Wellington Management Group LLP Has $37.69 Million Stock Holdings in CARGO Therapeutics, Inc. (NASDAQ:CRGX)

Wellington Management Group LLP lifted its stake in shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX) by 4.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,042,723 shares of the company’s stock after acquiring an additional 79,782 shares during the quarter. Wellington Management Group LLP owned approximately 4.44% of CARGO Therapeutics worth $37,688,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. FMR LLC increased its position in shares of CARGO Therapeutics by 1.1% during the third quarter. FMR LLC now owns 6,954,476 shares of the company’s stock worth $128,310,000 after buying an additional 77,508 shares during the period. RTW Investments LP grew its holdings in CARGO Therapeutics by 0.5% during the 3rd quarter. RTW Investments LP now owns 4,098,955 shares of the company’s stock worth $75,626,000 after acquiring an additional 20,833 shares during the period. Perceptive Advisors LLC raised its position in shares of CARGO Therapeutics by 6.8% in the 2nd quarter. Perceptive Advisors LLC now owns 3,683,004 shares of the company’s stock worth $60,475,000 after acquiring an additional 235,000 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of CARGO Therapeutics by 1.8% in the 3rd quarter. Janus Henderson Group PLC now owns 2,675,285 shares of the company’s stock valued at $49,335,000 after purchasing an additional 46,659 shares during the period. Finally, Novo Holdings A S boosted its position in shares of CARGO Therapeutics by 23.5% during the 2nd quarter. Novo Holdings A S now owns 1,544,000 shares of the company’s stock valued at $25,352,000 after purchasing an additional 294,000 shares in the last quarter. 93.16% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other CARGO Therapeutics news, CFO Anup Radhakrishnan sold 1,600 shares of CARGO Therapeutics stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $25.28, for a total transaction of $40,448.00. Following the transaction, 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 position. The transaction was disclosed in a legal filing 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 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 sale, the chief executive officer now owns 103,905 shares of the company’s stock, valued at approximately $2,600,742.15. This represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CRGX. HC Wainwright reiterated a “buy” rating and issued a $33.00 target price on shares of CARGO Therapeutics in a report on Friday, November 15th. Chardan Capital reiterated a “buy” rating and issued a $28.00 price objective on shares of CARGO Therapeutics in a research note on Wednesday, November 13th. Finally, William Blair initiated coverage on shares of CARGO Therapeutics in a research note on Tuesday, November 26th. They set an “outperform” rating on the stock. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $31.80.

CARGO Therapeutics Trading Down 8.9 %

NASDAQ CRGX opened at $14.94 on Friday. The company has a market cap of $687.66 million and a P/E ratio of -3.51. The company has a fifty day simple moving average of $19.09 and a 200 day simple moving average of $18.16. CARGO Therapeutics, Inc. has a 12-month low of $13.56 and a 12-month high of $33.92.

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. Sell-side analysts predict 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.