CG Oncology, Inc. $CGON Stock: Pictet Asset Management Holding SA Trims Holdings

Pictet Asset Management Holding SA reduced its holdings in CG Oncology, Inc. (NASDAQ:CGON) by 22.0% in the 3rd quarter, Holdings Channel reports. 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’s holdings in CG Oncology were worth $14,100,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fiduciary Financial Advisors acquired a new position in shares of CG Oncology during the 2nd quarter worth $28,000. NFSG Corp purchased a new position in CG Oncology in the 1st quarter valued at approximately $34,000. Manchester Capital Management LLC boosted its position 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. Covestor Ltd grew its holdings in CG Oncology by 72.6% in the third quarter. Covestor Ltd now owns 770 shares of the company’s stock valued at $55,000 after purchasing an additional 324 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of CG Oncology by 47.9% in the third quarter. GAMMA Investing LLC now owns 1,081 shares of the company’s stock valued at $77,000 after buying an additional 350 shares in the last quarter. Institutional investors and hedge funds own 26.56% of the company’s stock.

CG Oncology Stock Performance

Shares of NASDAQ: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 50-day simple moving average of $68.04 and a 200-day simple moving average of $66.44. The stock has a market capitalization of $6.27 billion, a P/E ratio of -25.42 and a beta of 0.35.

CG Oncology (NASDAQ:CGON) last announced its quarterly earnings results on Friday, November 6th. The company reported ($0.64) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.19. CG Oncology had a negative net margin of 3,851.09% and a negative return on equity of 24.58%. The firm had revenue of $1.60 million during the quarter, compared to analysts’ expectations of $0.55 million. Analysts predict that CG Oncology, Inc. will post -3.00 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on CGON shares. Wall Street Zen raised shares of CG Oncology from a “strong sell” rating to a “sell” rating in a report on Saturday, November 7th. Piper Sandler boosted their price target on CG Oncology from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of CG Oncology in a research note on Thursday, October 15th. Royal Bank Of Canada decreased their target price on shares of CG Oncology from $81.00 to $79.00 and set an “outperform” rating on the stock in a research report on Friday, August 7th. Finally, Truist Financial increased their price target on CG Oncology from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Nine 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $88.11.

Insider Activity at CG Oncology

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $62.06, for a total value of $62,060.00. Following the completion of the transaction, the director owned 1,000 shares in the company, valued at $62,060. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.80% of the company’s stock.

About CG Oncology

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.