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

CG Oncology (NASDAQ:CGON) posted its quarterly earnings results 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. The business had revenue of $0.04 million during the quarter, compared to the consensus estimate of $0.30 million.

CG Oncology Trading Up 1.4 %

Shares of CGON traded up $0.50 during trading hours on Wednesday, reaching $37.48. 22,702 shares of the company traded hands, compared to its average volume of 646,037. CG Oncology has a 12 month low of $25.77 and a 12 month high of $50.23. The company’s fifty day moving average price is $36.87 and its two-hundred day moving average price is $34.80.

Wall Street Analysts Forecast Growth

CGON has been the topic of several recent research reports. HC Wainwright restated a “buy” rating and set a $75.00 price target on shares of CG Oncology in a research report on Tuesday. Royal Bank of Canada started coverage on shares of CG Oncology in a report on Monday, September 23rd. They issued an “outperform” rating and a $66.00 target price on the stock. Roth Capital upgraded shares of CG Oncology to a “strong-buy” rating in a report on Tuesday, August 27th. Roth Mkm began coverage on shares of CG Oncology in a research report on Tuesday, August 27th. They set a “buy” rating and a $65.00 price target for the company. Finally, Bank of America restated a “buy” rating and issued a $65.00 price objective on shares of CG Oncology in a research report on Tuesday, October 8th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $63.88.

Insider Buying and Selling

In other news, Director Hong Fang Song sold 650,455 shares of the stock in a transaction that occurred 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 owns 586,982 shares of the company’s stock, valued at approximately $20,755,683.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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.