CG Oncology (NASDAQ:CGON) Trading Up 5.6% Following Strong Earnings

CG Oncology, Inc. (NASDAQ:CGON)’s stock price shot up 5.6% during trading on Friday following a stronger than expected earnings report. The stock traded as high as $58.70 and last traded at $59.2330. 112,813 shares were traded during trading, a decline of 90% from the average session volume of 1,149,881 shares. The stock had previously closed at $56.11.

The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.10. The business had revenue of $2.32 million during the quarter.

Analyst Upgrades and Downgrades

CGON has been the topic of a number of recent analyst reports. Royal Bank Of Canada raised their target price on CG Oncology from $61.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. The Goldman Sachs Group reaffirmed a “buy” rating and set a $82.00 price objective on shares of CG Oncology in a research note on Monday, January 12th. Piper Sandler boosted their target price on CG Oncology from $55.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Weiss Ratings restated a “sell (d-)” rating on shares of CG Oncology in a report on Wednesday, January 21st. Finally, Morgan Stanley set a $93.00 price objective on CG Oncology in a research report on Friday, January 9th. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, CG Oncology has a consensus rating of “Moderate Buy” and a consensus price target of $68.58.

Insider Buying and Selling at CG Oncology

In other news, Director James Mulay sold 11,145 shares of CG Oncology stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $52.47, for a total value of $584,778.15. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 7.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Whittier Trust Co. of Nevada Inc. bought a new stake in CG Oncology during the 4th quarter worth about $27,000. Strengthening Families & Communities LLC acquired a new stake in shares of CG Oncology in the third quarter valued at about $40,000. Comerica Bank raised its holdings in CG Oncology by 100.4% during the fourth quarter. Comerica Bank now owns 1,028 shares of the company’s stock worth $43,000 after acquiring an additional 515 shares in the last quarter. Winthrop Capital Management LLC acquired a new position in shares of CG Oncology during the 2nd quarter worth approximately $38,000. Finally, Picton Mahoney Asset Management bought a new stake in shares of CG Oncology during the 4th quarter worth approximately $118,000. Institutional investors own 26.56% of the company’s stock.

CG Oncology Stock Performance

The firm has a fifty day moving average price of $50.03 and a 200 day moving average price of $41.84. The company has a market cap of $4.72 billion, a price-to-earnings ratio of -28.79 and a beta of 1.32.

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.