CG Oncology FY2029 EPS Forecast Lowered by HC Wainwright

CG Oncology, Inc. (NASDAQ:CGON) – Equities research analysts at HC Wainwright dropped their FY2029 earnings per share (EPS) estimates for shares of CG Oncology in a research note issued on Thursday, August 6th. HC Wainwright analyst A. Maldonado now expects that the company will post earnings of $2.34 per share for the year, down from their prior estimate of $2.43. HC Wainwright currently has a “Buy” rating and a $100.00 price target on the stock. The consensus estimate for CG Oncology’s current full-year earnings is ($2.89) per share. HC Wainwright also issued estimates for CG Oncology’s FY2030 earnings at $6.88 EPS.

CG Oncology (NASDAQ:CGON) last issued its earnings results on Friday, August 7th. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.24). The business had revenue of $1.16 million during the quarter, compared to analyst estimates of $0.36 million.

A number of other brokerages also recently issued reports on CGON. Wolfe Research started coverage on shares of CG Oncology in a report on Tuesday, May 19th. They issued a “peer perform” rating on the stock. Royal Bank Of Canada boosted their price objective on shares of CG Oncology from $79.00 to $81.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Wall Street Zen lowered shares of CG Oncology from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. JPMorgan Chase & Co. increased their target price on shares of CG Oncology from $91.00 to $96.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Finally, Wedbush raised their price target on shares of CG Oncology from $77.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Eleven equities research 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 company presently has an average rating of “Moderate Buy” and an average price target of $81.73.

CG Oncology Stock Up 3.4%

CGON stock opened at $74.85 on Friday. The stock has a 50-day simple moving average of $66.86 and a two-hundred day simple moving average of $63.87. CG Oncology has a twelve month low of $23.65 and a twelve month high of $77.00. The firm has a market capitalization of $6.60 billion, a PE ratio of -32.12 and a beta of 0.23.

Insiders Place Their Bets

In other CG Oncology news, Director James Mulay sold 24,165 shares of the firm’s stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $75.16, for a total value of $1,816,241.40. Following the sale, the director owned 24,165 shares of the company’s stock, valued at $1,816,241.40. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Leonard E. Post sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $70.00, for a total transaction of $350,000.00. Following the completion of the transaction, the director owned 5,000 shares in the company, valued at approximately $350,000. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 37,129 shares of company stock worth $2,663,817 in the last ninety days. 4.80% of the stock is currently owned by insiders.

Institutional Trading of CG Oncology

Several institutional investors and hedge funds have recently made changes to their positions in CGON. Wellington Management Group LLP grew its position in CG Oncology by 8.8% in the fourth quarter. Wellington Management Group LLP now owns 5,999,790 shares of the company’s stock worth $249,111,000 after acquiring an additional 487,011 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in CG Oncology by 116.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,443,144 shares of the company’s stock valued at $142,961,000 after purchasing an additional 1,854,386 shares in the last quarter. State Street Corp lifted its stake in CG Oncology by 46.4% during the fourth quarter. State Street Corp now owns 2,996,695 shares of the company’s stock worth $124,423,000 after purchasing an additional 950,028 shares during the last quarter. Alliancebernstein L.P. lifted its stake in CG Oncology by 15.0% during the second quarter. Alliancebernstein L.P. now owns 2,164,214 shares of the company’s stock worth $56,270,000 after purchasing an additional 281,637 shares during the last quarter. Finally, RTW Investments LP boosted its holdings in shares of CG Oncology by 18.3% in the 4th quarter. RTW Investments LP now owns 2,012,127 shares of the company’s stock worth $83,544,000 after purchasing an additional 310,911 shares in the last quarter. 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.