Yu Fan Makes New Investment in CARGO Therapeutics, Inc. (NASDAQ:CRGX)

Yu Fan bought a new stake in shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 912,000 shares of the company’s stock, valued at approximately $14,975,000. CARGO Therapeutics makes up approximately 19.6% of Yu Fan’s holdings, making the stock its 2nd largest holding. Yu Fan owned 1.99% of CARGO Therapeutics at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CRGX. Swiss National Bank acquired a new stake in shares of CARGO Therapeutics in the first quarter worth $636,000. Franklin Resources Inc. bought a new stake in CARGO Therapeutics during the fourth quarter valued at about $13,333,000. Price T Rowe Associates Inc. MD boosted its holdings in CARGO Therapeutics by 38.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,093,347 shares of the company’s stock valued at $69,044,000 after acquiring an additional 854,840 shares during the period. Perceptive Advisors LLC acquired a new stake in shares of CARGO Therapeutics in the fourth quarter valued at about $79,557,000. Finally, Wellington Management Group LLP bought a new position in shares of CARGO Therapeutics in the fourth quarter worth about $39,009,000. Institutional investors and hedge funds own 93.16% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on CRGX shares. Chardan Capital started coverage on CARGO Therapeutics in a research note on Monday, July 8th. They set a “buy” rating and a $28.00 target price for the company. HC Wainwright reissued a “buy” rating and issued a $33.00 price objective on shares of CARGO Therapeutics in a research report on Tuesday, August 13th. Finally, Piper Sandler lowered their price objective on shares of CARGO Therapeutics from $37.00 to $34.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $30.33.

CARGO Therapeutics Stock Down 4.6 %

CARGO Therapeutics stock opened at $23.85 on Monday. CARGO Therapeutics, Inc. has a 12 month low of $13.14 and a 12 month high of $33.92. The business has a 50 day moving average price of $18.09 and a two-hundred day moving average price of $19.43.

CARGO Therapeutics (NASDAQ:CRGX) last issued its earnings results on Monday, August 12th. The company reported ($1.02) EPS for the quarter, topping the consensus estimate of ($1.06) by $0.04. Equities research analysts forecast that CARGO Therapeutics, Inc. will post -4.37 EPS for the current year.

Insider Activity at CARGO Therapeutics

In other news, CFO Anup Radhakrishnan sold 1,600 shares of the company’s 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 sale, the chief financial officer now directly owns 6,446 shares in the company, valued at approximately $162,954.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, 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 transaction of $74,464.25. Following the completion of the transaction, the chief executive officer now directly owns 103,905 shares of the company’s stock, valued at approximately $2,600,742.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $40,448.00. Following the sale, the chief financial officer now directly owns 6,446 shares in the company, valued at $162,954.88. The disclosure for this sale can be found here. 1.38% of the stock is currently owned by insiders.

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.