SCHEDULE 13G/A: FMR LLC and Abigail P. Johnson Maintain Significant 11.3% Passive Stake in Cargo Therapeutics Inc.
Beneficial Ownership Statement
FMR LLC and Abigail P. Johnson have filed an amended Schedule 13G, confirming their passive beneficial ownership of 11.3% of Cargo Therapeutics Inc.'s common stock as of March 31, 2025.
Summary
- FMR LLC and Abigail P. Johnson are the reporting persons in this Schedule 13G Amendment No. 2 filing.
- As of March 31, 2025, they collectively beneficially own 5,210,004 shares of Cargo Therapeutics Inc. common stock.
- This ownership represents 11.3% of the total outstanding common stock of Cargo Therapeutics Inc.
- FMR LLC holds sole voting power over 5,206,635 shares and sole dispositive power over 5,210,004 shares.
- Abigail P. Johnson holds sole dispositive power over 5,210,004 shares.
- The shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Cargo Therapeutics Inc.
- The filing identifies FMR LLC as a parent holding company or control person and Abigail P. Johnson as an individual.
- Subsidiaries and affiliates of FMR LLC, including FIAM LLC, Fidelity Institutional Asset Management Trust Company, and Fidelity Management & Research Company LLC, are identified as entities that beneficially own shares.
Sentiment
Score: 7
Explanation: The disclosure of a significant passive stake by a major institutional investor like FMR LLC and its principal, Abigail P. Johnson, is generally viewed positively as it indicates confidence and long-term interest in the company. The filing itself is a routine compliance document and does not contain negative information.
Positives
- FMR LLC, a major institutional investor, and Abigail P. Johnson, a prominent figure in the financial industry, hold a significant 11.3% stake in Cargo Therapeutics Inc., indicating notable institutional interest and potential long-term confidence in the company.
- The filing explicitly states that the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control, suggesting a passive, stable investment perspective.
Negatives
- NA
Risks
- NA
Future Outlook
NA
Management Comments
- NA
Industry Context
The filing of a Schedule 13G by a major asset manager like FMR LLC for a therapeutics company is a common occurrence in the biotechnology and pharmaceutical sectors, where institutional investment plays a crucial role in funding research, development, and commercialization efforts. Large passive stakes often reflect long-term confidence in a company's pipeline or market position, aligning with typical investment strategies in this capital-intensive industry.
Comparison to Industry Standards
- NA
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
Legal Proceedings
- NA
Related Party Transactions
- NA
Stakeholder Impact
- Shareholders may view the significant stake held by FMR LLC and Abigail P. Johnson as a positive signal, potentially increasing investor confidence in Cargo Therapeutics Inc.
Next Steps
- NA
Key Dates
| Date | Description |
|---|---|
| 01/03/2023 | Effective date of Power of Attorney for FMR LLC. |
| 01/10/2023 | Date of Schedule 13G filing by FMR LLC (accession number -23-000003) where FMR LLC's Power of Attorney is incorporated by reference. |
| 01/26/2023 | Effective date of Power of Attorney for Abigail P. Johnson. |
| 01/31/2023 | Date of Schedule 13G filing by FMR LLC (accession number -23-000038) where Abigail P. Johnson's Power of Attorney is incorporated by reference. |
| 03/31/2025 | Date of event which requires filing of this statement (reporting date for beneficial ownership). |
| 05/09/2025 | Date of filing of this Schedule 13G Amendment No. 2. |
Keywords
Cargo Therapeutics Inc., FMR LLC, Abigail P. Johnson, Schedule 13G, beneficial ownership, common stock, institutional investment, passive stake, SEC filing, biotechnology, pharmaceuticals
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