FY2024 EPS Estimates for CG Oncology Raised by HC Wainwright

CG Oncology, Inc. (NASDAQ:CGON - Free Report) - Analysts at HC Wainwright increased their FY2024 earnings per share estimates for CG Oncology in a research report issued on Wednesday, November 13th. HC Wainwright analyst A. Maldonado now forecasts that the company will post earnings per share of ($1.33) for the year, up from their prior forecast of ($1.54). HC Wainwright currently has a "Buy" rating and a $75.00 target price on the stock. The consensus estimate for CG Oncology's current full-year earnings is ($1.45) per share. HC Wainwright also issued estimates for CG Oncology's Q4 2024 earnings at ($0.36) EPS, FY2025 earnings at ($1.94) EPS, FY2026 earnings at ($1.69) EPS, FY2027 earnings at ($1.18) EPS and FY2028 earnings at $0.39 EPS.

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

CGON has been the subject of a number of other reports. Roth Capital raised CG Oncology to a "strong-buy" rating in a research report on Tuesday, August 27th. UBS Group assumed coverage on CG Oncology in a research report on Thursday, October 24th. They set a "buy" rating and a $60.00 price target for the company. Bank of America reaffirmed a "buy" rating and set a $65.00 price target on shares of CG Oncology in a research report on Tuesday, October 8th. Royal Bank of Canada initiated coverage on CG Oncology in a research report on Monday, September 23rd. They set an "outperform" rating and a $66.00 price target for the company. Finally, Roth Mkm initiated coverage on CG Oncology in a research report on Tuesday, August 27th. They issued a "buy" rating and a $65.00 target price for the company. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $63.88.

CG Oncology Stock Performance

Shares of CGON traded down $2.60 on Friday, reaching $32.90. 754,729 shares of the company's stock traded hands, compared to its average volume of 648,701. The stock's 50 day simple moving average is $36.70 and its two-hundred day simple moving average is $34.73. CG Oncology has a 52-week low of $25.77 and a 52-week high of $50.23.

Hedge Funds Weigh In On CG Oncology

Several hedge funds have recently made changes to their positions in CGON. Amalgamated Bank boosted its stake in CG Oncology by 107.6% during the third quarter. Amalgamated Bank now owns 1,621 shares of the company's stock valued at $61,000 after buying an additional 840 shares during the period. Ameritas Investment Partners Inc. bought a new stake in CG Oncology during the first quarter valued at $102,000. California State Teachers Retirement System bought a new stake in CG Oncology during the first quarter valued at $103,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in CG Oncology during the third quarter valued at $241,000. Finally, Profund Advisors LLC bought a new stake in CG Oncology during the second quarter valued at $300,000. 26.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Hong Fang Song sold 650,455 shares of CG Oncology 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 in the company, valued at approximately $20,755,683.52. The trade was a 52.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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.