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 during the quarter, compared to analyst estimates of $0.45 million.

CG Oncology Price Performance

Shares of NASDAQ:CGON traded up $0.44 during trading on Friday, reaching $69.62. 1,140,311 shares of the company were exchanged, compared to its average volume of 1,236,373. The firm has a market capitalization of $6.13 billion, a PE ratio of -33.63 and a beta of 0.41. The business’s fifty day simple moving average is $65.66 and its 200-day simple moving average is $52.87. CG Oncology has a 12-month low of $23.32 and a 12-month high of $73.56.

Insider Activity at CG Oncology

In other news, Director James Mulay sold 15,600 shares of the firm’s stock in a transaction that occurred 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. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On CG Oncology

Institutional investors have recently modified their holdings of the stock. Picton Mahoney Asset Management purchased a new position in shares of CG Oncology during the fourth quarter worth approximately $118,000. Verition Fund Management LLC purchased a new position in CG Oncology during the third quarter valued at approximately $221,000. CIBC Bancorp USA Inc. purchased a new position in CG Oncology during the third quarter valued at approximately $240,000. Russell Investments Group Ltd. increased its holdings in CG Oncology by 1,180.1% during the third quarter. Russell Investments Group Ltd. now owns 6,119 shares of the company’s stock valued at $246,000 after buying an additional 5,641 shares during the period. Finally, LPL Financial LLC increased its holdings in CG Oncology by 9.8% during 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 during the period. 26.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Piper Sandler increased their target price on CG Oncology from $55.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, January 16th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $82.00 price target on shares of CG Oncology in a report on Monday, January 12th. HC Wainwright raised their price objective on shares of CG Oncology from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, April 7th. JPMorgan Chase & Co. raised their price objective 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. Finally, Truist Financial raised their price objective 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. Eleven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.