1,867,119 Shares in CARGO Therapeutics, Inc. (NASDAQ:CRGX) Acquired by Trv Gp Vi LLC

Trv Gp Vi LLC acquired a new stake in CARGO Therapeutics, Inc. (NASDAQ:CRGX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,867,119 shares of the company’s stock, valued at approximately $26,924,000. CARGO Therapeutics makes up approximately 23.0% of Trv Gp Vi LLC’s portfolio, making the stock its 2nd biggest position. Trv Gp Vi LLC owned 4.06% of CARGO Therapeutics at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. MetLife Investment Management LLC increased its position in shares of CARGO Therapeutics by 16.2% during the fourth quarter. MetLife Investment Management LLC now owns 23,039 shares of the company’s stock worth $332,000 after acquiring an additional 3,206 shares during the last quarter. Barclays PLC grew its stake in CARGO Therapeutics by 14.3% during the 4th quarter. Barclays PLC now owns 64,436 shares of the company’s stock valued at $929,000 after purchasing an additional 8,082 shares in the last quarter. Invesco Ltd. purchased a new stake in CARGO Therapeutics during the 4th quarter worth approximately $165,000. Wells Fargo & Company MN raised its position in shares of CARGO Therapeutics by 29.5% in the 4th quarter. Wells Fargo & Company MN now owns 19,740 shares of the company’s stock valued at $285,000 after purchasing an additional 4,497 shares in the last quarter. Finally, ExodusPoint Capital Management LP purchased a new position in shares of CARGO Therapeutics during the 4th quarter valued at approximately $183,000. Hedge funds and other institutional investors own 93.16% of the company’s stock.

CARGO Therapeutics Price Performance

Shares of CRGX opened at $4.64 on Friday. The company has a market cap of $213.68 million, a P/E ratio of -1.09 and a beta of 0.66. CARGO Therapeutics, Inc. has a 12 month low of $3.00 and a 12 month high of $25.45. The stock has a fifty day moving average price of $4.02 and a 200 day moving average price of $11.61.

Analysts Set New Price Targets

CRGX has been the subject of a number of research analyst reports. Piper Sandler lowered shares of CARGO Therapeutics from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $34.00 to $4.00 in a research note on Thursday, January 30th. Truist Financial lowered shares of CARGO Therapeutics from a “buy” rating to a “hold” rating and cut their target price for the company from $32.00 to $7.00 in a research note on Thursday, January 30th. William Blair lowered CARGO Therapeutics from an “outperform” rating to a “market perform” rating in a report on Thursday, January 30th. HC Wainwright downgraded CARGO Therapeutics from a “buy” rating to a “neutral” rating in a report on Thursday, January 30th. Finally, Jefferies Financial Group lowered CARGO Therapeutics from a “buy” rating to a “hold” rating and dropped their price target for the company from $32.00 to $3.00 in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $15.00.

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.