Cantor Fitzgerald Lifts Earnings Estimates for CG Oncology

CG Oncology, Inc. (NASDAQ:CGON) – Investment analysts at Cantor Fitzgerald upped their FY2024 EPS estimates for CG Oncology in a research note issued to investors on Wednesday, November 13th. Cantor Fitzgerald analyst J. Schimmer now expects 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.

A number of other research firms have also issued reports on CGON. HC Wainwright reaffirmed a “buy” rating and issued a $75.00 price target on shares of CG Oncology in a research report on Tuesday, November 12th. Royal Bank of Canada started coverage on shares of CG Oncology in a research note on Monday, September 23rd. They issued an “outperform” rating and a $66.00 price target for the company. UBS Group initiated coverage on shares of CG Oncology in a research report on Thursday, October 24th. They issued a “buy” rating and a $60.00 price objective on the stock. Roth Capital raised shares of CG Oncology to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, Roth Mkm started coverage on shares of CG Oncology in a research note on Tuesday, August 27th. They set a “buy” rating and a $65.00 target price for the company. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $63.88.

CG Oncology Trading Up 1.0 %

NASDAQ:CGON opened at $33.21 on Monday. CG Oncology has a 12-month low of $25.77 and a 12-month high of $50.23. The stock has a fifty day moving average price of $36.61 and a 200 day moving average price of $34.61.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) 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 analysts’ expectations of $0.30 million.

Insider Activity

In other CG Oncology news, Director Hong Fang Song sold 650,455 shares of CG Oncology stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $35.36, for a total value of $23,000,088.80. Following the completion of the sale, 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 Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Investors Weigh In On CG Oncology

Several hedge funds have recently modified their holdings of the stock. Amalgamated Bank increased its stake in CG Oncology by 107.6% during the third quarter. Amalgamated Bank now owns 1,621 shares of the company’s stock worth $61,000 after acquiring an additional 840 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in CG Oncology during the 1st quarter worth approximately $102,000. California State Teachers Retirement System purchased a new position in CG Oncology in the first quarter valued at approximately $103,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in CG Oncology during the third quarter valued at approximately $241,000. Finally, Profund Advisors LLC purchased a new stake in CG Oncology during the second quarter worth approximately $300,000. 26.56% of the stock is owned by institutional investors and hedge funds.

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.