CARGO Therapeutics, Inc. (NASDAQ:CRGX – Get Free Report) saw a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 3,990,000 shares, an increase of 7.0% from the June 30th total of 3,730,000 shares. Based on an average trading volume of 194,000 shares, the short-interest ratio is currently 20.6 days. Approximately 12.2% of the company’s stock are sold short.
CARGO Therapeutics Stock Down 1.9 %
Shares of CRGX traded down $0.33 during mid-day trading on Thursday, hitting $16.70. 213,575 shares of the company traded hands, compared to its average volume of 235,510. CARGO Therapeutics has a 1 year low of $13.14 and a 1 year high of $33.92. The stock has a 50-day moving average price of $17.10 and a two-hundred day moving average price of $20.61.
CARGO Therapeutics (NASDAQ:CRGX – Get Free Report) last released its quarterly earnings results on Tuesday, May 14th. The company reported ($0.87) earnings per share for the quarter, beating the consensus estimate of ($1.05) by $0.18. Equities research analysts forecast that CARGO Therapeutics will post -4.59 earnings per share for the current year.
Analysts Set New Price Targets
Get Our Latest Stock Analysis on CRGX
Insider Buying and Selling
In other CARGO Therapeutics news, major shareholder Samsara Biocapital Gp, Llc bought 294,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was acquired at an average price of $17.00 per share, with a total value of $4,998,000.00. Following the completion of the purchase, the insider now owns 4,415,689 shares of the company’s stock, valued at $75,066,713. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 1.38% of the stock is currently owned by insiders.
Institutional Investors Weigh In On CARGO Therapeutics
Hedge funds have recently modified their holdings of the business. Ameritas Investment Partners Inc. purchased a new position in CARGO Therapeutics during the first quarter valued at $48,000. American International Group Inc. bought a new position in shares of CARGO Therapeutics in the first quarter worth about $237,000. BNP Paribas Financial Markets purchased a new position in shares of CARGO Therapeutics during the 1st quarter valued at about $238,000. California State Teachers Retirement System bought a new position in shares of CARGO Therapeutics during the 1st quarter valued at approximately $337,000. Finally, Swiss National Bank purchased a new stake in CARGO Therapeutics in the 1st quarter worth approximately $636,000. Institutional investors own 93.16% of the company’s stock.
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.
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