Novo Holdings A S Acquires 294,000 Shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX)

Novo Holdings A S grew its holdings in CARGO Therapeutics, Inc. (NASDAQ:CRGX) by 23.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,544,000 shares of the company’s stock after purchasing an additional 294,000 shares during the period. CARGO Therapeutics comprises approximately 1.3% of Novo Holdings A S’s holdings, making the stock its 26th largest holding. Novo Holdings A S owned approximately 3.37% of CARGO Therapeutics worth $25,352,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. RTW Investments LP purchased a new position in shares of CARGO Therapeutics during the fourth quarter worth approximately $119,821,000. Perceptive Advisors LLC purchased a new position in CARGO Therapeutics during the 4th quarter worth $79,557,000. Wellington Management Group LLP bought a new stake in CARGO Therapeutics during the 4th quarter valued at $39,009,000. Yu Fan purchased a new stake in shares of CARGO Therapeutics in the 2nd quarter worth $14,975,000. Finally, Price T Rowe Associates Inc. MD grew its position in shares of CARGO Therapeutics by 38.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,093,347 shares of the company’s stock worth $69,044,000 after buying an additional 854,840 shares in the last quarter. 93.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Anup Radhakrishnan sold 1,600 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $25.28, for a total transaction of $40,448.00. Following the transaction, the chief financial officer now directly owns 6,446 shares in the company, valued at approximately $162,954.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Anup Radhakrishnan sold 1,600 shares of CARGO Therapeutics stock in a transaction that occurred 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 directly owns 6,446 shares in the company, valued at approximately $162,954.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gina Chapman sold 2,975 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 103,905 shares in the company, valued at approximately $2,600,742.15. The disclosure for this sale can be found here. Company insiders own 1.38% of the company’s stock.

CARGO Therapeutics Trading Down 5.8 %

Shares of CARGO Therapeutics stock opened at $17.42 on Monday. The company has a 50-day simple moving average of $18.25 and a two-hundred day simple moving average of $19.10. CARGO Therapeutics, Inc. has a one year low of $13.14 and a one year high of $33.92.

CARGO Therapeutics (NASDAQ:CRGX) last posted its quarterly earnings data on Monday, August 12th. The company reported ($1.02) EPS for the quarter, topping the consensus estimate of ($1.06) by $0.04. As a group, sell-side analysts anticipate that CARGO Therapeutics, Inc. will post -4.37 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CRGX shares. Piper Sandler decreased 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 restated a “buy” rating and issued a $33.00 price target on shares of CARGO Therapeutics in a report 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 on the stock. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $30.33.

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.