CARGO Therapeutics, Inc. (NASDAQ:CRGX) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX - Free Report) by 80.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 838,279 shares of the company's stock after purchasing an additional 374,018 shares during the quarter. Geode Capital Management LLC owned 1.82% of CARGO Therapeutics worth $15,469,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CRGX. Charles Schwab Investment Management Inc. increased its stake in shares of CARGO Therapeutics by 87.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 295,960 shares of the company's stock worth $5,460,000 after buying an additional 138,261 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of CARGO Therapeutics by 59.3% in the 3rd quarter. MetLife Investment Management LLC now owns 19,833 shares of the company's stock worth $366,000 after purchasing an additional 7,380 shares during the last quarter. FMR LLC lifted its position in shares of CARGO Therapeutics by 1.1% during the third quarter. FMR LLC now owns 6,954,476 shares of the company's stock worth $128,310,000 after purchasing an additional 77,508 shares during the last quarter. Sio Capital Management LLC acquired a new position in CARGO Therapeutics in the third quarter worth about $3,208,000. Finally, Yu Fan bought a new stake in CARGO Therapeutics in the second quarter valued at about $14,975,000. 93.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

CARGO Therapeutics Stock Performance

Shares of CRGX traded down $0.38 during mid-day trading on Monday, reaching $13.76. 134,412 shares of the company's stock traded hands, compared to its average volume of 259,191. CARGO Therapeutics, Inc. has a 12 month low of $12.17 and a 12 month high of $33.92. The stock has a market capitalization of $633.35 million and a P/E ratio of -3.23. The business's 50-day moving average price is $17.65 and its 200-day moving average price is $17.81.

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