UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 303,159 Shares of CG Oncology, Inc. $CGON

Key Points

• UBS Asset Management cut its CG Oncology stake by 28.5% in the second quarter, selling 303,159 shares and retaining 761,807 shares valued at approximately $54.1 million. Institutional investors and hedge funds collectively own 26.56% of the company.
• CG Oncology reported a quarterly loss of $0.90 per share, missing analyst expectations of a $0.66 loss, while revenue of $1.16 million exceeded the $0.36 million consensus estimate. Analysts expect a full-year loss of approximately $3.27 per share.
• Despite mixed insider activity and results, Wall Street’s outlook remains favorable: 11 analysts rate the stock a Buy, with a consensus “Moderate Buy” rating and an average price target of $83.18 versus its reported $74.59 share price.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in CG Oncology, Inc. (NASDAQ:CGON - Free Report) by 28.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 761,807 shares of the company's stock after selling 303,159 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.86% of CG Oncology worth $54,126,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the stock. Fiduciary Financial Advisors acquired a new position in CG Oncology during the second quarter worth $28,000. NFSG Corp bought a new stake in shares of CG Oncology during the first quarter worth $34,000. Comerica Bank raised 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 purchasing an additional 515 shares during the last quarter. Fifth Third Bancorp bought a new stake in shares of CG Oncology during the first quarter worth approximately $74,000. Finally, KBC Group NV bought a new position in shares of CG Oncology in the 1st quarter worth $78,000. 26.56% of the stock is owned by institutional investors and hedge funds.

CG Oncology Stock Performance

CGON opened at $74.59 on Thursday. CG Oncology, Inc. has a fifty-two week low of $26.92 and a fifty-two week high of $80.97. The stock has a fifty day moving average of $73.54 and a 200-day moving average of $67.04. The company has a market capitalization of $6.61 billion, a P/E ratio of -27.73 and a beta of 0.24.

CG Oncology (NASDAQ:CGON - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.24). The business had revenue of $1.16 million for the quarter, compared to the consensus estimate of $0.36 million. CG Oncology had a negative return on equity of 25.20% and a negative net margin of 3,602.68%. On average, equities research analysts predict that CG Oncology, Inc. will post -3.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Leonard E. Post sold 1,000 shares of the company's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $74.54, for a total transaction of $74,540.00. Following the completion of the sale, the director owned 1,000 shares of the company's stock, valued at $74,540. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Brian Guan-Chyun Liu purchased 371,085 shares of the business's stock in a transaction dated Thursday, June 25th. The shares were purchased at an average cost of $66.87 per share, with a total value of $24,814,453.95. Following the acquisition, the director owned 1,886,236 shares in the company, valued at $126,132,601.32. This trade represents a 24.49% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 37,129 shares of company stock valued at $2,683,857 over the last quarter. 4.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CGON has been the topic of a number of analyst reports. Wedbush increased their price target on shares of CG Oncology from $77.00 to $80.00 and gave the company an "outperform" rating in a research report on Monday, May 11th. Wall Street Zen downgraded CG Oncology from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. boosted their price objective on shares of CG Oncology from $91.00 to $96.00 and gave the stock an "overweight" rating in a research report on Monday, May 11th. Wolfe Research initiated coverage on CG Oncology in a report on Tuesday, May 19th. They set a "peer perform" rating on the stock. Finally, Truist Financial increased their price target on shares of CG Oncology from $82.00 to $85.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Eleven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $83.18.

About CG Oncology

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.

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