CG Oncology (NASDAQ:CGON) Issues Quarterly Earnings Results

CG Oncology (NASDAQ:CGON) issued its quarterly earnings data on Friday. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.10, FiscalAI reports. The business had revenue of $2.32 million for the quarter.

CG Oncology Price Performance

Shares of CGON opened at $58.80 on Friday. The firm has a market cap of $4.74 billion, a P/E ratio of -28.82 and a beta of 1.32. CG Oncology has a 1 year low of $14.80 and a 1 year high of $60.00. The company has a 50 day simple moving average of $50.42 and a two-hundred day simple moving average of $42.08.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CG Oncology in a research note on Wednesday, January 21st. Morgan Stanley set a $93.00 target price on shares of CG Oncology in a report on Friday, January 9th. Truist Financial raised their target price on shares of CG Oncology from $66.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Royal Bank Of Canada lifted their price target on shares of CG Oncology from $61.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $82.00 price objective on shares of CG Oncology in a research note on Monday, January 12th. Eleven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, CG Oncology presently has an average rating of “Moderate Buy” and an average price target of $69.00.

Insider Buying and Selling at CG Oncology

In related news, Director James Mulay sold 11,145 shares of the firm’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $52.47, for a total transaction of $584,778.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC bought a new stake in shares of CG Oncology in the first quarter worth about $475,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of CG Oncology by 18.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,522 shares of the company’s stock worth $876,000 after buying an additional 5,442 shares in the last quarter. Millennium Management LLC raised its position in shares of CG Oncology by 139.4% during the 1st quarter. Millennium Management LLC now owns 596,056 shares of the company’s stock valued at $14,597,000 after buying an additional 347,055 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in CG Oncology by 42.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 179,363 shares of the company’s stock worth $4,393,000 after acquiring an additional 53,461 shares in the last quarter. Finally, CWM LLC raised its position in CG Oncology by 193.5% during the second quarter. CWM LLC now owns 6,193 shares of the company’s stock valued at $161,000 after purchasing an additional 4,083 shares during the period. 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.