CG Oncology (NASDAQ:CGON) Issues Quarterly Earnings Results, Beats Expectations By $0.06 EPS

CG Oncology (NASDAQ:CGON) released its quarterly earnings data on Tuesday. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.06, Briefing.com reports. The firm had revenue of $0.04 million during the quarter, compared to analysts’ expectations of $0.30 million.

CG Oncology Trading Up 1.0 %

CGON stock traded up $0.35 during midday trading on Thursday, reaching $35.50. The stock had a trading volume of 701,800 shares, compared to its average volume of 648,180. CG Oncology has a 52-week low of $25.77 and a 52-week high of $50.23. The company’s fifty day simple moving average is $36.80 and its 200 day simple moving average is $34.80.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CGON shares. Roth Mkm began coverage on CG Oncology in a research report on Tuesday, August 27th. They set a “buy” rating and a $65.00 target price on the stock. UBS Group assumed coverage on CG Oncology in a research report on Thursday, October 24th. They issued a “buy” rating and a $60.00 price objective for the company. Roth Capital upgraded CG Oncology to a “strong-buy” rating in a research report on Tuesday, August 27th. HC Wainwright reissued a “buy” rating and issued a $75.00 price target on shares of CG Oncology in a report on Tuesday. Finally, Royal Bank of Canada initiated coverage on shares of CG Oncology in a research report on Monday, September 23rd. They set an “outperform” rating and a $66.00 price objective for the company. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $63.88.

Insider Transactions at CG Oncology

In other news, Director Hong Fang Song sold 650,455 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $35.36, for a total transaction of $23,000,088.80. Following the transaction, the director now directly owns 586,982 shares in the company, valued at $20,755,683.52. The trade was a 52.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

CG Oncology Company Profile

CG Oncology, Inc, an oncolytic immunotherapy company, focuses on developing and commercializing backbone bladder-sparing therapeutics for patients with bladder cancer. The company develops BOND-003 for the treatment of high-risk bacillus calmette guerin (BCG)-unresponsive non-muscle invasive bladder cancer (NMIBC) patients; CORE-001 to treat cretostimogene in combination with pembrolizumab in high-risk BCG-unresponsive NMIBC patients; and CORE-002 for the treatment of cretostimogene in combination with the checkpoint inhibitor nivolumab in muscle invasive bladder cancer patients.