AMI Asset Management Corp Purchases New Stake in CG Oncology, Inc. $CGON

AMI Asset Management Corp purchased a new stake in shares of CG Oncology, Inc. (NASDAQ:CGON) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 38,479 shares of the company’s stock, valued at approximately $1,000,000. AMI Asset Management Corp owned approximately 0.05% of CG Oncology at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Millennium Management LLC grew its stake in CG Oncology by 139.4% during the 1st quarter. Millennium Management LLC now owns 596,056 shares of the company’s stock worth $14,597,000 after buying an additional 347,055 shares during the last quarter. Wellington Management Group LLP grew its stake in CG Oncology by 11.2% during the 1st quarter. Wellington Management Group LLP now owns 2,125,208 shares of the company’s stock worth $52,046,000 after buying an additional 214,738 shares during the last quarter. Nuveen LLC bought a new position in CG Oncology during the 1st quarter worth $4,084,000. Woodline Partners LP grew its stake in CG Oncology by 21.5% during the 1st quarter. Woodline Partners LP now owns 764,357 shares of the company’s stock worth $18,719,000 after buying an additional 135,472 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of CG Oncology by 496.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 125,902 shares of the company’s stock worth $3,611,000 after purchasing an additional 104,780 shares in the last quarter. 26.56% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Leonard E. Post sold 2,000 shares of the business’s stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $28.00, for a total transaction of $56,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian Guan-Chyun Liu bought 1,515,151 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were purchased at an average price of $33.00 per share, with a total value of $49,999,983.00. Following the transaction, the director owned 1,515,151 shares of the company’s stock, valued at $49,999,983. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 170,456 shares of company stock worth $5,308,111 over the last quarter. Corporate insiders own 7.40% of the company’s stock.

CG Oncology Stock Down 2.0%

Shares of NASDAQ CGON opened at $39.46 on Thursday. The business’s 50 day moving average is $30.05 and its two-hundred day moving average is $26.57. The company has a market cap of $3.01 billion, a P/E ratio of -22.29 and a beta of 1.29. CG Oncology, Inc. has a 12 month low of $14.80 and a 12 month high of $40.65.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings results on Friday, August 8th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.05). CG Oncology had a negative return on equity of 19.37% and a negative net margin of 15,945.17%. Sell-side analysts expect that CG Oncology, Inc. will post -1.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on CGON. Royal Bank Of Canada lowered their price target on CG Oncology from $68.00 to $53.00 and set an “outperform” rating on the stock in a report on Wednesday, July 16th. Zacks Research upgraded CG Oncology from a “strong sell” rating to a “hold” rating in a research report on Monday, September 1st. Jones Trading started coverage on CG Oncology in a research report on Monday, September 8th. They issued a “buy” rating and a $50.00 price target for the company. HC Wainwright reissued a “buy” rating and issued a $75.00 price objective on shares of CG Oncology in a research note on Monday, September 15th. Finally, Piper Sandler began coverage on CG Oncology in a research note on Monday, August 18th. They issued an “overweight” rating and a $55.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, CG Oncology presently has an average rating of “Moderate Buy” and an average price target of $56.55.

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.