CG Oncology, Inc. (NASDAQ:CGON) Shares Purchased by OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in CG Oncology, Inc. (NASDAQ:CGON) by 16.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,834 shares of the company’s stock after purchasing an additional 1,810 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in CG Oncology were worth $368,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. JPMorgan Chase & Co. increased its stake 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 worth $1,172,000 after buying an additional 11,542 shares during the last quarter. China Universal Asset Management Co. Ltd. bought a new stake in shares of CG Oncology in the 4th quarter worth about $411,000. Vanguard Group Inc. raised its stake in shares of CG Oncology by 15.3% in the 4th quarter. Vanguard Group Inc. now owns 5,861,082 shares of the company’s stock valued at $168,096,000 after purchasing an additional 779,730 shares in the last quarter. Barclays PLC lifted its position in shares of CG Oncology by 331.1% during the third quarter. Barclays PLC now owns 90,520 shares of the company’s stock worth $3,416,000 after purchasing an additional 69,523 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its position in shares of CG Oncology by 16.7% during the fourth quarter. New York State Common Retirement Fund now owns 13,996 shares of the company’s stock worth $401,000 after purchasing an additional 2,000 shares during the last quarter. 26.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CGON shares. Morgan Stanley restated an “overweight” rating and set a $55.00 price objective on shares of CG Oncology in a research note on Friday, March 7th. JPMorgan Chase & Co. started coverage on CG Oncology in a research report on Friday, May 2nd. They set an “overweight” rating and a $41.00 price target on the stock. Scotiabank initiated coverage on shares of CG Oncology in a report on Wednesday, April 16th. They issued a “sector perform” rating and a $23.00 price objective for the company. Royal Bank of Canada increased their target price on shares of CG Oncology from $66.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, April 29th. Finally, HC Wainwright reiterated a “buy” rating and set a $75.00 price objective on shares of CG Oncology in a research note on Monday, April 28th. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $58.56.

CG Oncology Trading Down 0.0%

NASDAQ CGON opened at $24.17 on Thursday. The company has a 50-day moving average price of $23.43 and a two-hundred day moving average price of $28.33. CG Oncology, Inc. has a 52 week low of $14.80 and a 52 week high of $40.47. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of -16.01 and a beta of 1.08.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.09). The business had revenue of $0.05 million during the quarter, compared to the consensus estimate of $0.53 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 research analysts expect that CG Oncology, Inc. will post -1.31 earnings per share for the current fiscal year.

Insider Transactions at CG Oncology

In related news, Director Leonard E. Post sold 1,000 shares of CG Oncology stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $30.76, for a total transaction of $30,760.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 7.40% of the company’s stock.

CG Oncology Company 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.