SG Americas Securities LLC Makes New Investment in CARGO Therapeutics, Inc. (NASDAQ:CRGX)

SG Americas Securities LLC acquired a new position in CARGO Therapeutics, Inc. (NASDAQ:CRGX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 12,679 shares of the company’s stock, valued at approximately $234,000.

Several other hedge funds have also added to or reduced their stakes in CRGX. Ameritas Investment Partners Inc. bought a new stake in CARGO Therapeutics in the first quarter worth about $48,000. American International Group Inc. bought a new stake in CARGO Therapeutics in the first quarter worth about $237,000. BNP Paribas Financial Markets bought a new stake in CARGO Therapeutics in the first quarter worth about $238,000. California State Teachers Retirement System bought a new stake in shares of CARGO Therapeutics in the first quarter valued at approximately $337,000. Finally, Rhumbline Advisers raised its position in shares of CARGO Therapeutics by 14.0% in the second quarter. Rhumbline Advisers now owns 30,639 shares of the company’s stock valued at $503,000 after purchasing an additional 3,765 shares during the period. Institutional investors own 93.16% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Gina Chapman sold 2,975 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were 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 owns 103,905 shares of the company’s stock, valued at approximately $2,600,742.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Anup Radhakrishnan sold 1,600 shares of the company’s stock in a transaction 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 owns 6,446 shares of the company’s stock, valued at approximately $162,954.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gina Chapman sold 2,975 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $25.03, for a total transaction of $74,464.25. Following the sale, the chief executive officer now owns 103,905 shares of the company’s stock, valued at $2,600,742.15. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.38% of the company’s stock.

CARGO Therapeutics Trading Down 5.7 %

Shares of NASDAQ:CRGX opened at $20.96 on Tuesday. CARGO Therapeutics, Inc. has a 12 month low of $13.14 and a 12 month high of $33.92. The stock has a market cap of $961.27 million and a P/E ratio of -0.41. The company has a 50 day moving average of $19.42 and a 200 day moving average of $18.49.

CARGO Therapeutics (NASDAQ:CRGX) last released its quarterly earnings results on Monday, August 12th. The company reported ($1.02) EPS for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.04. On average, equities analysts forecast that CARGO Therapeutics, Inc. will post -4.37 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.