UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 2,503 Shares of CG Oncology, Inc. (NASDAQ:CGON)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in CG Oncology, Inc. (NASDAQ:CGON) by 10.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,122 shares of the company’s stock after selling 2,503 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in CG Oncology were worth $797,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in CG Oncology by 38.4% during the second quarter. Bank of New York Mellon Corp now owns 89,344 shares of the company’s stock valued at $2,821,000 after purchasing an additional 24,801 shares during the period. Rhumbline Advisers raised its holdings in CG Oncology by 13.0% during the 2nd quarter. Rhumbline Advisers now owns 34,229 shares of the company’s stock valued at $1,081,000 after buying an additional 3,940 shares during the period. TD Asset Management Inc purchased a new stake in CG Oncology during the 2nd quarter valued at $2,939,000. Massachusetts Financial Services Co. MA lifted its position in CG Oncology by 2.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 266,787 shares of the company’s stock worth $8,422,000 after buying an additional 6,899 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in CG Oncology by 204.2% during the second quarter. Renaissance Technologies LLC now owns 43,200 shares of the company’s stock worth $1,364,000 after buying an additional 29,000 shares during the period. Hedge funds and other institutional investors own 26.56% of the company’s stock.

Wall Street Analysts Forecast Growth

CGON has been the topic of several recent analyst reports. Bank of America reissued a “buy” rating and issued a $65.00 target price on shares of CG Oncology in a research note on Tuesday, October 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $66.00 price objective on shares of CG Oncology in a research report on Friday, December 6th. Roth Capital upgraded CG Oncology to a “strong-buy” rating in a research report on Tuesday, August 27th. HC Wainwright reiterated a “buy” rating and issued a $75.00 price target on shares of CG Oncology in a report on Friday, December 6th. Finally, Roth Mkm initiated coverage on CG Oncology in a research note on Tuesday, August 27th. They set a “buy” rating and a $65.00 price target for the company. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, CG Oncology has a consensus rating of “Buy” and a consensus target price of $63.88.

CG Oncology Price Performance

Shares of NASDAQ:CGON opened at $28.02 on Friday. The business’s 50 day moving average is $34.87 and its 200 day moving average is $34.82. CG Oncology, Inc. has a 52-week low of $25.77 and a 52-week high of $50.23.

CG Oncology (NASDAQ:CGON) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.06. The business had revenue of $0.04 million for the quarter, compared to the consensus estimate of $0.30 million. CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. On average, sell-side analysts forecast that CG Oncology, Inc. will post -1.32 EPS for the current fiscal year.

Insider Buying and Selling at CG Oncology

In related news, Director Hong Fang Song sold 700,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $28.00, for a total transaction of $19,600,000.00. Following the completion of the sale, the director now directly owns 3,003,931 shares in the company, valued at $84,110,068. This represents a 18.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Leonard E. Post sold 1,000 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $34.54, for a total value of $34,540.00. The disclosure for this sale can be found here.

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.