CG Oncology (NASDAQ:CGON) Releases Earnings Results, Beats Estimates By $0.06 EPS

CG Oncology (NASDAQ:CGON - Get Free Report) released its quarterly earnings results on Tuesday. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.06, Briefing.com reports. The company had revenue of $0.04 million for the quarter, compared to analyst estimates of $0.30 million.

CG Oncology Price Performance

Shares of NASDAQ:CGON traded down $1.83 during trading on Wednesday, reaching $35.15. 404,167 shares of the company's stock traded hands, compared to its average volume of 647,916. CG Oncology has a 12 month low of $25.77 and a 12 month high of $50.23. The company has a 50 day moving average of $36.87 and a 200-day moving average of $34.80.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Roth Mkm started coverage on CG Oncology in a research note on Tuesday, August 27th. They set a "buy" rating and a $65.00 price objective for the company. Royal Bank of Canada initiated 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 for the company. UBS Group assumed coverage on shares of CG Oncology in a report on Thursday, October 24th. They issued a "buy" rating and a $60.00 price target on the stock. Roth Capital raised shares of CG Oncology to a "strong-buy" rating in a report on Tuesday, August 27th. Finally, Bank of America restated a "buy" rating and issued a $65.00 target price on shares of CG Oncology in a research note on Tuesday, October 8th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average 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 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 completion of the transaction, the director now owns 586,982 shares in the company, valued at $20,755,683.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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.