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% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 69,171 shares of the company’s stock after purchasing an additional 7,146 shares during the period. Bank of New York Mellon Corp’s holdings in CARGO Therapeutics were worth $1,136,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Swiss National Bank bought a new stake in shares of CARGO Therapeutics in the 1st quarter worth $636,000. Franklin Resources Inc. bought a new position in CARGO Therapeutics during the fourth quarter valued at about $13,333,000. Price T Rowe Associates Inc. MD grew its holdings 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 period. Perceptive Advisors LLC acquired a new position in CARGO Therapeutics during the fourth quarter worth about $79,557,000. Finally, Wellington Management Group LLP bought a new stake in CARGO Therapeutics in the fourth quarter worth about $39,009,000. 93.16% of the stock is currently owned by institutional investors and hedge funds.

CARGO Therapeutics Trading Down 4.6 %

Shares of CRGX opened at $23.85 on Friday. The company has a 50-day moving average of $18.09 and a two-hundred day moving average of $19.53. CARGO Therapeutics, Inc. has a one year low of $13.14 and a one year high of $33.92.

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

Insider Buying and Selling

In other news, CFO Anup Radhakrishnan sold 1,600 shares of the firm’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 transaction, the chief financial officer now owns 6,446 shares in the company, valued at approximately $162,954.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Gina Chapman sold 2,975 shares of the business’s 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 sale, the chief executive officer now directly owns 103,905 shares in the company, valued at approximately $2,600,742.15. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Anup Radhakrishnan sold 1,600 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 6,446 shares of the company’s stock, valued at approximately $162,954.88. The disclosure for this sale can be found here. 1.38% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on CRGX. Piper Sandler reduced their price objective 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 note on Tuesday, August 13th. Finally, Chardan Capital initiated coverage on shares of CARGO Therapeutics in a research report on Monday, July 8th. They issued a “buy” rating and a $28.00 price target on the stock. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus 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.