CG Oncology (NASDAQ:CGON) Issues Earnings Results

CG Oncology (NASDAQ:CGON) issued its quarterly earnings data on Tuesday. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.06, Briefing.com reports. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. The business had revenue of $0.04 million during the quarter, compared to the consensus estimate of $0.30 million.

CG Oncology Price Performance

NASDAQ:CGON opened at $34.99 on Friday. The stock’s 50 day simple moving average is $36.80 and its 200-day simple moving average is $34.80. CG Oncology has a 12-month low of $25.77 and a 12-month high of $50.23.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Bank of America reiterated a “buy” rating and set a $65.00 price target on shares of CG Oncology in a research note on Tuesday, October 8th. Royal Bank of Canada began coverage on CG Oncology in a research report on Monday, September 23rd. They set an “outperform” rating and a $66.00 target price on the stock. HC Wainwright reissued a “buy” rating and issued a $75.00 target price on shares of CG Oncology in a research report on Tuesday. UBS Group assumed coverage on CG Oncology in a research note on Thursday, October 24th. They issued a “buy” rating and a $60.00 price objective for the company. Finally, Roth Mkm assumed coverage on CG Oncology in a report on Tuesday, August 27th. They issued a “buy” rating and a $65.00 price objective for the company. Eight research 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, CG Oncology currently has a consensus rating of “Buy” and a consensus price target of $63.88.

Insiders Place Their Bets

In related news, Director Hong Fang Song sold 650,455 shares of the company’s stock in a transaction 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 owns 586,982 shares of the company’s stock, valued at $20,755,683.52. This represents a 52.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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.