CG Oncology (NASDAQ:CGON) Announces Earnings Results

CG Oncology (NASDAQ:CGON) announced its earnings results on Thursday. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.24), FiscalAI reports. The firm had revenue of $1.16 million during the quarter, compared to analysts’ expectations of $0.36 million. CG Oncology had a negative return on equity of 26.58% and a negative net margin of 3,602.68%.

CG Oncology Trading Up 0.3%

CG Oncology stock traded up $0.25 during midday trading on Friday, hitting $75.10. The stock had a trading volume of 610,786 shares, compared to its average volume of 925,978. CG Oncology has a 52-week low of $23.65 and a 52-week high of $77.00. The company has a market capitalization of $6.62 billion, a PE ratio of -27.92 and a beta of 0.23. The firm’s fifty day moving average is $67.12 and its two-hundred day moving average is $63.95.

Insider Buying and Selling at CG Oncology

In other CG Oncology news, Director James Mulay sold 24,165 shares of the company’s stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $75.16, for a total value of $1,816,241.40. Following the completion of the transaction, the director directly owned 24,165 shares in the company, valued at $1,816,241.40. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Brian Guan-Chyun Liu acquired 371,085 shares of the firm’s stock in a transaction dated Thursday, June 25th. The shares were purchased at an average price of $66.87 per share, for a total transaction of $24,814,453.95. Following the completion of the transaction, the director directly owned 1,886,236 shares in the company, valued at approximately $126,132,601.32. This trade represents a 24.49% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold 37,129 shares of company stock valued at $2,663,817 over the last 90 days. 4.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CG Oncology

Several large investors have recently made changes to their positions in CGON. AQR Capital Management LLC purchased a new stake in shares of CG Oncology during the first quarter worth about $475,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in CG Oncology by 18.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,522 shares of the company’s stock worth $876,000 after purchasing an additional 5,442 shares during the period. Millennium Management LLC boosted its stake in CG Oncology by 139.4% in the 1st quarter. Millennium Management LLC now owns 596,056 shares of the company’s stock worth $14,597,000 after purchasing an additional 347,055 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in CG Oncology by 42.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 179,363 shares of the company’s stock valued at $4,393,000 after buying an additional 53,461 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of CG Oncology by 12.3% during the second quarter. Legal & General Group Plc now owns 44,354 shares of the company’s stock valued at $1,153,000 after buying an additional 4,847 shares during the last quarter. 26.56% of the stock is currently owned by hedge funds and other institutional investors.

More CG Oncology News

Here are the key news stories impacting CG Oncology this week:

• Positive Sentiment: Analysts raised price targets: Piper Sandler increased its target from $82 to $85 and assigned an “overweight” rating, implying approximately 13.2% upside. Benzinga
• Positive Sentiment: Truist Financial also raised its target from $82 to $85 and upgraded its view to “buy,” citing a more constructive outlook for CG Oncology. The Fly
• Positive Sentiment: HC Wainwright maintained a “buy” rating and a $100 target. The firm modestly increased its long-term FY2030 EPS forecast to $6.88 from $6.77, reinforcing expectations for significant future earnings growth as the company advances its pipeline. MarketBeat
• Positive Sentiment: CG Oncology reported second-quarter revenue of $1.16 million, substantially above the $0.36 million consensus estimate, while also highlighting pipeline and business progress. CG Oncology Second-Quarter Results
• Neutral Sentiment: Royal Bank of Canada lowered its target from $81 to $79 but retained an “outperform” rating. The reduced target still represents roughly 5.2% potential upside and may reflect valuation calibration rather than a fundamental downgrade. Ticker Report
• Negative Sentiment: CG Oncology reported a quarterly loss of $0.90 per share, wider than the $0.66 consensus loss and the $0.54 loss recorded a year earlier. The earnings shortfall could limit gains despite strong analyst targets. Zacks Q2 Earnings Report
• Negative Sentiment: HC Wainwright reduced its FY2029 EPS estimate from $2.43 to $2.34, signaling some moderation in its intermediate-term earnings outlook, although its buy rating and $100 target remain unchanged.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Piper Sandler upped their price target on shares of CG Oncology from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday. Wolfe Research started coverage on shares of CG Oncology in a research report on Tuesday, May 19th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. upped their target price on shares of CG Oncology from $91.00 to $96.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Wedbush increased their price target on shares of CG Oncology from $77.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Finally, HC Wainwright reiterated a “buy” rating and set a $100.00 price target on shares of CG Oncology in a research note on Wednesday, July 29th. Eleven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, CG Oncology presently has an average rating of “Moderate Buy” and an average price target of $83.18.

CG Oncology Company Profile

CG Oncology, Inc (NASDAQ: CGON) is a clinical-stage biopharmaceutical company focused on the discovery and development of novel antibody-based immunotherapies for the treatment of solid tumor cancers. The company leverages a platform-driven approach to identify and optimize antibody candidates that engage key immune checkpoints and co-stimulatory pathways within the tumor microenvironment. Its pipeline encompasses multiple preclinical programs alongside early-phase clinical trials designed to assess safety, dosing and preliminary anti-tumor activity.

Headquartered in South San Francisco, California, CG Oncology conducts clinical research primarily in the United States, collaborating with leading academic medical centers and contract research organizations to advance its lead candidates.