CG Oncology (NASDAQ:CGON) Issues Earnings Results

CG Oncology (NASDAQ:CGON) announced its quarterly earnings results on Friday. The company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.12), Zacks reports. The business had revenue of $1.08 million for the quarter, compared to analyst estimates of $0.45 million.

CG Oncology Stock Up 0.6%

CGON opened at $69.62 on Friday. The firm has a 50 day moving average price of $65.66 and a 200-day moving average price of $52.87. CG Oncology has a twelve month low of $23.32 and a twelve month high of $73.56. The stock has a market capitalization of $6.13 billion, a price-to-earnings ratio of -33.63 and a beta of 0.41.

Analysts Set New Price Targets

Several brokerages have issued reports on CGON. Piper Sandler lifted their target price on shares of CG Oncology from $55.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. JPMorgan Chase & Co. lifted their target price on shares of CG Oncology from $65.00 to $91.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. 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 report on Tuesday, February 10th. Morgan Stanley set a $93.00 target price on shares of CG Oncology in a report on Friday, January 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CG Oncology in a report on Monday, April 20th. 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $79.55.

Insider Buying and Selling at CG Oncology

In other news, Director James Mulay sold 15,600 shares of the business’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 completion of the transaction, the director directly owned 15,600 shares of the company’s stock, valued at $1,138,956. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Picton Mahoney Asset Management purchased a new position in shares of CG Oncology during the fourth quarter valued at approximately $118,000. Verition Fund Management LLC purchased a new position in shares of CG Oncology during the third quarter valued at approximately $221,000. CIBC Bancorp USA Inc. purchased a new position in shares of CG Oncology during the third quarter valued at approximately $240,000. Russell Investments Group Ltd. raised its holdings in shares of 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 purchasing an additional 5,641 shares during the last quarter. Finally, LPL Financial LLC raised its holdings in shares of 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 purchasing an additional 551 shares during the last quarter. 26.56% of the stock is owned by hedge funds and other institutional investors.

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.