CG Oncology (NASDAQ:CGON) Announces Quarterly Earnings Results

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

CG Oncology Stock Up 1.4 %

CGON stock traded up $0.50 during mid-day trading on Wednesday, reaching $37.48. 22,702 shares of the company traded hands, compared to its average volume of 646,037. CG Oncology has a 52-week low of $25.77 and a 52-week high of $50.23. The company has a fifty day moving average price of $36.87 and a 200-day moving average price of $34.80.

Analysts Set New Price Targets

CGON has been the subject of a number of analyst reports. Roth Capital raised CG Oncology to a “strong-buy” rating in a research report on Tuesday, August 27th. HC Wainwright reissued a “buy” rating and set a $75.00 price target on shares of CG Oncology in a research report on Tuesday. Bank of America restated a “buy” rating and set a $65.00 price target on shares of CG Oncology in a report on Tuesday, October 8th. Royal Bank of Canada started coverage on shares of CG Oncology in a research note on Monday, September 23rd. They issued an “outperform” rating and a $66.00 price objective for the company. Finally, UBS Group began coverage on CG Oncology in a research note on Thursday, October 24th. They issued a “buy” rating and a $60.00 target price on the stock. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $63.88.

Insider Activity at CG Oncology

In other news, Director Hong Fang Song sold 650,455 shares of the company’s stock in a transaction 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 transaction, the director now owns 586,982 shares of the company’s stock, 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 document filed with the SEC, which can be accessed 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.