CG Oncology FY2024 EPS Forecast Boosted by Cantor Fitzgerald

CG Oncology, Inc. (NASDAQ:CGON - Free Report) - Equities researchers at Cantor Fitzgerald lifted their FY2024 EPS estimates for CG Oncology in a research note issued to investors on Wednesday, November 13th. Cantor Fitzgerald analyst J. Schimmer now forecasts that the company will post earnings per share of ($1.29) for the year, up from their previous estimate of ($1.32). The consensus estimate for CG Oncology's current full-year earnings is ($1.31) per share.

CGON has been the topic of several other reports. Roth Mkm assumed coverage on CG Oncology in a report on Tuesday, August 27th. They set a "buy" rating and a $65.00 price objective on the stock. Roth Capital upgraded shares of CG Oncology to a "strong-buy" rating in a research 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 issued an "outperform" rating and a $66.00 price objective for the company. HC Wainwright restated a "buy" rating and set a $75.00 price objective on shares of CG Oncology in a research report on Tuesday, November 12th. Finally, 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 price objective on the stock. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $63.88.

CG Oncology Price Performance

Shares of CGON stock traded up $0.31 during trading hours on Monday, hitting $33.21. The stock had a trading volume of 464,561 shares, compared to its average volume of 647,807. CG Oncology has a twelve month low of $25.77 and a twelve month high of $50.23. The stock's 50 day moving average is $36.61 and its 200 day moving average is $34.61.

CG Oncology (NASDAQ:CGON - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.06. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. The company had revenue of $0.04 million during the quarter, compared to analyst estimates of $0.30 million.

Insider Transactions at CG Oncology

In other news, Director Hong Fang Song sold 650,455 shares of the business's stock in a transaction on Thursday, August 29th. The stock was 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Institutional Investors Weigh In On CG Oncology

Several institutional investors have recently modified their holdings of the company. Amalgamated Bank increased its position in shares of CG Oncology by 107.6% during the 3rd quarter. Amalgamated Bank now owns 1,621 shares of the company's stock worth $61,000 after purchasing an additional 840 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in CG Oncology in the 1st quarter worth approximately $102,000. California State Teachers Retirement System bought a new stake in shares of CG Oncology in the 1st quarter worth about $103,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in CG Oncology during the 3rd quarter valued at approximately $241,000. Finally, Profund Advisors LLC acquired a new stake in CG Oncology during the second quarter worth about $300,000. Hedge funds and other 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.