Janus Henderson Group PLC Purchases 46,659 Shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX)

Janus Henderson Group PLC boosted its stake in shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX - Free Report) by 1.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,675,285 shares of the company's stock after buying an additional 46,659 shares during the period. Janus Henderson Group PLC owned approximately 5.81% of CARGO Therapeutics worth $49,335,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Rhumbline Advisers boosted its stake in CARGO Therapeutics by 14.0% in the 2nd 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. Bank of New York Mellon Corp boosted its position in shares of 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 worth $1,136,000 after buying an additional 7,146 shares during the period. MetLife Investment Management LLC grew its holdings in shares of CARGO Therapeutics by 59.3% during the third quarter. MetLife Investment Management LLC now owns 19,833 shares of the company's stock worth $366,000 after buying an additional 7,380 shares in the last quarter. BNP Paribas Financial Markets raised its position in CARGO Therapeutics by 437.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,438 shares of the company's stock valued at $211,000 after buying an additional 9,311 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in CARGO Therapeutics in the 3rd quarter valued at approximately $234,000. Institutional investors and hedge funds own 93.16% of the company's stock.

CARGO Therapeutics Stock Performance

CARGO Therapeutics stock traded up $1.36 during midday trading on Friday, reaching $18.47. 199,812 shares of the company's stock were exchanged, compared to its average volume of 254,702. The stock's 50-day simple moving average is $19.23 and its 200 day simple moving average is $18.30. The firm has a market cap of $850.14 million and a price-to-earnings ratio of -4.02. CARGO Therapeutics, Inc. has a 52 week low of $13.56 and a 52 week high of $33.92.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CRGX shares. William Blair started coverage on shares of CARGO Therapeutics in a research note on Tuesday, November 26th. They issued an "outperform" rating on the stock. Chardan Capital reiterated a "buy" rating and set a $28.00 target price on shares of CARGO Therapeutics in a report on Wednesday, November 13th. HC Wainwright restated a "buy" rating and issued a $33.00 price target on shares of CARGO Therapeutics in a research note on Friday, November 15th. Finally, Piper Sandler dropped their price objective on CARGO Therapeutics from $37.00 to $34.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 13th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $31.80.

Insider Buying and Selling

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

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.