CG Oncology (NASDAQ:CGON) Announces Quarterly Earnings Results

Key Points

• CG Oncology reported quarterly EPS of ($0.71), missing analyst expectations of ($0.58) by $0.13, even though revenue came in above forecasts at $1.08 million versus $0.45 million expected.
• The stock was up 0.6% in midday trading to $69.62, near its recent range with a 52-week high of $73.56 and a market value of about $6.13 billion.
• Analyst sentiment remains broadly positive: the company has 11 Buy ratings, one Hold, and one Sell, with a consensus Moderate Buy and an average price target of $79.55.

CG Oncology (NASDAQ:CGON - Get Free Report) posted its quarterly earnings data on Friday. The company reported ($0.71) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.13), Zacks reports. The business had revenue of $1.08 million during the quarter, compared to analyst estimates of $0.45 million.

CG Oncology Stock Up 0.6%

CGON traded up $0.44 during mid-day trading on Friday, reaching $69.62. 1,140,311 shares of the company traded hands, compared to its average volume of 1,236,373. The stock has a market capitalization of $6.13 billion, a P/E ratio of -33.63 and a beta of 0.41. The company's fifty day moving average price is $65.66 and its 200-day moving average price is $52.87. CG Oncology has a 52-week low of $23.32 and a 52-week high of $73.56.

Analyst Ratings Changes

Several analysts have weighed in on CGON shares. Piper Sandler lifted their price objective on CG Oncology from $55.00 to $70.00 and gave the company an "overweight" rating in a research report on Friday, January 16th. Weiss Ratings reissued a "sell (d-)" rating on shares of CG Oncology in a research report on Monday, April 20th. Truist Financial boosted their price target on CG Oncology from $66.00 to $75.00 and gave the stock a "buy" rating in a research report on Tuesday, February 10th. Royal Bank Of Canada boosted their price objective on shares of CG Oncology from $73.00 to $79.00 and gave the stock an "outperform" rating in a report on Monday, April 27th. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $82.00 price objective on shares of CG Oncology in a report on Monday, January 12th. Eleven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $79.55.

Insiders Place Their Bets

In other news, Director James Mulay sold 15,600 shares of the company's stock in a transaction on Friday, April 17th. The stock was sold at an average price of $73.01, for a total value of $1,138,956.00. Following the completion of the sale, the director directly owned 15,600 shares in the company, valued at $1,138,956. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 4.80% of the company's stock.

Institutional Trading of CG Oncology

Several hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP grew its holdings in CG Oncology by 8.8% during the fourth quarter. Wellington Management Group LLP now owns 5,999,790 shares of the company's stock valued at $249,111,000 after purchasing an additional 487,011 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in CG Oncology by 116.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,443,144 shares of the company's stock valued at $142,961,000 after purchasing an additional 1,854,386 shares during the period. State Street Corp grew its holdings in 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 purchasing an additional 950,028 shares during the period. Alliancebernstein L.P. grew its holdings in CG Oncology by 15.0% during the second quarter. Alliancebernstein L.P. now owns 2,164,214 shares of the company's stock valued at $56,270,000 after purchasing an additional 281,637 shares during the period. Finally, RTW Investments LP grew its holdings in CG Oncology by 18.3% during the fourth quarter. RTW Investments LP now owns 2,012,127 shares of the company's stock valued at $83,544,000 after purchasing an additional 310,911 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.

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