UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Holdings in CG Oncology, Inc. (NASDAQ:CGON)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 496.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 125,902 shares of the company's stock after buying an additional 104,780 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.17% of CG Oncology worth $3,611,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CGON. Mirae Asset Global Investments Co. Ltd. purchased a new stake in CG Oncology during the 4th quarter valued at about $68,000. KLP Kapitalforvaltning AS acquired a new stake in shares of CG Oncology during the fourth quarter worth about $100,000. Federated Hermes Inc. acquired a new stake in shares of CG Oncology during the fourth quarter worth about $172,000. Meeder Asset Management Inc. purchased a new stake in CG Oncology in the fourth quarter valued at approximately $189,000. Finally, NEOS Investment Management LLC increased its holdings in CG Oncology by 10.9% in the 4th quarter. NEOS Investment Management LLC now owns 8,329 shares of the company's stock worth $239,000 after buying an additional 817 shares during the period. 26.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on CGON. Morgan Stanley decreased their price objective on shares of CG Oncology from $55.00 to $52.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Scotiabank initiated coverage on shares of CG Oncology in a research report on Wednesday, April 16th. They set a "sector perform" rating and a $23.00 target price for the company. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $75.00 price target on shares of CG Oncology in a report on Monday, April 28th. Royal Bank of Canada increased their price target on CG Oncology from $66.00 to $68.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. assumed coverage on CG Oncology in a report on Friday, May 2nd. They issued an "overweight" rating and a $41.00 price objective for the company. 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 company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $58.22.

CG Oncology Trading Up 1.1%

CGON traded up $0.28 on Friday, reaching $26.91. The stock had a trading volume of 1,012,306 shares, compared to its average volume of 829,618. The business's 50-day moving average price is $23.19 and its two-hundred day moving average price is $27.04. The company has a market cap of $2.05 billion, a P/E ratio of -17.82 and a beta of 0.86. CG Oncology, Inc. has a 12-month low of $14.80 and a 12-month high of $40.47.

CG Oncology (NASDAQ:CGON - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.09). The business had revenue of $0.05 million during the quarter, compared to analysts' expectations of $0.53 million. CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. As a group, analysts predict that CG Oncology, Inc. will post -1.31 earnings per share for the current year.

Insiders Place Their Bets

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the stock in a transaction that occurred on Monday, April 28th. The stock was 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 Securities & Exchange Commission, which is available at this hyperlink. 7.40% of the stock is owned by company insiders.

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.