CARGO Therapeutics, Inc. (NASDAQ:CRGX) Short Interest Down 5.3% in April

CARGO Therapeutics, Inc. (NASDAQ:CRGX) was the recipient of a large decrease in short interest in April. As of April 15th, there was short interest totalling 3,400,000 shares, a decrease of 5.3% from the March 31st total of 3,590,000 shares. Based on an average daily volume of 303,200 shares, the short-interest ratio is presently 11.2 days. Currently, 13.2% of the shares of the company are short sold.

Institutional Trading of CARGO Therapeutics

Several large investors have recently made changes to their positions in CRGX. RTW Investments LP acquired a new stake in shares of CARGO Therapeutics during the 4th quarter worth approximately $119,821,000. Perceptive Advisors LLC bought a new position in CARGO Therapeutics in the 4th quarter valued at approximately $79,557,000. Wellington Management Group LLP bought a new position in CARGO Therapeutics in the 4th quarter valued at approximately $39,009,000. Franklin Resources Inc. bought a new position in CARGO Therapeutics in the 4th quarter valued at approximately $13,333,000. Finally, BNP Paribas Financial Markets bought a new position in CARGO Therapeutics in the 1st quarter valued at approximately $238,000. Institutional investors and hedge funds own 93.16% of the company’s stock.

CARGO Therapeutics Trading Up 7.5 %

NASDAQ CRGX opened at $20.54 on Thursday. The stock’s 50 day moving average price is $23.39. CARGO Therapeutics has a 1 year low of $13.14 and a 1 year high of $33.92.

CARGO Therapeutics (NASDAQ:CRGX) last posted its quarterly earnings results on Thursday, March 21st. The company reported ($1.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.62) by $0.13. Equities analysts expect that CARGO Therapeutics will post -5.6 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group increased their target price on shares of CARGO Therapeutics from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd.

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.