BNP Paribas Financial Markets Boosts Stock Position in CARGO Therapeutics, Inc. (NASDAQ:CRGX)

BNP Paribas Financial Markets increased its holdings in CARGO Therapeutics, Inc. (NASDAQ:CRGX) by 437.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,438 shares of the company’s stock after purchasing an additional 9,311 shares during the period. BNP Paribas Financial Markets’ holdings in CARGO Therapeutics were worth $211,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its holdings in shares of CARGO Therapeutics by 87.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 295,960 shares of the company’s stock worth $5,460,000 after buying an additional 138,261 shares during the last quarter. FMR LLC increased its stake in 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 acquiring an additional 77,508 shares during the last quarter. Yu Fan purchased a new stake in CARGO Therapeutics during the second quarter valued at approximately $14,975,000. Cowen AND Company LLC lifted its stake in shares of CARGO Therapeutics by 121.7% in the 2nd quarter. Cowen AND Company LLC now owns 554,305 shares of the company’s stock valued at $9,102,000 after purchasing an additional 304,305 shares during 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 worth $4,751,000 after purchasing an additional 127,418 shares during the period. Institutional investors own 93.16% of the company’s stock.

Insider Transactions at CARGO Therapeutics

In other news, CEO Gina Chapman sold 2,975 shares of the 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 directly owns 103,905 shares in the company, valued at approximately $2,600,742.15. This trade represents a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Anup Radhakrishnan sold 1,600 shares of the business’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 transaction 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 $162,954.88. This trade represents a 19.89 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.38% of the company’s stock.

CARGO Therapeutics Stock Up 5.5 %

Shares of CARGO Therapeutics stock opened at $14.50 on Tuesday. The stock’s fifty day moving average is $19.01 and its two-hundred day moving average is $18.11. CARGO Therapeutics, Inc. has a 52 week low of $13.33 and a 52 week high of $33.92. The company has a market capitalization of $667.41 million and a PE ratio of -3.23.

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. HC Wainwright restated a “buy” rating and set a $33.00 price target on shares of CARGO Therapeutics in a report on Friday, November 15th. William Blair initiated coverage on shares of CARGO Therapeutics in a research note on Tuesday, November 26th. They issued an “outperform” rating on the stock. Finally, Chardan Capital restated a “buy” rating and issued a $28.00 target price on shares of CARGO Therapeutics in a report on Wednesday, November 13th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average 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.