CARGO Therapeutics, Inc. (NASDAQ:CRGX) Shares Purchased by Fmr LLC

Fmr LLC increased its holdings in CARGO Therapeutics, Inc. (NASDAQ:CRGX) by 1.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 6,954,476 shares of the company’s stock after acquiring an additional 77,508 shares during the period. Fmr LLC owned approximately 15.15% of CARGO Therapeutics worth $128,310,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Yu Fan purchased a new position in shares of CARGO Therapeutics during the 2nd quarter worth $14,975,000. Vanguard Group Inc. lifted its position in CARGO Therapeutics by 179.5% in the first quarter. Vanguard Group Inc. now owns 1,116,293 shares of the company’s stock valued at $24,916,000 after buying an additional 716,868 shares during the last quarter. Cowen AND Company LLC boosted its stake in CARGO Therapeutics by 121.7% during the second quarter. Cowen AND Company LLC now owns 554,305 shares of the company’s stock worth $9,102,000 after buying an additional 304,305 shares during the period. Novo Holdings A S increased its position in shares of CARGO Therapeutics by 23.5% during the second quarter. Novo Holdings A S now owns 1,544,000 shares of the company’s stock valued at $25,352,000 after acquiring an additional 294,000 shares during the last quarter. Finally, Perceptive Advisors LLC raised its stake in shares of CARGO Therapeutics by 6.8% in the 2nd quarter. Perceptive Advisors LLC now owns 3,683,004 shares of the company’s stock valued at $60,475,000 after acquiring an additional 235,000 shares during the period. Institutional investors and hedge funds own 93.16% of the company’s stock.

CARGO Therapeutics Trading Up 1.3 %

Shares of NASDAQ CRGX opened at $18.14 on Wednesday. The stock has a market cap of $834.98 million and a P/E ratio of -4.26. The business’s fifty day simple moving average is $19.29 and its 200-day simple moving average is $18.31. CARGO Therapeutics, Inc. has a 12-month low of $13.56 and a 12-month high of $33.92.

CARGO Therapeutics (NASDAQ:CRGX) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.88) EPS for the quarter, beating analysts’ consensus estimates of ($1.14) by $0.26. On average, equities analysts forecast that CARGO Therapeutics, Inc. will post -3.73 EPS for the current fiscal year.

Insider Buying and Selling at CARGO Therapeutics

In other news, CFO Anup Radhakrishnan sold 1,600 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $25.28, for a total value of $40,448.00. Following the completion of the transaction, the chief financial officer now owns 6,446 shares in the company, valued at approximately $162,954.88. This represents a 19.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Gina Chapman sold 2,975 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $25.03, for a total transaction of $74,464.25. Following the completion of the transaction, the chief executive officer now directly owns 103,905 shares in the company, valued at $2,600,742.15. This trade represents a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.38% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CRGX shares. HC Wainwright reaffirmed a “buy” rating and set a $33.00 price objective on shares of CARGO Therapeutics in a research report on Friday, November 15th. William Blair initiated coverage on CARGO Therapeutics in a research report on Tuesday, November 26th. They set an “outperform” rating for the company. Chardan Capital reiterated a “buy” rating and issued a $28.00 price objective on shares of CARGO Therapeutics in a report on Wednesday, November 13th. Finally, Piper Sandler decreased their target price on CARGO Therapeutics from $37.00 to $34.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $30.33.

About CARGO Therapeutics

CARGO Therapeutics, Inc, a clinical-stage biotechnology company, develops chimeric antigen receptor (CAR) T-cell therapies for cancer patients. The company's lead program is CRG-022, an autologous CD22 CAR T-cell product candidate designed to address resistance mechanisms by targeting CD22, an alternate tumor antigen that is expressed in B-cell malignancies.