CARGO Therapeutics, Inc. (NASDAQ:CRGX) Short Interest Update

CARGO Therapeutics, Inc. (NASDAQ:CRGX - Get Free Report) was the target of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 6,050,000 shares, a growth of 7.1% from the November 30th total of 5,650,000 shares. Currently, 18.9% of the shares of the company are short sold. Based on an average daily volume of 222,000 shares, the short-interest ratio is currently 27.3 days.

Institutional Trading of CARGO Therapeutics

A number of hedge funds have recently added to or reduced their stakes in CRGX. FMR LLC boosted its position in CARGO Therapeutics by 1.1% during the 3rd quarter. FMR LLC now owns 6,954,476 shares of the company's stock worth $128,310,000 after buying an additional 77,508 shares during the period. RTW Investments LP increased its holdings in CARGO Therapeutics by 0.5% in the third quarter. RTW Investments LP now owns 4,098,955 shares of the company's stock valued at $75,626,000 after purchasing an additional 20,833 shares during the period. Perceptive Advisors LLC grew its position 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 buying an additional 235,000 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of CARGO Therapeutics by 1.8% in the third quarter. Janus Henderson Group PLC now owns 2,675,285 shares of the company's stock worth $49,335,000 after acquiring an additional 46,659 shares during the period. Finally, Wellington Management Group LLP boosted its holdings 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 acquiring an additional 79,782 shares during the last quarter. Institutional investors and hedge funds own 93.16% of the company's stock.

CARGO Therapeutics Price Performance

CRGX traded up $0.63 on Thursday, hitting $15.05. 254,558 shares of the stock were exchanged, compared to its average volume of 258,750. The firm has a market capitalization of $692.72 million and a price-to-earnings ratio of -3.53. CARGO Therapeutics has a 12 month low of $12.17 and a 12 month high of $33.92. The business has a 50-day moving average of $17.28 and a two-hundred day moving average of $17.75.

CARGO Therapeutics (NASDAQ:CRGX - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($0.88) earnings per share for the quarter, topping the consensus estimate of ($1.14) by $0.26. Equities research analysts expect that CARGO Therapeutics will post -3.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CRGX has been the topic of a number of research reports. HC Wainwright reaffirmed a "buy" rating and set a $33.00 target price on shares of CARGO Therapeutics in a research report on Friday, November 15th. William Blair assumed coverage on CARGO Therapeutics in a research report on Tuesday, November 26th. They issued an "outperform" rating on the stock. Finally, Chardan Capital reissued a "buy" rating and set a $28.00 price objective on shares of CARGO Therapeutics in a report on Wednesday, November 13th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $31.80.

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.