Pictet Asset Management Holding SA Cuts Stock Position in CG Oncology, Inc. $CGON

Pictet Asset Management Holding SA lessened its holdings in shares of CG Oncology, Inc. (NASDAQ:CGON) by 70.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 398,005 shares of the company’s stock after selling 951,522 shares during the quarter. Pictet Asset Management Holding SA’s holdings in CG Oncology were worth $26,937,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of CG Oncology in the fourth quarter valued at approximately $27,000. Comerica Bank lifted its holdings in CG Oncology by 100.4% during the 4th quarter. Comerica Bank now owns 1,028 shares of the company’s stock worth $43,000 after buying an additional 515 shares in the last quarter. Picton Mahoney Asset Management purchased a new position in CG Oncology in the 4th quarter valued at approximately $118,000. Mirae Asset Global Investments Co. Ltd. boosted its position in CG Oncology by 33.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,920 shares of the company’s stock valued at $163,000 after buying an additional 972 shares during the period. Finally, Tower Research Capital LLC TRC grew its stake in shares of CG Oncology by 159.2% in the second quarter. Tower Research Capital LLC TRC now owns 6,982 shares of the company’s stock worth $182,000 after acquiring an additional 4,288 shares in the last quarter. Hedge funds and other institutional investors own 26.56% of the company’s stock.

CG Oncology Price Performance

Shares of NASDAQ CGON opened at $70.89 on Thursday. The business has a 50-day moving average of $64.51 and a two-hundred day moving average of $58.75. The company has a market capitalization of $6.25 billion, a price-to-earnings ratio of -30.42 and a beta of 0.21. CG Oncology, Inc. has a 1 year low of $23.65 and a 1 year high of $77.00.

CG Oncology (NASDAQ:CGON) last released its quarterly earnings data on Friday, May 8th. The company reported ($0.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.13). The firm had revenue of $1.08 million during the quarter, compared to analyst estimates of $0.45 million. As a group, equities research analysts expect that CG Oncology, Inc. will post -2.89 earnings per share for the current year.

Insider Transactions at CG Oncology

In other news, Director Leonard E. Post sold 5,000 shares of the company’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $70.00, for a total value of $350,000.00. Following the completion of the transaction, the director owned 5,000 shares in the company, valued at approximately $350,000. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Brian Guan-Chyun Liu bought 371,085 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The stock was bought at an average cost of $66.87 per share, for a total transaction of $24,814,453.95. Following the completion of the transaction, the director directly owned 1,886,236 shares in the company, valued at approximately $126,132,601.32. The trade was a 24.49% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders sold 28,564 shares of company stock worth $1,986,532. 4.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Wall Street Zen cut CG Oncology from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. HC Wainwright reissued a “buy” rating and set a $100.00 target price on shares of CG Oncology in a research note on Monday, May 18th. JPMorgan Chase & Co. increased their price target on CG Oncology from $91.00 to $96.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Wolfe Research began coverage on CG Oncology in a research note on Tuesday, May 19th. They issued a “peer perform” rating for the company. Finally, Wedbush boosted their price objective on CG Oncology from $77.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $81.73.

CG Oncology Profile

CG Oncology, Inc (NASDAQ: CGON) is a clinical-stage biopharmaceutical company focused on the discovery and development of novel antibody-based immunotherapies for the treatment of solid tumor cancers. The company leverages a platform-driven approach to identify and optimize antibody candidates that engage key immune checkpoints and co-stimulatory pathways within the tumor microenvironment. Its pipeline encompasses multiple preclinical programs alongside early-phase clinical trials designed to assess safety, dosing and preliminary anti-tumor activity.

Headquartered in South San Francisco, California, CG Oncology conducts clinical research primarily in the United States, collaborating with leading academic medical centers and contract research organizations to advance its lead candidates.