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

CG Oncology (NASDAQ:CGON) released its quarterly earnings results on Tuesday. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.06, Briefing.com reports. The firm had revenue of $0.04 million for the quarter, compared to analysts’ expectations of $0.30 million.

CG Oncology Stock Performance

NASDAQ CGON opened at $35.15 on Thursday. The company has a 50-day simple moving average of $36.84 and a two-hundred day simple moving average of $34.80. CG Oncology has a 12-month low of $25.77 and a 12-month high of $50.23.

Insider Buying and Selling at CG Oncology

In other CG Oncology news, Director Hong Fang Song sold 650,455 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $35.36, for a total transaction of $23,000,088.80. Following the completion of the sale, the director now directly owns 586,982 shares in the company, valued at $20,755,683.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CGON shares. Roth Mkm started coverage on shares of CG Oncology in a research report on Tuesday, August 27th. They issued a “buy” rating and a $65.00 target price for the company. HC Wainwright reiterated a “buy” rating and issued a $75.00 target price on shares of CG Oncology in a research report on Tuesday. Royal Bank of Canada started coverage on shares of CG Oncology in a research report on Monday, September 23rd. They issued an “outperform” rating and a $66.00 target price for the company. Roth Capital upgraded shares of CG Oncology to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, Bank of America reiterated a “buy” rating and issued a $65.00 target price on shares of CG Oncology in a research report on Tuesday, October 8th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $63.88.

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.