Cantor Fitzgerald Expects Lower Earnings for CG Oncology

CG Oncology, Inc. (NASDAQ:CGON) – Equities research analysts at Cantor Fitzgerald dropped their FY2025 earnings per share (EPS) estimates for CG Oncology in a research note issued 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 prior estimate of ($1.52). The consensus estimate for CG Oncology’s current full-year earnings is ($1.31) per share.

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

A number of other brokerages have also recently commented on CGON. HC Wainwright reaffirmed a “buy” rating and issued a $75.00 target price on shares of CG Oncology in a report on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $66.00 price objective on shares of CG Oncology in a research note on Friday, December 6th. TD Cowen assumed coverage on CG Oncology in a research report on Tuesday, January 7th. They set a “buy” rating for the company. Finally, Morgan Stanley reissued an “overweight” rating and issued a $55.00 target price on shares of CG Oncology in a report on Friday, March 7th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, CG Oncology currently has a consensus rating of “Buy” and an average target price of $63.88.

CG Oncology Price Performance

Shares of NASDAQ:CGON opened at $22.24 on Wednesday. CG Oncology has a 1-year low of $21.61 and a 1-year high of $46.99. The stock has a market cap of $1.69 billion, a P/E ratio of -15.66 and a beta of 1.60. The firm has a fifty day moving average price of $27.50 and a 200 day moving average price of $31.57.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in shares of CG Oncology by 73.0% during the 3rd quarter. State Street Corp now owns 1,700,653 shares of the company’s stock worth $64,166,000 after acquiring an additional 717,722 shares in the last quarter. BNP Paribas Financial Markets boosted its position in CG Oncology by 876.9% during the third quarter. BNP Paribas Financial Markets now owns 26,660 shares of the company’s stock worth $1,006,000 after purchasing an additional 23,931 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in CG Oncology by 114.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 379,664 shares of the company’s stock valued at $14,325,000 after purchasing an additional 202,262 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of CG Oncology by 59.1% in the third quarter. JPMorgan Chase & Co. now owns 31,071 shares of the company’s stock valued at $1,172,000 after buying an additional 11,542 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. acquired a new position in shares of CG Oncology during the 4th quarter worth $411,000. 26.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at CG Oncology

In other news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is accessible through this link.

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.