FY2029 EPS Estimates for CG Oncology Cut by HC Wainwright

Key Points

• HC Wainwright cut CG Oncology’s FY2029 EPS estimate to $2.34 from $2.43, while maintaining a Buy rating and $100 price target. The firm projects FY2030 EPS of $6.88.
• CG Oncology shares rose 3.4% to open at $74.85, near their 12-month high of $77.00. The stock has a MarketBeat consensus rating of “Moderate Buy” and an average price target of $81.73.
• The company reported a quarterly loss of $0.90 per share, missing the $0.66 consensus estimate, although revenue of $1.16 million exceeded expectations of $0.36 million. Institutional ownership stands at 26.56%, while an insider director purchased roughly $24.8 million of shares.

CG Oncology, Inc. (NASDAQ:CGON - Free Report) - HC Wainwright decreased their FY2029 earnings estimates for CG Oncology in a report issued on Thursday, August 6th. HC Wainwright analyst A. Maldonado now anticipates that the company will post earnings per share of $2.34 for the year, down from their prior forecast of $2.43. HC Wainwright currently has a "Buy" rating and a $100.00 price target on the stock. The consensus estimate for CG Oncology's current full-year earnings is ($2.89) per share. HC Wainwright also issued estimates for CG Oncology's FY2030 earnings at $6.88 EPS.

Other analysts also recently issued reports about the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of CG Oncology in a research report on Friday, July 17th. Wall Street Zen cut CG Oncology from a "hold" rating to a "sell" rating in a research report on Saturday, April 25th. JPMorgan Chase & Co. upped their price objective on CG Oncology from $91.00 to $96.00 and gave the company an "overweight" rating in a research note on Monday, May 11th. Truist Financial reaffirmed a "buy" rating and set a $82.00 target price (up from $77.00) on shares of CG Oncology in a research report on Thursday, May 14th. Finally, Wedbush lifted their target price on CG Oncology from $77.00 to $80.00 and gave the stock an "outperform" rating in a research note on Monday, May 11th. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $81.73.

CG Oncology Stock Up 3.4%

Shares of NASDAQ CGON opened at $74.85 on Friday. CG Oncology has a twelve month low of $23.65 and a twelve month high of $77.00. The stock's 50 day moving average price is $66.86 and its 200-day moving average price is $63.87. The company has a market capitalization of $6.60 billion, a PE ratio of -32.12 and a beta of 0.23.

CG Oncology (NASDAQ:CGON - Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.24). The business had revenue of $1.16 million for the quarter, compared to analyst estimates of $0.36 million.

Insider Buying and Selling at CG Oncology

In other CG Oncology news, Director Leonard E. Post sold 5,000 shares of the business's stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $70.00, for a total value of $350,000.00. Following the sale, the director directly owned 5,000 shares in the company, valued at $350,000. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Brian Guan-Chyun Liu purchased 371,085 shares of the company's stock in a transaction dated Thursday, June 25th. The shares were purchased at an average cost of $66.87 per share, for a total transaction of $24,814,453.95. Following the transaction, the director directly owned 1,886,236 shares in the company, valued at approximately $126,132,601.32. The trade was a 24.49% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 37,129 shares of company stock worth $2,663,817 over the last ninety days. 4.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CG Oncology

Institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp bought a new position in CG Oncology during the second quarter worth about $16,584,000. State of Wyoming bought a new stake in shares of CG Oncology in the second quarter valued at approximately $247,000. Tema ETFs LLC lifted its stake in shares of CG Oncology by 8.8% during the 2nd quarter. Tema ETFs LLC now owns 68,702 shares of the company's stock valued at $4,881,000 after buying an additional 5,539 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in shares of CG Oncology by 5.8% during the 2nd quarter. Handelsbanken Fonder AB now owns 21,900 shares of the company's stock valued at $1,556,000 after buying an additional 1,200 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in CG Oncology by 21.8% in the 1st quarter. Bank of America Corp DE now owns 1,449,364 shares of the company's stock worth $98,093,000 after buying an additional 259,311 shares during the period. 26.56% of the stock is owned by hedge funds and other institutional investors.

CG Oncology Company Profile

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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