CARGO Therapeutics, Inc. (NASDAQ:CRGX) Shares Sold by Jane Street Group LLC

Jane Street Group LLC decreased its stake in shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX - Free Report) by 73.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,707 shares of the company's stock after selling 44,299 shares during the quarter. Jane Street Group LLC's holdings in CARGO Therapeutics were worth $290,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Yu Fan purchased a new position in shares of CARGO Therapeutics during the 2nd quarter worth $14,975,000. Novo Holdings A S increased its position 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 purchasing an additional 294,000 shares during the last quarter. Perceptive Advisors LLC raised its stake in CARGO Therapeutics by 6.8% during the second quarter. Perceptive Advisors LLC now owns 3,683,004 shares of the company's stock worth $60,475,000 after purchasing an additional 235,000 shares during the period. Sio Capital Management LLC acquired a new position in CARGO Therapeutics in the 3rd quarter valued at about $3,208,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of CARGO Therapeutics by 87.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 295,960 shares of the company's stock valued at $5,460,000 after buying an additional 138,261 shares during the period. Institutional investors and hedge funds own 93.16% of the company's stock.

Analyst Upgrades and Downgrades

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

CARGO Therapeutics Stock Performance

Shares of CARGO Therapeutics stock traded down $0.70 during trading hours on Friday, reaching $13.50. 265,501 shares of the company were exchanged, compared to its average volume of 229,833. The firm has a market cap of $621.38 million, a PE ratio of -3.17 and a beta of 2.50. CARGO Therapeutics, Inc. has a 1 year low of $12.17 and a 1 year high of $33.92. The stock's fifty day moving average is $16.47 and its 200 day moving average is $17.73.

CARGO Therapeutics (NASDAQ:CRGX - Get Free Report) last released 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. Research analysts expect that CARGO Therapeutics, Inc. will post -3.73 earnings per share for the current year.

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.