Janus Henderson Group PLC Buys 46,659 Shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX)

Janus Henderson Group PLC boosted its stake in shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX) by 1.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,675,285 shares of the company’s stock after acquiring an additional 46,659 shares during the period. Janus Henderson Group PLC owned 0.06% of CARGO Therapeutics worth $49,335,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CRGX. Vanguard Group Inc. increased its stake in CARGO Therapeutics by 179.5% during the 1st quarter. Vanguard Group Inc. now owns 1,116,293 shares of the company’s stock worth $24,916,000 after acquiring an additional 716,868 shares during the period. California State Teachers Retirement System acquired a new stake in shares of CARGO Therapeutics in the 1st quarter valued at $337,000. Bank of New York Mellon Corp boosted its holdings in shares of CARGO Therapeutics by 11.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 69,171 shares of the company’s stock valued at $1,136,000 after purchasing an additional 7,146 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of CARGO Therapeutics by 14.0% in the 2nd quarter. Rhumbline Advisers now owns 30,639 shares of the company’s stock valued at $503,000 after purchasing an additional 3,765 shares in the last quarter. Finally, TD Asset Management Inc boosted its holdings in shares of CARGO Therapeutics by 78.7% in the 2nd quarter. TD Asset Management Inc now owns 289,352 shares of the company’s stock valued at $4,751,000 after purchasing an additional 127,418 shares in the last quarter. Institutional investors own 93.16% of the company’s stock.

Insider Buying and Selling

In other news, CFO Anup Radhakrishnan sold 1,600 shares of CARGO Therapeutics stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $25.28, for a total value of $40,448.00. Following the completion of the transaction, the chief financial officer now directly owns 6,446 shares of the company’s stock, valued at approximately $162,954.88. This trade represents a 19.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gina Chapman sold 2,975 shares of CARGO Therapeutics stock in a transaction dated 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 directly owns 103,905 shares of the company’s stock, valued at approximately $2,600,742.15. This trade represents a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.38% of the stock is owned by corporate insiders.

CARGO Therapeutics Stock Down 1.8 %

Shares of NASDAQ:CRGX opened at $17.11 on Friday. The firm has a market cap of $787.57 million and a P/E ratio of -4.02. CARGO Therapeutics, Inc. has a 12-month low of $13.56 and a 12-month high of $33.92. The business has a fifty day simple moving average of $19.23 and a 200 day simple moving average of $18.30.

CARGO Therapeutics (NASDAQ:CRGX) last announced its earnings results on Tuesday, November 12th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.14) by $0.26. As a group, equities research analysts expect that CARGO Therapeutics, Inc. will post -3.73 EPS for the current year.

Wall Street Analysts Forecast Growth

CRGX has been the topic of a number of research analyst reports. Piper Sandler reduced their target price on CARGO Therapeutics from $37.00 to $34.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. William Blair began coverage on CARGO Therapeutics in a report on Tuesday, November 26th. They set an “outperform” rating on the stock. Chardan Capital reissued 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 reissued a “buy” rating and set a $33.00 price objective on shares of CARGO Therapeutics in a report on Friday, November 15th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $31.80.

About CARGO Therapeutics

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.