Pictet Asset Management Holding SA Invests $19.35 Million in CG Oncology, Inc. (NASDAQ:CGON)

Pictet Asset Management Holding SA bought a new position in CG Oncology, Inc. (NASDAQ:CGON - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 674,607 shares of the company's stock, valued at approximately $19,348,000. Pictet Asset Management Holding SA owned 0.89% of CG Oncology at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of CG Oncology by 15.3% during the 4th quarter. Vanguard Group Inc. now owns 5,861,082 shares of the company's stock worth $168,096,000 after acquiring an additional 779,730 shares during the last quarter. State Street Corp raised its stake in CG Oncology by 73.0% during the 3rd quarter. State Street Corp now owns 1,700,653 shares of the company's stock worth $64,166,000 after acquiring an additional 717,722 shares during the period. Janus Henderson Group PLC lifted its holdings in CG Oncology by 7.0% during the third quarter. Janus Henderson Group PLC now owns 1,526,534 shares of the company's stock valued at $57,596,000 after purchasing an additional 99,517 shares in the last quarter. Franklin Resources Inc. raised its position in shares of CG Oncology by 8.9% during the 3rd quarter. Franklin Resources Inc. now owns 1,230,193 shares of the company's stock valued at $46,157,000 after purchasing an additional 100,106 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of CG Oncology by 96.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,078,527 shares of the company's stock valued at $40,701,000 after buying an additional 528,749 shares in the last quarter. Institutional investors own 26.56% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. HC Wainwright restated a "buy" rating and issued a $75.00 price objective on shares of CG Oncology in a research report on Monday. TD Cowen assumed coverage on shares of CG Oncology in a report on Tuesday, January 7th. They issued a "buy" rating on the stock. Morgan Stanley reaffirmed an "overweight" rating and set a $55.00 price objective on shares of CG Oncology in a report on Friday, March 7th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $66.00 price target on shares of CG Oncology in a report on Friday, December 6th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, CG Oncology presently has a consensus rating of "Buy" and an average price target of $63.88.

CG Oncology Price Performance

CGON traded down $1.77 on Friday, reaching $16.98. 1,241,705 shares of the company's stock were exchanged, compared to its average volume of 707,646. The stock has a market cap of $1.29 billion, a PE ratio of -11.92 and a beta of 1.24. The stock's fifty day moving average price is $27.26 and its 200-day moving average price is $31.48. CG Oncology, Inc. has a twelve month low of $16.64 and a twelve month high of $46.99.

CG Oncology (NASDAQ:CGON - Get Free Report) last issued its quarterly earnings data on Tuesday, March 25th. The company reported ($0.48) earnings per share for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.11). CG Oncology had a negative net margin of 10,642.98% and a negative return on equity of 18.97%. The firm had revenue of $0.46 million during the quarter, compared to analyst estimates of $0.11 million. As a group, research analysts predict that CG Oncology, Inc. will post -1.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Leonard E. Post sold 1,000 shares of the business's stock in a transaction on Monday, January 13th. The shares were sold at an average price of $29.66, for a total value of $29,660.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

CG Oncology 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.