T. Rowe Price Investment Management 13F: Adds $447M to CGON Stake

T. Rowe Price Investment Management has made a significant move in its investment portfolio by boosting its stake in CG Oncology, Inc. (NasdaqGS: CGON). According to a recent filing, the firm increased its holdings by an impressive 1,490%, adding 6,297,797 shares during the reporting period. This brings its total ownership to 6,720,389 shares, valued at approximately $445.2 million.

What Changed in T. Rowe Price's CG Oncology Position

T. Rowe Price's decision to increase its stake in CG Oncology is notable, as the firm now holds a total of 6,720,389 shares, up from a previous count of 422,592 shares. The substantial addition of 6,297,797 shares reflects a 1,490% increase in its position, indicating a strong vote of confidence in the company.

Other Institutional Activity in CG Oncology

In addition to T. Rowe Price's significant increase, other institutional investors have also adjusted their positions in CG Oncology. RTW Investments, LP grew its holdings by 4,972,681 shares, ending with 6,984,808 shares valued at about $472.7 million, marking a 247.1% increase. Decheng Capital LLC maintained its position with 6,371,669 shares worth $431.2 million, showing no change. Meanwhile, Wellington Management Group LLP reduced its stake by 628,558 shares, resulting in 5,371,232 shares valued at $363.5 million, a 10.5% decrease. BlackRock, Inc. added 220,938 shares, bringing its total to 5,064,180 shares worth around $342.7 million, a 4.6% increase.

CG Oncology, Inc. Stock Down 4.8%

Shares of CG Oncology traded near $66.25 on Tuesday. The company has a market cap of approximately $5.84 billion. CG Oncology is not currently profitable, reflected in its negative forward P/E ratio of -23.84. The stock's 52-week low is $23.65, and its high is $75.50. The company has a 50-day moving average of $64.44 and a 200-day moving average of $51.87. With a current ratio of 31.30 and a quick ratio of 30.60, CG Oncology appears to maintain strong liquidity.

Recent Earnings

CG Oncology reported revenue of $5.07 million, with a growth rate of 19.8%. However, the company is not yet profitable, as indicated by its net margin of 0% and a return on equity of -20.8%. The next earnings report is scheduled for August 7, 2026.

Insider Buying and Selling at CG Oncology, Inc.

Insider transactions at CG Oncology have been active. On June 15, 2026, James Mulay sold 1,964 shares, with 1,964 shares sold under a planned transaction at an average price of $60.12. Additionally, he bought 1,964 shares at an average price of $9.64. Leonard Post sold 1,000 shares on June 4, 2026, while Christina Rossi and Victor Edward Jr. each bought 9,354 shares on the same day.

Analysts Set New Price Targets

Analysts have maintained a positive outlook on CG Oncology. On May 14, 2026, Truist Securities reiterated a buy rating with a price target of $82. JP Morgan and RBC Capital both maintained their buy ratings on May 11, 2026, with price targets of $96 and $81, respectively. The consensus among 14 analysts is a buy rating, with an average price target of approximately $90.29.

About CG Oncology

CG Oncology, Inc. is a biopharmaceutical company based in Dallas, Texas, focused on developing treatments for bladder cancer. The company is working on cretostimogene grenadenorepvec, an investigational therapy currently in various phases of clinical trials. Led by CEO Arthur Kuan, CG Oncology aims to provide innovative solutions in the healthcare sector, particularly in the field of biotechnology.

Bottom Line

T. Rowe Price's substantial increase in its position in CG Oncology highlights investor interest in the company's potential. As a late-stage clinical biopharmaceutical firm, CG Oncology's focus on innovative cancer treatments is of significant interest to investors. However, it's important to remember that 13F filings are historical and may not reflect current positions.