Jane Street Group LLC Sells 44,299 Shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX)

Jane Street Group LLC lowered its holdings in shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX) by 73.8% during the third quarter, Holdings Channel reports. The firm owned 15,707 shares of the company’s stock after selling 44,299 shares during the period. Jane Street Group LLC’s holdings in CARGO Therapeutics were worth $290,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Wellington Management Group LLP raised its holdings in shares of CARGO Therapeutics by 4.1% during the 3rd quarter. Wellington Management Group LLP now owns 2,042,723 shares of the company’s stock valued at $37,688,000 after purchasing an additional 79,782 shares in the last quarter. Sphera Funds Management LTD. raised its holdings in CARGO Therapeutics by 22.5% in the 3rd quarter. Sphera Funds Management LTD. now owns 190,506 shares of the company’s stock worth $3,515,000 after acquiring an additional 35,000 shares during the period. State Street Corp raised its holdings in CARGO Therapeutics by 11.7% in the 3rd quarter. State Street Corp now owns 839,861 shares of the company’s stock worth $15,495,000 after acquiring an additional 88,000 shares during the period. RTW Investments LP raised its holdings in CARGO Therapeutics by 0.5% in the 3rd quarter. RTW Investments LP now owns 4,098,955 shares of the company’s stock worth $75,626,000 after acquiring an additional 20,833 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in CARGO Therapeutics by 1.8% in the 3rd quarter. Janus Henderson Group PLC now owns 2,675,285 shares of the company’s stock worth $49,335,000 after acquiring an additional 46,659 shares during the period. Institutional investors own 93.16% of the company’s stock.

CARGO Therapeutics Stock Performance

NASDAQ:CRGX opened at $13.50 on Friday. The firm’s 50-day moving average is $16.47 and its 200-day moving average is $17.71. 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 $621.38 million, a price-to-earnings ratio of -3.17 and a beta of 2.50.

CARGO Therapeutics (NASDAQ:CRGX) last posted its quarterly earnings data 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. Equities analysts predict that CARGO Therapeutics, Inc. will post -3.73 EPS for the current year.

Analyst Ratings Changes

CRGX has been the topic of several recent analyst reports. Chardan Capital reiterated a “buy” rating and issued a $28.00 target price on shares of CARGO Therapeutics in a report on Wednesday, November 13th. William Blair initiated coverage on shares of CARGO Therapeutics in a report on Tuesday, November 26th. They issued an “outperform” rating on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $33.00 target price on shares of CARGO Therapeutics in a report on Friday, November 15th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, CARGO Therapeutics has an average rating of “Buy” and a consensus 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.