CG Oncology (NASDAQ:CGON) Announces Earnings Results, Beats Estimates By $0.06 EPS

CG Oncology (NASDAQ:CGON) posted its quarterly earnings data on Tuesday. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.06, Briefing.com reports. The company had revenue of $0.04 million for the quarter, compared to analyst estimates of $0.30 million.

CG Oncology Stock Performance

CGON stock traded up $0.53 during mid-day trading on Thursday, hitting $35.68. The stock had a trading volume of 69,579 shares, compared to its average volume of 645,081. CG Oncology has a 1-year low of $25.77 and a 1-year high of $50.23. The company has a fifty day moving average of $36.84 and a 200 day moving average of $34.80.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CGON. UBS Group assumed coverage on shares of CG Oncology in a report on Thursday, October 24th. They set a “buy” rating and a $60.00 price target on the stock. Roth Capital raised shares of CG Oncology to a “strong-buy” rating in a research note on Tuesday, August 27th. HC Wainwright restated a “buy” rating and issued a $75.00 target price on shares of CG Oncology in a report on Tuesday. Royal Bank of Canada began coverage on CG Oncology in a report on Monday, September 23rd. They set an “outperform” rating and a $66.00 price target on the stock. Finally, Roth Mkm started coverage on CG Oncology in a research note on Tuesday, August 27th. They issued a “buy” rating and a $65.00 price objective for the company. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $63.88.

Insider Activity

In related news, Director Hong Fang Song sold 650,455 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $35.36, for a total value of $23,000,088.80. Following the transaction, the director now owns 586,982 shares in the company, valued at approximately $20,755,683.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

About CG Oncology

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.