State Street Corp Boosts Stock Position in CARGO Therapeutics, Inc. (NASDAQ:CRGX)

State Street Corp grew its holdings in shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX) by 11.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 839,861 shares of the company’s stock after purchasing an additional 88,000 shares during the period. State Street Corp’s holdings in CARGO Therapeutics were worth $15,495,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its holdings in shares of CARGO Therapeutics by 14.0% during the second quarter. Rhumbline Advisers now owns 30,639 shares of the company’s stock worth $503,000 after purchasing an additional 3,765 shares during the period. Bank of New York Mellon Corp grew its position in CARGO Therapeutics by 11.5% during the second quarter. Bank of New York Mellon Corp now owns 69,171 shares of the company’s stock valued at $1,136,000 after buying an additional 7,146 shares during the period. 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 valued at $366,000 after acquiring an additional 7,380 shares during the period. BNP Paribas Financial Markets increased its position in shares of CARGO Therapeutics by 437.8% in the third quarter. BNP Paribas Financial Markets now owns 11,438 shares of the company’s stock valued at $211,000 after buying an additional 9,311 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in CARGO Therapeutics during the third quarter worth $234,000. 93.16% of the stock is currently owned by hedge funds and other institutional investors.

CARGO Therapeutics Stock Performance

CRGX opened at $14.66 on Wednesday. CARGO Therapeutics, Inc. has a 52-week low of $12.17 and a 52-week high of $33.92. 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 (NASDAQ:CRGX) last announced its quarterly earnings data 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. On average, research analysts predict that CARGO Therapeutics, Inc. will post -3.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CRGX has been the topic of a number of research reports. William Blair began coverage on CARGO Therapeutics in a report on Tuesday, November 26th. They issued an “outperform” rating on the stock. Chardan Capital reaffirmed a “buy” rating and set a $28.00 price objective on shares of CARGO Therapeutics in a report on Wednesday, November 13th. Finally, HC Wainwright restated a “buy” rating and set 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, CARGO Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $31.80.

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.