CG Oncology (NASDAQ:CGON - Get Free Report) posted its quarterly earnings results on Friday. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.05), Zacks reports. CG Oncology had a negative net margin of 15,945.17% and a negative return on equity of 16.71%.
CG Oncology Trading Up 2.1%
NASDAQ:CGON traded up $0.50 on Friday, hitting $24.85. The company had a trading volume of 669,886 shares, compared to its average volume of 999,596. CG Oncology has a 52 week low of $14.80 and a 52 week high of $40.47. The firm has a 50 day moving average of $26.29 and a two-hundred day moving average of $25.68. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of -16.46 and a beta of 0.87.
Analysts Set New Price Targets
Several equities analysts have recently commented on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $75.00 price target on shares of CG Oncology in a report on Monday, April 28th. HC Wainwright reaffirmed a "buy" rating and set a $75.00 price objective on shares of CG Oncology in a research report on Monday, April 28th. Morgan Stanley upped their price objective on shares of CG Oncology from $52.00 to $56.00 and gave the company an "overweight" rating in a research report on Tuesday, June 17th. Wall Street Zen lowered shares of CG Oncology from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Scotiabank started coverage on shares of CG Oncology in a research note on Wednesday, April 16th. They set a "sector perform" rating and a $23.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $55.30.
Check Out Our Latest Research Report on CGON
Insider Transactions at CG Oncology
In other news, Director Leonard E. Post sold 2,000 shares of the stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $28.00, for a total transaction of $56,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 7.40% of the company's stock.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the business. AQR Capital Management LLC bought a new position in shares of CG Oncology during the first quarter valued at about $475,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of CG Oncology by 18.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,522 shares of the company's stock worth $876,000 after purchasing an additional 5,442 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased 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 purchasing an additional 53,461 shares in the last quarter. Finally, Millennium Management LLC grew its stake in CG Oncology by 139.4% during the first quarter. Millennium Management LLC now owns 596,056 shares of the company's stock valued at $14,597,000 after acquiring an additional 347,055 shares in the last quarter. 26.56% of the stock is owned by institutional investors.
CG Oncology Company Profile
(
Get Free Report)
CG Oncology, Inc, an oncolytic immunotherapy company, focuses on developing and commercializing backbone bladder-sparing therapeutics for patients with bladder cancer. The company develops BOND-003 for the treatment of high-risk bacillus calmette guerin (BCG)-unresponsive non-muscle invasive bladder cancer (NMIBC) patients; CORE-001 to treat cretostimogene in combination with pembrolizumab in high-risk BCG-unresponsive NMIBC patients; and CORE-002 for the treatment of cretostimogene in combination with the checkpoint inhibitor nivolumab in muscle invasive bladder cancer patients.
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