State Street Corp Increases Position in CARGO Therapeutics, Inc. (NASDAQ:CRGX)

State Street Corp lifted its holdings in CARGO Therapeutics, Inc. (NASDAQ:CRGX - Free Report) by 11.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 839,861 shares of the company's stock after purchasing an additional 88,000 shares during the period. State Street Corp owned about 1.82% of CARGO Therapeutics worth $15,495,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of CRGX. BNP Paribas Financial Markets raised its stake in shares of CARGO Therapeutics by 437.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,438 shares of the company's stock worth $211,000 after buying an additional 9,311 shares during the period. SG Americas Securities LLC purchased a new stake in CARGO Therapeutics in the 3rd quarter worth $234,000. MetLife Investment Management LLC raised its position in 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 acquiring an additional 7,380 shares during the period. Rhumbline Advisers raised its position in CARGO Therapeutics by 14.0% during the second quarter. Rhumbline Advisers now owns 30,639 shares of the company's stock worth $503,000 after acquiring an additional 3,765 shares during the period. Finally, 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. Institutional investors and hedge funds own 93.16% of the company's stock.

Analyst Upgrades and Downgrades

CRGX has been the subject of several research reports. Chardan Capital reiterated a "buy" rating and set a $28.00 price target on shares of CARGO Therapeutics in a research report on Wednesday, November 13th. HC Wainwright reiterated a "buy" rating and issued a $33.00 price objective on shares of CARGO Therapeutics in a research report on Friday, November 15th. Finally, William Blair began coverage on CARGO Therapeutics in a research 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 MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $31.80.

CARGO Therapeutics Stock Performance

Shares of CRGX traded down $0.06 during midday trading on Wednesday, hitting $14.66. 74,655 shares of the stock were exchanged, compared to its average volume of 259,206. CARGO Therapeutics, Inc. has a 52-week low of $12.17 and a 52-week high of $33.92. The stock has a fifty day simple moving average of $18.26 and a 200 day simple moving average of $17.89. The firm has a market cap of $674.77 million and a P/E ratio of -3.44.

CARGO Therapeutics (NASDAQ:CRGX - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.88) EPS for the quarter, topping analysts' consensus estimates of ($1.14) by $0.26. As a group, equities research analysts forecast that CARGO Therapeutics, Inc. will post -3.73 EPS for the current fiscal 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.