AMI Asset Management Corp Invests $1 Million in CG Oncology, Inc. $CGON

AMI Asset Management Corp acquired a new position in shares of CG Oncology, Inc. (NASDAQ:CGON) in the 2nd quarter, Holdings Channel reports. The fund acquired 38,479 shares of the company’s stock, valued at approximately $1,000,000.

Other large investors have also recently bought and sold shares of the company. CWM LLC raised its stake in CG Oncology by 3,957.7% in the first quarter. CWM LLC now owns 2,110 shares of the company’s stock valued at $52,000 after buying an additional 2,058 shares during the period. GAMMA Investing LLC increased its stake in shares of CG Oncology by 1,051.0% during the first quarter. GAMMA Investing LLC now owns 2,302 shares of the company’s stock worth $56,000 after purchasing an additional 2,102 shares during the period. KLP Kapitalforvaltning AS increased its stake in shares of CG Oncology by 131.4% during the first quarter. KLP Kapitalforvaltning AS now owns 8,100 shares of the company’s stock worth $198,000 after purchasing an additional 4,600 shares during the period. Federated Hermes Inc. increased its stake in shares of CG Oncology by 41.7% during the first quarter. Federated Hermes Inc. now owns 8,500 shares of the company’s stock worth $208,000 after purchasing an additional 2,500 shares during the period. Finally, Squarepoint Ops LLC bought a new position in shares of CG Oncology during the fourth quarter worth approximately $313,000. 26.56% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at CG Oncology

In other CG Oncology news, Director Leonard E. Post sold 5,000 shares of the stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $40.09, for a total transaction of $200,450.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James Mulay sold 27,015 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $31.53, for a total value of $851,782.95. The disclosure for this sale can be found here. Insiders sold 170,456 shares of company stock valued at $5,308,111 in the last quarter. Insiders own 7.40% of the company’s stock.

CG Oncology Stock Down 2.0%

Shares of CG Oncology stock opened at $39.46 on Thursday. The company has a market cap of $3.01 billion, a PE ratio of -22.29 and a beta of 1.29. CG Oncology, Inc. has a 52 week low of $14.80 and a 52 week high of $40.65. The business has a 50 day moving average price of $30.05 and a 200-day moving average price of $26.57.

CG Oncology (NASDAQ:CGON) last issued its quarterly earnings data 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%. As a group, research analysts anticipate that CG Oncology, Inc. will post -1.31 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on CGON. Piper Sandler began coverage on CG Oncology in a research note on Monday, August 18th. They set an “overweight” rating and a $55.00 price objective on the stock. Jones Trading assumed coverage on CG Oncology in a report on Monday, September 8th. They issued a “buy” rating and a $50.00 target price on the stock. Morgan Stanley raised their price objective on CG Oncology from $56.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, September 17th. Wall Street Zen lowered CG Oncology from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Finally, JPMorgan Chase & Co. upped their price target on CG Oncology from $41.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday, September 26th. One research 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.