CARGO Therapeutics, Inc. (NASDAQ:CRGX) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its stake in shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX - Free Report) by 87.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 295,960 shares of the company's stock after purchasing an additional 138,261 shares during the period. Charles Schwab Investment Management Inc. owned about 0.64% of CARGO Therapeutics worth $5,460,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. California State Teachers Retirement System purchased a new position in shares of CARGO Therapeutics during the 1st quarter valued at about $337,000. Bank of New York Mellon Corp lifted its holdings in CARGO Therapeutics by 11.5% during the second quarter. Bank of New York Mellon Corp now owns 69,171 shares of the company's stock valued at $1,136,000 after purchasing an additional 7,146 shares in the last quarter. Rhumbline Advisers boosted its position in shares of CARGO Therapeutics by 14.0% in the second quarter. Rhumbline Advisers now owns 30,639 shares of the company's stock worth $503,000 after purchasing an additional 3,765 shares during the period. 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 worth $4,751,000 after purchasing an additional 127,418 shares in the last quarter. Finally, Cowen AND Company LLC increased its stake in CARGO Therapeutics by 121.7% in the 2nd 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 in the last quarter. Institutional investors own 93.16% of the company's stock.

Wall Street Analysts Forecast Growth

CRGX has been the subject of several research reports. 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. William Blair initiated coverage on CARGO Therapeutics in a report on Tuesday, November 26th. They set an "outperform" rating for the company. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $33.00 price objective on shares of CARGO Therapeutics in a research note on Friday, November 15th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $31.80.

Insider Buying and Selling at CARGO Therapeutics

In related news, CEO Gina Chapman sold 2,975 shares of the company's stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $25.03, for a total value of $74,464.25. Following the completion of the sale, the chief executive officer now directly owns 103,905 shares of the company's stock, valued at $2,600,742.15. This represents a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Anup Radhakrishnan sold 1,600 shares of the business'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 completion of the sale, the chief financial officer now owns 6,446 shares of the company's stock, valued at approximately $162,954.88. This represents a 19.89 % decrease in their position. The disclosure for this sale can be found here. 1.38% of the stock is owned by corporate insiders.

CARGO Therapeutics Stock Down 8.3 %

NASDAQ CRGX traded down $1.24 on Friday, hitting $13.70. 196,089 shares of the stock were exchanged, compared to its average volume of 254,965. CARGO Therapeutics, Inc. has a 52-week low of $13.50 and a 52-week high of $33.92. The stock has a fifty day moving average price of $19.09 and a two-hundred day moving average price of $18.16.

CARGO Therapeutics (NASDAQ:CRGX - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.14) by $0.26. On average, analysts predict that CARGO Therapeutics, Inc. will post -3.73 earnings per share for the current year.

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.