CG Oncology (NASDAQ:CGON) Posts Quarterly Earnings Results, Misses Expectations By $0.24 EPS

CG Oncology (NASDAQ:CGON) released its earnings results on Friday. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.24), FiscalAI reports. The business had revenue of $1.16 million for the quarter, compared to the consensus estimate of $0.36 million. CG Oncology had a negative return on equity of 26.58% and a negative net margin of 3,602.68%.

CG Oncology Stock Up 0.3%

NASDAQ:CGON traded up $0.25 during mid-day trading on Friday, reaching $75.10. The company’s stock had a trading volume of 610,786 shares, compared to its average volume of 925,978. CG Oncology has a 1 year low of $23.65 and a 1 year high of $77.00. The stock has a fifty day moving average of $67.12 and a 200-day moving average of $63.95. The firm has a market capitalization of $6.62 billion, a PE ratio of -27.92 and a beta of 0.23.

CG Oncology News Summary

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

• Positive Sentiment: Analysts raised price targets: Piper Sandler increased its target from $82 to $85 and assigned an “overweight” rating, implying approximately 13.2% upside. Benzinga
• Positive Sentiment: Truist Financial also raised its target from $82 to $85 and upgraded its view to “buy,” citing a more constructive outlook for CG Oncology. The Fly
• Positive Sentiment: HC Wainwright maintained a “buy” rating and a $100 target. The firm modestly increased its long-term FY2030 EPS forecast to $6.88 from $6.77, reinforcing expectations for significant future earnings growth as the company advances its pipeline. MarketBeat
• Positive Sentiment: CG Oncology reported second-quarter revenue of $1.16 million, substantially above the $0.36 million consensus estimate, while also highlighting pipeline and business progress. CG Oncology Second-Quarter Results
• Neutral Sentiment: Royal Bank of Canada lowered its target from $81 to $79 but retained an “outperform” rating. The reduced target still represents roughly 5.2% potential upside and may reflect valuation calibration rather than a fundamental downgrade. Ticker Report
• Negative Sentiment: CG Oncology reported a quarterly loss of $0.90 per share, wider than the $0.66 consensus loss and the $0.54 loss recorded a year earlier. The earnings shortfall could limit gains despite strong analyst targets. Zacks Q2 Earnings Report
• Negative Sentiment: HC Wainwright reduced its FY2029 EPS estimate from $2.43 to $2.34, signaling some moderation in its intermediate-term earnings outlook, although its buy rating and $100 target remain unchanged.

Insider Buying and Selling at CG Oncology

In other news, Director James Mulay sold 24,165 shares of the business’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $75.16, for a total value of $1,816,241.40. Following the completion of the sale, the director owned 24,165 shares in the company, valued at approximately $1,816,241.40. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Leonard E. Post sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $70.00, for a total transaction of $350,000.00. Following the completion of the sale, the director directly owned 5,000 shares of the company’s stock, valued at $350,000. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 37,129 shares of company stock valued at $2,663,817. Company insiders own 4.80% of the company’s stock.

Institutional Trading of CG Oncology

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its position in CG Oncology by 190.3% during the third quarter. Wellington Management Group LLP now owns 5,512,779 shares of the company’s stock valued at $222,055,000 after purchasing an additional 3,613,885 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in CG Oncology by 116.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,443,144 shares of the company’s stock worth $142,961,000 after purchasing an additional 1,854,386 shares in the last quarter. Bank of America Corp DE lifted its position in shares of CG Oncology by 409.9% during the second quarter. Bank of America Corp DE now owns 1,736,769 shares of the company’s stock valued at $45,156,000 after buying an additional 1,396,170 shares during the last quarter. State Street Corp lifted its position in shares of CG Oncology by 46.4% during the fourth quarter. State Street Corp now owns 2,996,695 shares of the company’s stock valued at $124,423,000 after buying an additional 950,028 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. bought a new stake in shares of CG Oncology in the 4th quarter valued at about $17,547,000. Institutional investors own 26.56% of the company’s stock.

Wall Street Analysts Forecast Growth

CGON has been the subject of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of CG Oncology in a research report on Friday, July 17th. HC Wainwright reaffirmed a “buy” rating and set a $100.00 target price on shares of CG Oncology in a research report on Wednesday, July 29th. Piper Sandler lifted their price target on shares of CG Oncology from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday. Wall Street Zen lowered CG Oncology from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Finally, Wolfe Research initiated coverage on CG Oncology in a research note on Tuesday, May 19th. They issued a “peer perform” rating on the stock. Eleven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, CG Oncology currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.18.

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.