Sphera Funds Management LTD. Acquires 35,000 Shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX)

Sphera Funds Management LTD. lifted its position in CARGO Therapeutics, Inc. (NASDAQ:CRGX) by 22.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 190,506 shares of the company’s stock after purchasing an additional 35,000 shares during the quarter. Sphera Funds Management LTD. owned about 0.41% of CARGO Therapeutics worth $3,515,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. BNP Paribas Financial Markets increased its holdings 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 worth $211,000 after purchasing an additional 9,311 shares during the period. SG Americas Securities LLC bought a new position in CARGO Therapeutics in the third quarter valued at $234,000. California State Teachers Retirement System bought a new position in CARGO Therapeutics in the first quarter valued at $337,000. MetLife Investment Management LLC increased its stake in CARGO Therapeutics by 59.3% in the third 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 last quarter. Finally, Rhumbline Advisers increased its stake in CARGO Therapeutics by 14.0% in the second quarter. Rhumbline Advisers now owns 30,639 shares of the company’s stock valued at $503,000 after acquiring an additional 3,765 shares during the last quarter. Institutional investors own 93.16% of the company’s stock.

Insider Buying and Selling at CARGO Therapeutics

In related news, CFO Anup Radhakrishnan sold 1,600 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 6,446 shares of the company’s stock, valued at $162,954.88. This trade represents a 19.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gina Chapman sold 2,975 shares of the firm’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 transaction of $74,464.25. Following the completion of the sale, the chief executive officer now owns 103,905 shares in the company, valued at $2,600,742.15. This represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.38% of the company’s stock.

CARGO Therapeutics Price Performance

CRGX stock opened at $17.43 on Thursday. CARGO Therapeutics, Inc. has a 1 year low of $13.56 and a 1 year high of $33.92. The firm has a 50-day moving average of $19.25 and a 200 day moving average of $18.30.

CARGO Therapeutics (NASDAQ:CRGX) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.14) by $0.26. On average, sell-side analysts expect that CARGO Therapeutics, Inc. will post -3.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on CRGX shares. Chardan Capital restated a “buy” rating and set a $28.00 price target on shares of CARGO Therapeutics in a research report on Wednesday, November 13th. William Blair started coverage on shares of CARGO Therapeutics in a research report on Tuesday, November 26th. They set an “outperform” rating for the company. HC Wainwright restated a “buy” rating and set a $33.00 price target on shares of CARGO Therapeutics in a research report on Friday, November 15th. Finally, Piper Sandler cut their price target 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. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, CARGO Therapeutics currently has an average rating of “Buy” and an average target price of $30.33.

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.