RTW Investments LP Grows Position in CARGO Therapeutics, Inc. (NASDAQ:CRGX)

RTW Investments LP increased its position in CARGO Therapeutics, Inc. (NASDAQ:CRGX) by 0.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,098,955 shares of the company’s stock after purchasing an additional 20,833 shares during the quarter. CARGO Therapeutics makes up about 1.1% of RTW Investments LP’s investment portfolio, making the stock its 29th largest holding. RTW Investments LP owned about 0.09% of CARGO Therapeutics worth $75,626,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CRGX. Rhumbline Advisers increased its position in CARGO Therapeutics by 14.0% during the 2nd quarter. Rhumbline Advisers now owns 30,639 shares of the company’s stock valued at $503,000 after buying an additional 3,765 shares in the last quarter. Bank of New York Mellon Corp increased its position 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 buying an additional 7,146 shares in the last quarter. MetLife Investment Management LLC increased its position 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 buying an additional 7,380 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of CARGO Therapeutics by 437.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,438 shares of the company’s stock worth $211,000 after purchasing an additional 9,311 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of CARGO Therapeutics in the 3rd quarter worth $234,000. Hedge funds and other institutional investors own 93.16% of the company’s stock.

Insider Transactions at CARGO Therapeutics

In related news, CFO Anup Radhakrishnan sold 1,600 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $25.28, for a total value of $40,448.00. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the chief executive officer now directly owns 103,905 shares in the company, valued at approximately $2,600,742.15. This trade represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.38% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CRGX shares. Piper Sandler dropped their price target 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. William Blair began coverage on CARGO Therapeutics in a research report on Tuesday, November 26th. They set an “outperform” rating on the stock. HC Wainwright restated a “buy” rating and issued a $33.00 price objective on shares of CARGO Therapeutics in a research report on Friday, November 15th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $28.00 target price on shares of CARGO Therapeutics in a report on Wednesday, November 13th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, CARGO Therapeutics currently has a consensus rating of “Buy” and an average price target of $30.33.

CARGO Therapeutics Price Performance

Shares of CRGX stock opened at $17.43 on Thursday. CARGO Therapeutics, Inc. has a 1 year low of $13.56 and a 1 year high of $33.92. The stock’s 50 day simple moving average is $19.25 and its two-hundred day simple moving average is $18.30. The company has a market cap of $802.30 million and a PE ratio of -4.09.

CARGO Therapeutics (NASDAQ:CRGX) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.88) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.14) by $0.26. Equities research analysts expect that CARGO Therapeutics, Inc. will post -3.73 EPS 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.