CG Oncology, Inc. $CGON Stock Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its holdings in CG Oncology, Inc. (NASDAQ:CGON) by 22.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,903 shares of the company’s stock after selling 56,156 shares during the quarter. Pictet Asset Management Holding SA owned about 0.22% of CG Oncology worth $14,100,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CGON. Alps Advisors Inc. boosted its holdings in CG Oncology by 31.7% in the 3rd quarter. Alps Advisors Inc. now owns 117,456 shares of the company’s stock valued at $8,326,000 after purchasing an additional 28,238 shares during the last quarter. Covestor Ltd raised its stake in shares of CG Oncology by 72.6% in the 3rd quarter. Covestor Ltd now owns 770 shares of the company’s stock valued at $55,000 after acquiring an additional 324 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of CG Oncology during the 3rd quarter worth approximately $321,000. China Universal Asset Management Co. Ltd. raised its position in CG Oncology by 15.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 16,173 shares of the company’s stock valued at $1,141,000 after purchasing an additional 2,136 shares during the period. Finally, Manchester Capital Management LLC lifted its stake in CG Oncology by 2,895.5% during the third quarter. Manchester Capital Management LLC now owns 659 shares of the company’s stock worth $47,000 after purchasing an additional 637 shares in the last quarter. Hedge funds and other institutional investors own 26.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CGON shares. Truist Financial boosted their price target on shares of CG Oncology from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Piper Sandler upped their price objective on CG Oncology from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Wedbush lifted their target price on CG Oncology from $80.00 to $84.00 and gave the company an “outperform” rating in a report on Friday, November 6th. Royal Bank Of Canada decreased their price objective on CG Oncology from $81.00 to $79.00 and set an “outperform” rating for the company in a research note on Friday, August 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of CG Oncology in a research report on Thursday, October 15th. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $88.11.

CG Oncology Price Performance

Shares of CGON opened at $70.15 on Friday. CG Oncology, Inc. has a 1-year low of $37.01 and a 1-year high of $80.97. The stock has a market cap of $6.27 billion, a PE ratio of -25.42 and a beta of 0.35. The firm has a fifty day moving average price of $68.04 and a 200 day moving average price of $66.44.

CG Oncology (NASDAQ:CGON) last posted its earnings results on Friday, November 6th. The company reported ($0.64) EPS for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.19. The business had revenue of $1.60 million for the quarter, compared to analysts’ expectations of $0.55 million. CG Oncology had a negative return on equity of 24.58% and a negative net margin of 3,851.09%. As a group, equities analysts expect that CG Oncology, Inc. will post -3.00 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Leonard E. Post sold 1,000 shares of the firm’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $62.06, for a total transaction of $62,060.00. Following the transaction, the director owned 1,000 shares of the company’s stock, valued at $62,060. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 4.80% of the company’s stock.

CG Oncology Company Profile

CG Oncology is a clinical-stage biotechnology company focused on developing treatments for bladder cancer. Based in Irvine, California, the company’s research centers on therapies delivered directly into the bladder. Its lead investigational therapy, cretostimogene grenadenorepvec (formerly CG0070), is an oncolytic immunotherapy being developed for non-muscle-invasive bladder cancer, including disease that has not responded to Bacillus Calmette-Guérin (BCG) treatment. The modified virus is designed to target cancer cells and stimulate an immune response.