Cantor Fitzgerald Predicts Weaker Earnings for CG Oncology

CG Oncology, Inc. (NASDAQ:CGON - Free Report) - Equities researchers at Cantor Fitzgerald cut their FY2025 earnings per share estimates for shares of CG Oncology in a report released on Monday, March 31st. Cantor Fitzgerald analyst J. Schimmer now forecasts that the company will earn ($1.78) per share for the year, down from their prior estimate of ($1.52). The consensus estimate for CG Oncology's current full-year earnings is ($1.31) per share.

CG Oncology (NASDAQ:CGON - Get Free Report) last released its earnings results on Tuesday, March 25th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.11). CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. The business had revenue of $0.46 million for the quarter, compared to analysts' expectations of $0.11 million.

CGON has been the subject of a number of other research reports. TD Cowen initiated coverage on shares of CG Oncology in a research report on Tuesday, January 7th. They set a "buy" rating for the company. Morgan Stanley reissued an "overweight" rating and set a $55.00 price objective on shares of CG Oncology in a report on Friday, March 7th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $66.00 target price on shares of CG Oncology in a report on Friday, December 6th. Finally, HC Wainwright reissued a "buy" rating and set a $75.00 price target on shares of CG Oncology in a research note on Monday. Nine investment 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 company has an average rating of "Buy" and an average target price of $63.88.

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CG Oncology Stock Performance

CGON traded down $1.54 during trading on Wednesday, reaching $17.20. 2,148,002 shares of the company traded hands, compared to its average volume of 676,288. The company has a market cap of $1.31 billion, a P/E ratio of -12.11 and a beta of 1.24. CG Oncology has a 12-month low of $16.69 and a 12-month high of $46.99. The firm has a fifty day simple moving average of $27.26 and a 200 day simple moving average of $31.48.

Insider Activity

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the business's stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $29.66, for a total transaction of $29,660.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Institutional Investors Weigh In On CG Oncology

Several institutional investors have recently modified their holdings of CGON. Foresite Capital Management VI LLC bought a new position in shares of CG Oncology during the 4th quarter valued at approximately $63,712,000. Marshall Wace LLP boosted its stake in CG Oncology by 18,836.0% during the fourth quarter. Marshall Wace LLP now owns 1,458,072 shares of the company's stock worth $41,818,000 after buying an additional 1,450,372 shares during the period. Wellington Management Group LLP boosted its stake in CG Oncology by 274.4% during the fourth quarter. Wellington Management Group LLP now owns 1,910,470 shares of the company's stock worth $54,792,000 after buying an additional 1,400,251 shares during the period. Acorn Capital Advisors LLC bought a new position in CG Oncology during the fourth quarter valued at $32,451,000. Finally, Decheng Capital LLC raised its stake in shares of CG Oncology by 16.3% in the fourth quarter. Decheng Capital LLC now owns 6,371,669 shares of the company's stock valued at $182,739,000 after acquiring an additional 892,859 shares during the period. 26.56% of the stock is owned by institutional investors.

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.