Farallon Capital Management Adds $47M in CG Oncology, Inc. ($CGON)
Farallon Capital Management boosted its position in CG Oncology by 8325%, adding 666,000 shares.
Key Points
- Farallon Capital Management increased its stake in CG Oncology by 8325%, adding 666,000 shares for a total of 674,000 shares valued at $44.65 million.
- CG Oncology shares traded near $66.25 on Tuesday with a market cap of $5.84 billion and a 52-week range of $23.65 to $75.50.
- Analysts from firms like Truist Securities and JP Morgan maintain a 'buy' rating, with price targets ranging from $77 to $100.
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Farallon Capital Management has made a substantial increase in its holdings of CG Oncology, Inc. (NasdaqGS: CGON). According to its latest filing with the SEC, the firm boosted its stake by 8325%, adding 666,000 shares during the reporting period. This brings its total ownership to 674,000 shares, valued at approximately $44.65 million.
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What Changed in Farallon Capital Management's CG Oncology Position
Farallon Capital Management's decision to increase its stake in CG Oncology is notable. The firm previously held just 8,000 shares and has now expanded its position to 674,000 shares, a dramatic change reflecting an 8325% increase. This significant addition is valued at $44.65 million, indicating strong confidence in the biotechnology company.
Other Institutional Activity in CG Oncology
Other major institutional investors have also been active in CG Oncology. RTW Investments, LP grew its holdings by 4,972,681 shares, ending with 6,984,808 shares worth about $472.73 million, marking a 247.1% increase. T. Rowe Price Investment Management, Inc. added 6,297,797 shares, now holding 6,720,389 shares valued at $454.84 million, a 1490.3% increase. Decheng Capital LLC maintained its position with no change, holding 6,371,669 shares valued at $431.23 million. Meanwhile, Wellington Management Group LLP reduced its holdings by 628,558 shares, now holding 5,371,232 shares worth $363.52 million, a 10.5% decrease. BlackRock, Inc. increased its position by 220,938 shares, totaling 5,064,180 shares valued at $342.74 million, a 4.6% increase.
CG Oncology, Inc. Stock Down 4.4%
Shares of CG Oncology, Inc. traded near $66.25 on Tuesday. The company has a market capitalization of approximately $5.84 billion. While it doesn't have a meaningful P/E ratio due to being unprofitable, the stock's forward P/E is -23.84. CG Oncology has shown a 52-week low of $23.65 and a high of $75.50. Its 50-day moving average is $64.44, and the 200-day moving average is $51.87. The company's financial health looks solid with a current ratio of 31.30 and a quick ratio of 30.60, alongside a debt-to-equity ratio of 0.69.
$CGON stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
CG Oncology reported revenue of $5.07 million with a revenue growth of 19.83%. However, the company is not yet profitable, with an EPS of -$2.34 and a return on equity of -20.79%. Net margins are currently zero, reflecting ongoing investments in its pipeline. The next earnings report is anticipated on August 7, 2026.
Insider Buying and Selling at CG Oncology, Inc.
Several insider transactions have occurred recently at CG Oncology. On June 15, 2026, James Mulay sold 1,964 shares in a planned transaction at an average price of $60.12. On the same day, Mulay also bought 1,964 shares at a price of $9.64. On June 4, 2026, Leonard Post sold 1,000 shares, while Christina Rossi and Victor Edward Tong Jr. each bought 9,354 shares.
Analysts Set New Price Targets
Analysts have set optimistic price targets for CG Oncology. On May 14, 2026, Truist Securities reiterated a 'buy' rating with a price target of $82. JP Morgan maintained its 'buy' rating with a target of $96 on May 11, while RBC Capital set an $81 target on the same day. The consensus among 14 analysts is a 'buy' rating, with a mean target price of $90.29.
About CG Oncology
CG Oncology, Inc., based in Dallas, Texas, operates in the healthcare sector, particularly in biotechnology. The company focuses on developing therapies for bladder cancer, with its lead product, cretostimogene grenadenorepvec, undergoing several phases of clinical trials. Founded in 2010, the company is led by CEO Arthur Kuan and employs 142 people.
Bottom Line
Farallon Capital Management's significant increase in its stake in CG Oncology underscores the interest in this biotech firm. Institutional investors closely track these filings to gauge potential investment opportunities. It's important to remember that 13F filings reflect past positions and may not indicate current holdings.
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