Pictet Asset Management Holding SA Buys New Stake in CG Oncology, Inc. (NASDAQ:CGON)

Pictet Asset Management Holding SA purchased a new position in shares of CG Oncology, Inc. (NASDAQ:CGON) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 674,607 shares of the company’s stock, valued at approximately $19,348,000. Pictet Asset Management Holding SA owned 0.89% of CG Oncology as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of CGON. NEOS Investment Management LLC raised its position in CG Oncology by 10.9% during the fourth quarter. NEOS Investment Management LLC now owns 8,329 shares of the company’s stock valued at $239,000 after acquiring an additional 817 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of CG Oncology by 443.5% during the 4th quarter. JPMorgan Chase & Co. now owns 168,866 shares of the company’s stock valued at $4,843,000 after purchasing an additional 137,795 shares in the last quarter. Vanguard Group Inc. boosted its holdings in CG Oncology by 15.3% during the fourth quarter. Vanguard Group Inc. now owns 5,861,082 shares of the company’s stock worth $168,096,000 after buying an additional 779,730 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in CG Oncology during the fourth quarter valued at $100,000. Finally, iA Global Asset Management Inc. purchased a new position in CG Oncology in the fourth quarter valued at $1,316,000. Hedge funds and other institutional investors own 26.56% of the company’s stock.

Analyst Upgrades and Downgrades

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

CG Oncology Trading Down 7.3 %

CGON stock opened at $24.49 on Tuesday. The firm has a 50-day moving average of $27.82 and a two-hundred day moving average of $31.72. CG Oncology, Inc. has a 12 month low of $23.91 and a 12 month high of $46.99. The company has a market cap of $1.86 billion, a price-to-earnings ratio of -17.25 and a beta of 1.60.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings data on Tuesday, March 25th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.11). The company had revenue of $0.46 million for the quarter, compared to analysts’ expectations of $0.11 million. CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. As a group, equities analysts forecast that CG Oncology, Inc. will post -1.31 earnings per share for the current year.

Insider Activity

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the business’s 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

CG Oncology 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.