Cantor Fitzgerald Lowers Earnings Estimates for CG Oncology

CG Oncology, Inc. (NASDAQ:CGON) – Equities research analysts at Cantor Fitzgerald cut their FY2025 earnings per share estimates for shares of CG Oncology in a research report issued to clients and investors on Monday, March 31st. Cantor Fitzgerald analyst J. Schimmer now anticipates that the company will post earnings of ($1.78) per share for the year, down from their previous forecast of ($1.52). The consensus estimate for CG Oncology’s current full-year earnings is ($1.31) per share.

CG Oncology (NASDAQ:CGON) last announced its earnings results on Tuesday, March 25th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.11). CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. The business had revenue of $0.46 million for the quarter, compared to analysts’ expectations of $0.11 million.

Several other equities research analysts also recently weighed in on the company. Royal Bank of Canada restated an “outperform” rating and set a $66.00 price target on shares of CG Oncology in a report on Friday, December 6th. HC Wainwright reissued a “buy” rating and set a $75.00 price objective on shares of CG Oncology in a research report on Monday. TD Cowen initiated coverage on shares of CG Oncology in a report on Tuesday, January 7th. They issued a “buy” rating on the stock. Finally, Morgan Stanley reiterated an “overweight” rating and set a $55.00 price target on shares of CG Oncology in a report on Friday, March 7th. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, CG Oncology presently has an average rating of “Buy” and an average price target of $63.88.

CG Oncology Trading Down 10.0 %

CG Oncology stock opened at $22.05 on Wednesday. The firm has a market capitalization of $1.68 billion, a P/E ratio of -15.53 and a beta of 1.60. The stock’s fifty day simple moving average is $27.66 and its 200-day simple moving average is $31.63. CG Oncology has a twelve month low of $21.93 and a twelve month high of $46.99.

Insider Activity

In related news, Director Leonard E. Post sold 1,000 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $29.66, for a total value of $29,660.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hedge Funds Weigh In On CG Oncology

Several hedge funds have recently made changes to their positions in the company. NEOS Investment Management LLC boosted its position in shares of CG Oncology by 10.9% in the 4th quarter. NEOS Investment Management LLC now owns 8,329 shares of the company’s stock valued at $239,000 after purchasing an additional 817 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of CG Oncology by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,080 shares of the company’s stock valued at $862,000 after acquiring an additional 1,026 shares during the period. GF Fund Management CO. LTD. purchased a new position in shares of CG Oncology during the fourth quarter worth approximately $41,000. Rhumbline Advisers grew its position in shares of CG Oncology by 2.2% during the fourth quarter. Rhumbline Advisers now owns 69,016 shares of the company’s stock worth $1,979,000 after acquiring an additional 1,458 shares during the last quarter. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of CG Oncology by 16.4% in the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,834 shares of the company’s stock valued at $368,000 after acquiring an additional 1,810 shares during the period. Hedge funds and other institutional investors own 26.56% of the company’s stock.

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.