CG Oncology FY2024 EPS Estimate Increased by HC Wainwright

CG Oncology, Inc. (NASDAQ:CGON) – Investment analysts at HC Wainwright upped their FY2024 EPS estimates for CG Oncology in a note issued to investors on Wednesday, November 13th. HC Wainwright analyst A. Maldonado now expects that the company will earn ($1.33) per share for the year, up from their prior forecast of ($1.54). HC Wainwright currently has a “Buy” rating and a $75.00 target price on the stock. The consensus estimate for CG Oncology’s current full-year earnings is ($1.45) per share. HC Wainwright also issued estimates for CG Oncology’s Q4 2024 earnings at ($0.36) EPS, FY2025 earnings at ($1.94) EPS, FY2026 earnings at ($1.69) EPS, FY2027 earnings at ($1.18) EPS and FY2028 earnings at $0.39 EPS.

A number of other equities research analysts have also recently weighed in on the company. Royal Bank of Canada started coverage on CG Oncology in a research note on Monday, September 23rd. They issued an “outperform” rating and a $66.00 price objective for the company. Roth Capital raised CG Oncology to a “strong-buy” rating in a research report on Tuesday, August 27th. UBS Group initiated coverage on shares of CG Oncology in a research report on Thursday, October 24th. They issued a “buy” rating and a $60.00 price target for the company. Roth Mkm initiated coverage on shares of CG Oncology in a research report on Tuesday, August 27th. They issued a “buy” rating and a $65.00 price target for the company. Finally, Bank of America reaffirmed a “buy” rating and set a $65.00 price target on shares of CG Oncology in a report on Tuesday, October 8th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $63.88.

CG Oncology Stock Down 7.3 %

NASDAQ CGON opened at $32.90 on Friday. CG Oncology has a 12 month low of $25.77 and a 12 month high of $50.23. The firm’s 50-day moving average is $36.70 and its two-hundred day moving average is $34.73.

CG Oncology (NASDAQ:CGON) last issued its earnings results on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.06. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. The company had revenue of $0.04 million for the quarter, compared to the consensus estimate of $0.30 million.

Institutional Investors Weigh In On CG Oncology

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Amalgamated Bank raised its holdings in shares of CG Oncology by 107.6% in the third quarter. Amalgamated Bank now owns 1,621 shares of the company’s stock worth $61,000 after acquiring an additional 840 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in CG Oncology during the first quarter worth approximately $102,000. California State Teachers Retirement System purchased a new stake in CG Oncology in the 1st quarter worth approximately $103,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in CG Oncology in the 3rd quarter worth about $241,000. Finally, Profund Advisors LLC purchased a new stake in CG Oncology in the second quarter valued at approximately $300,000. Hedge funds and other institutional investors own 26.56% of the company’s stock.

Insider Transactions at CG Oncology

In other news, Director Hong Fang Song sold 650,455 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $35.36, for a total value of $23,000,088.80. Following the sale, the director now directly owns 586,982 shares in the company, valued at $20,755,683.52. This represents a 52.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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.