Lifesci Capital Boosts Earnings Estimates for CG Oncology

CG Oncology, Inc. (NASDAQ:CGON) – Research analysts at Lifesci Capital lifted their FY2024 earnings per share estimates for shares of CG Oncology in a note issued to investors on Tuesday, November 12th. Lifesci Capital analyst S. Slutsky now forecasts that the company will post earnings per share of ($1.41) for the year, up from their prior estimate of ($1.59). The consensus estimate for CG Oncology’s current full-year earnings is ($1.45) per share. Lifesci Capital also issued estimates for CG Oncology’s Q4 2024 earnings at ($0.47) EPS, FY2025 earnings at ($2.34) EPS and FY2026 earnings at ($1.80) EPS.

CG Oncology (NASDAQ:CGON) last issued its quarterly 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. The firm had revenue of $0.04 million for the quarter, compared to analyst estimates of $0.30 million. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%.

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

CG Oncology Trading Down 7.3 %

Shares of NASDAQ:CGON opened at $32.90 on Friday. CG Oncology has a 52-week low of $25.77 and a 52-week high of $50.23. The firm has a fifty day moving average of $36.70 and a 200 day moving average of $34.73.

Insider Buying and Selling at CG Oncology

In other news, Director Hong Fang Song sold 650,455 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $35.36, for a total transaction of $23,000,088.80. Following the transaction, the director now directly owns 586,982 shares of the company’s stock, valued at approximately $20,755,683.52. The trade was a 52.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Trading of CG Oncology

Large investors have recently added to or reduced their stakes in the stock. Amalgamated Bank lifted its position in shares of CG Oncology by 107.6% in the 3rd quarter. Amalgamated Bank now owns 1,621 shares of the company’s stock worth $61,000 after purchasing an additional 840 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in CG Oncology in the first quarter worth about $102,000. California State Teachers Retirement System bought a new stake in CG Oncology during the 1st quarter valued at approximately $103,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of CG Oncology during the 3rd quarter worth approximately $241,000. Finally, Profund Advisors LLC purchased a new position in shares of CG Oncology during the 2nd quarter worth approximately $300,000. Institutional investors own 26.56% of the company’s stock.

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.