CG Oncology (NASDAQ:CGON) Announces Quarterly Earnings Results, Beats Expectations By $0.19 EPS

CG Oncology (NASDAQ:CGON) issued its earnings results on Friday. The company reported ($0.64) earnings per share for the quarter, beating the consensus estimate of ($0.83) by $0.19, FiscalAI reports. CG Oncology had a negative return on equity of 25.20% and a negative net margin of 3,602.68%. The company had revenue of $1.60 million during the quarter, compared to analysts’ expectations of $0.55 million.

CG Oncology Stock Performance

CGON stock traded up $11.19 on Friday, reaching $75.99. The company’s stock had a trading volume of 3,661,720 shares, compared to its average volume of 883,081. The firm has a market cap of $6.74 billion, a PE ratio of -28.25 and a beta of 0.35. The business has a fifty day simple moving average of $68.23 and a two-hundred day simple moving average of $66.09. CG Oncology has a 12-month low of $35.80 and a 12-month high of $80.97.

Key Headlines Impacting CG Oncology

Here are the key news stories impacting CG Oncology this week:

• Positive Sentiment: CG Oncology reported a third-quarter loss of $0.64 per share, narrower than analysts’ estimates of about $0.83–$0.86 per share. Zacks earnings report
• Positive Sentiment: Revenue was $1.6 million, above the approximately $0.55 million analysts expected, further supporting the favorable market reaction. CG Oncology Gains on Q3 Results
• Neutral Sentiment: The quarterly loss widened from $0.57 per share a year earlier to $0.64, despite beating current estimates. Investors should weigh that ongoing loss against the earnings and revenue surprises. Zacks earnings report

Insider Transactions at CG Oncology

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the company’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $62.06, for a total value of $62,060.00. Following the completion of the transaction, the director directly owned 1,000 shares in the company, valued at approximately $62,060. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 3,000 shares of company stock worth $209,580. 4.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Royal Bank Of Canada decreased their price target on CG Oncology from $81.00 to $79.00 and set an “outperform” rating on the stock in a research note on Friday, August 7th. Wall Street Zen raised CG Oncology from a “strong sell” rating to a “sell” rating in a research note on Saturday. HC Wainwright reissued a “buy” rating and set a $100.00 price objective on shares of CG Oncology in a research note on Wednesday, July 29th. Piper Sandler raised their target price on shares of CG Oncology from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of CG Oncology in a report on Thursday, October 15th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $87.50.

CG Oncology Company Profile

CG Oncology, Inc (NASDAQ: CGON) is a clinical-stage biotechnology company focused on developing therapies for bladder cancer and other cancers affecting the urinary tract. The company is developing medicines designed to stimulate the immune system and target tumor cells within the bladder.

Its lead product candidate is cretostimogene grenadenorep, an investigational intravesical therapy based on an oncolytic adenovirus. The treatment is designed to be administered directly into the bladder, where it may selectively infect cancer cells, promote their destruction and activate an immune response against the tumor.