CARGO Therapeutics, Inc. (NASDAQ:CRGX) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its position in CARGO Therapeutics, Inc. (NASDAQ:CRGX) by 11.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,171 shares of the company’s stock after buying an additional 7,146 shares during the period. Bank of New York Mellon Corp owned approximately 0.15% of CARGO Therapeutics worth $1,136,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CRGX. Swiss National Bank purchased a new position in CARGO Therapeutics in the first quarter worth $636,000. Franklin Resources Inc. purchased a new position in CARGO Therapeutics in the 4th quarter valued at about $13,333,000. Price T Rowe Associates Inc. MD boosted its position 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 worth $69,044,000 after acquiring an additional 854,840 shares during the last quarter. Perceptive Advisors LLC acquired a new stake in shares of CARGO Therapeutics during the fourth quarter worth $79,557,000. Finally, Wellington Management Group LLP purchased a new stake in CARGO Therapeutics in the 4th quarter valued at about $39,009,000. 93.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CRGX. Piper Sandler dropped their price objective on CARGO Therapeutics from $37.00 to $34.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th. HC Wainwright reiterated a “buy” rating and issued a $33.00 price objective on shares of CARGO Therapeutics in a report on Tuesday, August 13th. Finally, Chardan Capital assumed coverage on shares of CARGO Therapeutics in a research note on Monday, July 8th. They issued a “buy” rating and a $28.00 price target for the company. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $30.33.

CARGO Therapeutics Price Performance

Shares of NASDAQ CRGX opened at $23.85 on Friday. The firm’s 50-day moving average price is $18.09 and its two-hundred day moving average price is $19.53. CARGO Therapeutics, Inc. has a 52-week low of $13.14 and a 52-week high of $33.92.

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

Insider Buying and Selling at CARGO Therapeutics

In other news, CFO Anup Radhakrishnan sold 1,600 shares of the business’s 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 completion of the transaction, the chief financial officer now owns 6,446 shares of the company’s stock, valued at $162,954.88. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, 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 of the company’s stock, valued at approximately $2,600,742.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 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 disclosure for this sale can be found here. 1.38% of the stock is currently owned by company 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.