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

CG Oncology (NASDAQ:CGON) issued its earnings results on Tuesday. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.06, Briefing.com reports. The business had revenue of $0.04 million for the quarter, compared to the consensus estimate of $0.30 million.

CG Oncology Stock Down 6.8 %

Shares of CGON opened at $36.98 on Wednesday. CG Oncology has a 12 month low of $25.77 and a 12 month high of $50.23. The firm’s 50 day moving average is $36.87 and its 200-day moving average is $34.80.

Insider Activity at CG Oncology

In other CG Oncology news, Director Hong Fang Song sold 650,455 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $35.36, for a total transaction of $23,000,088.80. Following the transaction, the director now owns 586,982 shares in the company, valued at $20,755,683.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Roth Capital raised CG Oncology to a “strong-buy” rating in a report on Tuesday, August 27th. Roth Mkm started coverage on shares of CG Oncology in a report on Tuesday, August 27th. They set a “buy” rating and a $65.00 target price for the company. Royal Bank of Canada initiated coverage on shares of CG Oncology in a report on Monday, September 23rd. They issued an “outperform” rating and a $66.00 price target on the stock. Bank of America restated a “buy” rating and set a $65.00 price objective on shares of CG Oncology in a research report on Tuesday, October 8th. Finally, UBS Group assumed coverage on CG Oncology in a research note on Thursday, October 24th. They set a “buy” rating and a $60.00 target price on the stock. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $63.88.

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.