Geode Capital Management LLC Raises Stock Holdings in CARGO Therapeutics, Inc. (NASDAQ:CRGX)

Geode Capital Management LLC grew its position in shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX) by 80.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 838,279 shares of the company’s stock after acquiring an additional 374,018 shares during the period. Geode Capital Management LLC’s holdings in CARGO Therapeutics were worth $15,469,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Barclays PLC grew its holdings in shares of CARGO Therapeutics by 226.7% during the 3rd quarter. Barclays PLC now owns 56,354 shares of the company’s stock valued at $1,039,000 after purchasing an additional 39,102 shares during the last quarter. Wellington Management Group LLP lifted its position in CARGO Therapeutics by 4.1% in the third quarter. Wellington Management Group LLP now owns 2,042,723 shares of the company’s stock valued at $37,688,000 after purchasing an additional 79,782 shares during the last quarter. Sphera Funds Management LTD. grew its holdings in CARGO Therapeutics by 22.5% in the 3rd quarter. Sphera Funds Management LTD. now owns 190,506 shares of the company’s stock worth $3,515,000 after acquiring an additional 35,000 shares during the last quarter. State Street Corp increased its holdings in CARGO Therapeutics by 11.7% during the 3rd quarter. State Street Corp now owns 839,861 shares of the company’s stock valued at $15,495,000 after purchasing an additional 88,000 shares during the period. Finally, RTW Investments LP raised its holdings in shares of CARGO Therapeutics by 0.5% during the third quarter. RTW Investments LP now owns 4,098,955 shares of the company’s stock valued at $75,626,000 after acquiring an additional 20,833 shares in the last quarter. Institutional investors own 93.16% of the company’s stock.

CARGO Therapeutics Stock Performance

Shares of NASDAQ:CRGX opened at $14.14 on Monday. The business has a 50-day simple moving average of $17.80 and a two-hundred day simple moving average of $17.83. CARGO Therapeutics, Inc. has a fifty-two week low of $12.17 and a fifty-two week high of $33.92. The firm has a market cap of $650.84 million and a price-to-earnings ratio of -3.32.

CARGO Therapeutics (NASDAQ:CRGX) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.88) earnings per share for the quarter, beating the consensus estimate of ($1.14) by $0.26. As a group, research analysts predict that CARGO Therapeutics, Inc. will post -3.73 earnings per share for the current year.

Analyst Ratings Changes

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

CARGO Therapeutics 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.