Charles Schwab Investment Management Inc. Has $5.46 Million Stock Holdings in CARGO Therapeutics, Inc. (NASDAQ:CRGX)

Charles Schwab Investment Management Inc. raised its holdings in shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX) by 87.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 295,960 shares of the company’s stock after buying an additional 138,261 shares during the period. Charles Schwab Investment Management Inc.’s holdings in CARGO Therapeutics were worth $5,460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the business. Perceptive Advisors LLC lifted its holdings in CARGO Therapeutics by 6.8% during the 2nd quarter. Perceptive Advisors LLC now owns 3,683,004 shares of the company’s stock valued at $60,475,000 after purchasing an additional 235,000 shares during the last quarter. Novo Holdings A S raised its stake in CARGO Therapeutics by 23.5% during the second quarter. Novo Holdings A S now owns 1,544,000 shares of the company’s stock worth $25,352,000 after acquiring an additional 294,000 shares in the last quarter. Yu Fan acquired a new position in CARGO Therapeutics during the second quarter worth about $14,975,000. Cowen AND Company LLC increased its stake in shares of CARGO Therapeutics by 121.7% in the second quarter. Cowen AND Company LLC now owns 554,305 shares of the company’s stock valued at $9,102,000 after buying an additional 304,305 shares during the period. Finally, TD Asset Management Inc increased its stake in shares of CARGO Therapeutics by 78.7% in the second quarter. TD Asset Management Inc now owns 289,352 shares of the company’s stock valued at $4,751,000 after buying an additional 127,418 shares during the period. Institutional investors and hedge funds own 93.16% of the company’s stock.

CARGO Therapeutics Trading Down 8.9 %

NASDAQ:CRGX opened at $14.94 on Friday. The stock has a market capitalization of $687.66 million and a price-to-earnings ratio of -3.51. The firm has a fifty day simple moving average of $19.09 and a two-hundred day simple moving average of $18.16. CARGO Therapeutics, Inc. has a 12 month low of $13.56 and a 12 month high of $33.92.

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

Insider Activity

In related news, CFO Anup Radhakrishnan sold 1,600 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $25.28, for a total transaction of $40,448.00. Following the transaction, the chief financial officer now directly owns 6,446 shares of the company’s stock, valued at $162,954.88. This trade represents a 19.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Gina Chapman sold 2,975 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $25.03, for a total transaction of $74,464.25. Following the transaction, the chief executive officer now directly owns 103,905 shares in the company, valued at $2,600,742.15. The trade was a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.38% of the company’s stock.

Analyst Ratings Changes

CRGX has been the subject of several recent research reports. William Blair initiated coverage on CARGO Therapeutics in a research note on Tuesday, November 26th. They issued an “outperform” rating for the company. HC Wainwright reiterated a “buy” rating and issued a $33.00 target price on shares of CARGO Therapeutics in a report on Friday, November 15th. Finally, Chardan Capital reiterated a “buy” rating and issued a $28.00 target price on shares of CARGO Therapeutics in a report on Wednesday, November 13th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $31.80.

CARGO Therapeutics Company Profile

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.