CG Oncology FY2024 EPS Estimate Lifted by Cantor Fitzgerald

CG Oncology, Inc. (NASDAQ:CGON) – Research analysts at Cantor Fitzgerald raised their FY2024 earnings per share (EPS) estimates for shares of CG Oncology in a research report issued on Wednesday, November 13th. Cantor Fitzgerald analyst J. Schimmer now forecasts that the company will post earnings of ($1.29) per share for the year, up from their previous forecast of ($1.32). The consensus estimate for CG Oncology’s current full-year earnings is ($1.31) per share.

Several other brokerages also recently issued reports on CGON. HC Wainwright reaffirmed a “buy” rating and set a $75.00 price target on shares of CG Oncology in a report on Tuesday, November 12th. Royal Bank of Canada initiated coverage on shares of CG Oncology in a research report on Monday, September 23rd. They set an “outperform” rating and a $66.00 price objective for the company. Roth Mkm began coverage on CG Oncology in a report on Tuesday, August 27th. They set a “buy” rating and a $65.00 target price for the company. Roth Capital upgraded CG Oncology to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, UBS Group began coverage on CG Oncology in a report on Thursday, October 24th. They set a “buy” rating and a $60.00 target price on the stock. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, CG Oncology currently has a consensus rating of “Buy” and a consensus target price of $63.88.

CG Oncology Stock Performance

Shares of CGON opened at $32.90 on Monday. The company’s fifty day simple moving average is $36.70 and its 200 day simple moving average is $34.65. CG Oncology has a 1-year low of $25.77 and a 1-year high of $50.23.

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

Insider Transactions at CG Oncology

In related 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 completion of the transaction, the director now owns 586,982 shares of the company’s stock, valued at $20,755,683.52. This represents a 52.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Institutional Trading of CG Oncology

A number of hedge funds and other institutional investors have recently modified their holdings of CGON. Amalgamated Bank boosted its holdings in shares of CG Oncology by 107.6% during the 3rd quarter. Amalgamated Bank now owns 1,621 shares of the company’s stock valued at $61,000 after acquiring an additional 840 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of CG Oncology during the first quarter valued at about $102,000. California State Teachers Retirement System bought a new stake in shares of CG Oncology during the first quarter worth about $103,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of CG Oncology in the third quarter valued at approximately $241,000. Finally, Profund Advisors LLC acquired a new stake in CG Oncology during the 2nd quarter worth approximately $300,000. Institutional investors own 26.56% of the company’s stock.

CG Oncology Company Profile

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.