173,860 Shares in CARGO Therapeutics, Inc. (NASDAQ:CRGX) Acquired by Sio Capital Management LLC

Sio Capital Management LLC acquired a new position in shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 173,860 shares of the company's stock, valued at approximately $3,208,000. CARGO Therapeutics comprises about 1.3% of Sio Capital Management LLC's portfolio, making the stock its 21st biggest holding. Sio Capital Management LLC owned about 0.38% of CARGO Therapeutics as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CRGX. Vanguard Group Inc. lifted its holdings in shares of CARGO Therapeutics by 179.5% in the first quarter. Vanguard Group Inc. now owns 1,116,293 shares of the company's stock valued at $24,916,000 after purchasing an additional 716,868 shares in the last quarter. American International Group Inc. bought a new position in CARGO Therapeutics during the first quarter worth $237,000. California State Teachers Retirement System acquired a new position in shares of CARGO Therapeutics in the first quarter valued at $337,000. Bank of New York Mellon Corp raised its position in shares of CARGO Therapeutics by 11.5% in 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 during the period. Finally, Rhumbline Advisers lifted its stake in shares of CARGO Therapeutics by 14.0% during the 2nd quarter. Rhumbline Advisers now owns 30,639 shares of the company's stock worth $503,000 after buying an additional 3,765 shares during the last quarter. Institutional investors and hedge funds own 93.16% of the company's stock.

CARGO Therapeutics Trading Up 2.9 %

CARGO Therapeutics stock traded up $0.51 during trading hours on Friday, reaching $18.18. 114,401 shares of the stock were exchanged, compared to its average volume of 255,711. The stock has a 50 day moving average of $19.46 and a two-hundred day moving average of $18.39. The company has a market cap of $836.83 million and a P/E ratio of -4.15. CARGO Therapeutics, Inc. has a twelve month low of $13.56 and a twelve month high of $33.92.

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 for the quarter, topping the consensus estimate of ($1.14) by $0.26. On average, analysts expect that CARGO Therapeutics, Inc. will post -3.73 earnings per share for the current fiscal year.

Insider Activity at CARGO Therapeutics

In other CARGO Therapeutics news, CFO Anup Radhakrishnan sold 1,600 shares of the company's stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $25.28, for a total value of $40,448.00. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Gina Chapman sold 2,975 shares of CARGO Therapeutics 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 sale, the chief executive officer now directly owns 103,905 shares in the company, valued at $2,600,742.15. The trade was 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.

Analysts Set New Price Targets

Several brokerages have issued reports on CRGX. William Blair initiated coverage on shares of CARGO Therapeutics in a research report on Tuesday. They set an "outperform" rating for the company. Chardan Capital reaffirmed a "buy" rating and issued a $28.00 price objective on shares of CARGO Therapeutics in a report on Wednesday, November 13th. HC Wainwright reissued a "buy" rating and issued a $33.00 target price on shares of CARGO Therapeutics in a research report on Friday, November 15th. Finally, Piper Sandler lowered their price target on shares of CARGO Therapeutics from $37.00 to $34.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 13th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, CARGO Therapeutics currently has a consensus rating of "Buy" and a consensus target price of $30.33.

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.