Jane Street Group LLC Decreases Stake in CARGO Therapeutics, Inc. (NASDAQ:CRGX)

Jane Street Group LLC decreased its stake in shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX) by 73.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,707 shares of the company’s stock after selling 44,299 shares during the period. Jane Street Group LLC’s holdings in CARGO Therapeutics were worth $290,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. FMR LLC lifted its position in shares of CARGO Therapeutics by 1.1% during the third quarter. FMR LLC now owns 6,954,476 shares of the company’s stock worth $128,310,000 after purchasing an additional 77,508 shares during the last quarter. RTW Investments LP lifted its position in shares of CARGO Therapeutics by 0.5% during the third quarter. RTW Investments LP now owns 4,098,955 shares of the company’s stock worth $75,626,000 after purchasing an additional 20,833 shares during the last quarter. Perceptive Advisors LLC lifted its position in shares of CARGO Therapeutics by 6.8% during the second quarter. Perceptive Advisors LLC now owns 3,683,004 shares of the company’s stock worth $60,475,000 after purchasing an additional 235,000 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of CARGO Therapeutics by 1.8% during the third quarter. Janus Henderson Group PLC now owns 2,675,285 shares of the company’s stock worth $49,335,000 after purchasing an additional 46,659 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in CARGO Therapeutics by 4.1% in the third quarter. Wellington Management Group LLP now owns 2,042,723 shares of the company’s stock worth $37,688,000 after acquiring an additional 79,782 shares during the last quarter. Institutional investors own 93.16% of the company’s stock.

CARGO Therapeutics Stock Performance

Shares of NASDAQ:CRGX opened at $13.50 on Friday. The stock has a market capitalization of $621.38 million, a price-to-earnings ratio of -3.17 and a beta of 2.50. CARGO Therapeutics, Inc. has a 1-year low of $12.17 and a 1-year high of $33.92. The company has a 50 day moving average price of $16.47 and a 200 day moving average price of $17.71.

CARGO Therapeutics (NASDAQ:CRGX) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.88) EPS for the quarter, topping analysts’ consensus estimates of ($1.14) by $0.26. On average, sell-side analysts expect that CARGO Therapeutics, Inc. will post -3.73 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on CRGX. William Blair began coverage on shares of CARGO Therapeutics in a report on Tuesday, November 26th. They issued an “outperform” rating on the stock. Chardan Capital reissued a “buy” rating and issued a $28.00 target price on shares of CARGO Therapeutics in a report on Wednesday, November 13th. Finally, HC Wainwright reissued a “buy” rating and issued a $33.00 target price on shares of CARGO Therapeutics in a report on Friday, November 15th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $31.80.

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.