The Manufacturers Life Insurance Company Has $2.61 Million Position in CARGO Therapeutics, Inc. (NASDAQ:CRGX)

The Manufacturers Life Insurance Company increased its position in CARGO Therapeutics, Inc. (NASDAQ:CRGX) by 20.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 159,019 shares of the company’s stock after buying an additional 26,808 shares during the quarter. The Manufacturers Life Insurance Company owned 0.35% of CARGO Therapeutics worth $2,611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ameritas Investment Partners Inc. acquired a new position in shares of CARGO Therapeutics in the first quarter valued at approximately $48,000. American International Group Inc. acquired a new stake in CARGO Therapeutics during the 1st quarter valued at approximately $237,000. BNP Paribas Financial Markets acquired a new stake in CARGO Therapeutics during the 1st quarter valued at approximately $238,000. California State Teachers Retirement System acquired a new stake in CARGO Therapeutics during the 1st quarter valued at approximately $337,000. Finally, Swiss National Bank acquired a new stake in CARGO Therapeutics during the 1st quarter valued at approximately $636,000. Institutional investors and hedge funds own 93.16% of the company’s stock.

Insiders Place Their Bets

In other CARGO Therapeutics 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 transaction of $74,464.25. Following the transaction, the chief executive officer now directly owns 103,905 shares in the company, valued at approximately $2,600,742.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Anup Radhakrishnan sold 1,600 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 6,446 shares in the company, valued at $162,954.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Gina Chapman sold 2,975 shares of the stock in a transaction 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 owns 103,905 shares in the company, valued at approximately $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. Company insiders own 1.38% of the company’s stock.

CARGO Therapeutics Stock Performance

CARGO Therapeutics stock opened at $19.02 on Wednesday. CARGO Therapeutics, Inc. has a 52-week low of $13.14 and a 52-week high of $33.92. The stock’s 50 day moving average price is $18.38 and its two-hundred day moving average price is $18.57.

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

Analyst Ratings Changes

A number of research firms have weighed in on CRGX. Piper Sandler decreased their target price on shares of CARGO Therapeutics from $37.00 to $34.00 and set an “overweight” rating for the company in a research report on Tuesday, August 13th. HC Wainwright reissued a “buy” rating and set a $33.00 target price on shares of CARGO Therapeutics in a research report on Tuesday, August 13th. Finally, Chardan Capital began coverage on shares of CARGO Therapeutics in a research report on Monday, July 8th. They set a “buy” rating and a $28.00 target price for the company. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, CARGO Therapeutics currently has a consensus rating of “Buy” and an average 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.