Wellington Management Group LLP Increases Stock Holdings in CARGO Therapeutics, Inc. (NASDAQ:CRGX)

Wellington Management Group LLP grew its position in CARGO Therapeutics, Inc. (NASDAQ:CRGX - Free Report) by 4.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,042,723 shares of the company's stock after buying an additional 79,782 shares during the period. Wellington Management Group LLP owned 4.44% of CARGO Therapeutics worth $37,688,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CRGX. 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 in the last quarter. Bank of New York Mellon Corp lifted its stake in CARGO Therapeutics by 11.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 69,171 shares of the company's stock valued at $1,136,000 after acquiring an additional 7,146 shares during the period. MetLife Investment Management LLC lifted its stake in CARGO Therapeutics by 59.3% during the 3rd quarter. MetLife Investment Management LLC now owns 19,833 shares of the company's stock valued at $366,000 after acquiring an additional 7,380 shares during the period. BNP Paribas Financial Markets lifted its stake in CARGO Therapeutics by 437.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,438 shares of the company's stock valued at $211,000 after acquiring an additional 9,311 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of CARGO Therapeutics during the 3rd quarter valued at approximately $234,000. 93.16% of the stock is currently owned by institutional investors.

CARGO Therapeutics Trading Down 7.4 %

CRGX traded down $1.10 on Friday, hitting $13.84. 172,028 shares of the company's stock were exchanged, compared to its average volume of 254,812. CARGO Therapeutics, Inc. has a fifty-two week low of $13.50 and a fifty-two week high of $33.92. The firm has a 50-day moving average price of $19.09 and a 200-day moving average price of $18.16.

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

Insiders Place Their Bets

In other news, CEO Gina Chapman sold 2,975 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $25.03, for a total value of $74,464.25. Following the completion of the sale, the chief executive officer now directly owns 103,905 shares of the company's stock, valued at approximately $2,600,742.15. This represents a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Anup Radhakrishnan sold 1,600 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $25.28, for a total value of $40,448.00. Following the completion of the sale, the chief financial officer now directly owns 6,446 shares of the company's stock, valued at $162,954.88. The trade was a 19.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.38% of the company's stock.

Wall Street Analysts Forecast Growth

CRGX has been the subject of several recent research reports. Chardan Capital reaffirmed a "buy" rating and set a $28.00 target price on shares of CARGO Therapeutics in a report on Wednesday, November 13th. HC Wainwright reissued a "buy" rating and issued a $33.00 price target on shares of CARGO Therapeutics in a report on Friday, November 15th. Finally, William Blair started coverage on shares of CARGO Therapeutics in a report on Tuesday, November 26th. They issued an "outperform" rating for the company. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $31.80.

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.