CG Oncology (NASDAQ:CGON) Issues Earnings Results

CG Oncology (NASDAQ:CGON) announced its earnings results on Friday. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.61) by $0.10, FiscalAI reports. The business had revenue of $2.32 million for the quarter.

CG Oncology Stock Performance

Shares of NASDAQ CGON traded up $2.69 during trading on Friday, reaching $58.80. The stock had a trading volume of 1,062,863 shares, compared to its average volume of 1,174,230. The company 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 fifty-two week low of $14.80 and a fifty-two week high of $60.00. The business’s 50-day moving average price is $50.03 and its 200-day moving average price is $41.84.

Insider Buying and Selling

In related news, Director James Mulay sold 11,145 shares of the firm’s stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $52.47, for a total transaction of $584,778.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.40% of the stock is owned by company insiders.

Institutional Trading of CG Oncology

Several hedge funds have recently made changes to their positions in CGON. AQR Capital Management LLC acquired a new position in shares of CG Oncology in the first quarter valued at approximately $475,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in CG Oncology by 18.1% during 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 boosted its position in CG Oncology by 139.4% in 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 during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of 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 increased its position in shares of CG Oncology by 193.5% during the second quarter. CWM LLC now owns 6,193 shares of the company’s stock worth $161,000 after acquiring an additional 4,083 shares during the period. Institutional investors and hedge funds own 26.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CGON. Truist Financial boosted their price target on shares of CG Oncology from $66.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. Piper Sandler boosted their target price on shares of CG Oncology from $55.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, January 16th. Royal Bank Of Canada increased their price target on shares of CG Oncology from $61.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Wedbush started coverage on shares of CG Oncology in a research report on Thursday, December 11th. They set an “outperform” rating and a $70.00 price target on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of CG Oncology in a report on Wednesday, January 21st. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, CG Oncology has an average rating of “Moderate Buy” and an average target price of $69.00.

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.