State Street Corp Acquires 88,000 Shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX)

State Street Corp increased its holdings in shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX) by 11.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 839,861 shares of the company’s stock after buying an additional 88,000 shares during the period. State Street Corp owned 1.82% of CARGO Therapeutics worth $15,495,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CRGX. BNP Paribas Financial Markets increased 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 worth $211,000 after purchasing an additional 9,311 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of CARGO Therapeutics during the 3rd quarter worth about $234,000. MetLife Investment Management LLC grew its position in shares of CARGO Therapeutics by 59.3% during the 3rd quarter. MetLife Investment Management LLC now owns 19,833 shares of the company’s stock worth $366,000 after purchasing an additional 7,380 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of CARGO Therapeutics by 14.0% in the second quarter. Rhumbline Advisers now owns 30,639 shares of the company’s stock worth $503,000 after acquiring an additional 3,765 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted 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 worth $1,136,000 after buying an additional 7,146 shares during the period. Institutional investors and hedge funds own 93.16% of the company’s stock.

Analysts Set New Price Targets

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

CARGO Therapeutics Trading Down 0.4 %

Shares of NASDAQ:CRGX opened at $14.66 on Wednesday. The company has a market cap of $674.77 million and a PE ratio of -3.44. The stock has a 50 day moving average of $18.40 and a 200 day moving average of $17.91. CARGO Therapeutics, Inc. has a 12-month low of $12.17 and a 12-month high of $33.92.

CARGO Therapeutics (NASDAQ:CRGX) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.88) earnings per share for the quarter, beating the consensus estimate of ($1.14) by $0.26. Equities research analysts predict that CARGO Therapeutics, Inc. will post -3.73 earnings per share for the current fiscal year.

About CARGO Therapeutics

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.