10th. Finally, Wedbush initiated coverage on shares of CG Oncology in a research note on Thursday, December 11th. They issued an “outperform” rating and a $70.00 price target for the company. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $69.00.

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.