Trv Gp V LLC Invests $25.05 Million in CARGO Therapeutics, Inc. (NASDAQ:CRGX)

Trv Gp V LLC purchased a new stake in CARGO Therapeutics, Inc. (NASDAQ:CRGX) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,737,216 shares of the company’s stock, valued at approximately $25,051,000. CARGO Therapeutics makes up approximately 8.5% of Trv Gp V LLC’s investment portfolio, making the stock its 3rd biggest holding.

Several other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in CARGO Therapeutics by 11.7% in the third quarter. State Street Corp now owns 839,861 shares of the company’s stock valued at $15,495,000 after acquiring an additional 88,000 shares in the last quarter. Barclays PLC lifted its holdings in shares of CARGO Therapeutics by 226.7% in the 3rd quarter. Barclays PLC now owns 56,354 shares of the company’s stock valued at $1,039,000 after purchasing an additional 39,102 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of CARGO Therapeutics by 80.6% in the 3rd quarter. Geode Capital Management LLC now owns 838,279 shares of the company’s stock valued at $15,469,000 after purchasing an additional 374,018 shares during the period. JPMorgan Chase & Co. grew its stake in CARGO Therapeutics by 74.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,007 shares of the company’s stock worth $277,000 after buying an additional 6,426 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in CARGO Therapeutics during the fourth quarter worth approximately $27,000. 93.16% of the stock is currently owned by hedge funds and other institutional investors.

CARGO Therapeutics Price Performance

Shares of NASDAQ:CRGX opened at $4.64 on Friday. CARGO Therapeutics, Inc. has a fifty-two week low of $3.00 and a fifty-two week high of $25.45. The firm’s 50-day simple moving average is $4.02 and its 200-day simple moving average is $11.61. The company has a market cap of $213.68 million, a price-to-earnings ratio of -1.09 and a beta of 0.66.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CRGX. Chardan Capital downgraded CARGO Therapeutics from a “buy” rating to a “neutral” rating in a report on Thursday, January 30th. HC Wainwright cut shares of CARGO Therapeutics from a “buy” rating to a “neutral” rating in a research note on Thursday, January 30th. William Blair lowered shares of CARGO Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. downgraded shares of CARGO Therapeutics from an “overweight” rating to an “underweight” rating in a research note on Thursday, January 30th. Finally, Jefferies Financial Group cut 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 assigned a hold rating to the company’s stock. Based on data from MarketBeat, CARGO Therapeutics presently has an average rating of “Hold” and an average 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.