Trv Gp Vi LLC Takes Position in CARGO Therapeutics, Inc. (NASDAQ:CRGX)

Trv Gp Vi LLC acquired a new position in CARGO Therapeutics, Inc. (NASDAQ:CRGX) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 1,867,119 shares of the company’s stock, valued at approximately $26,924,000. CARGO Therapeutics accounts for 23.0% of Trv Gp Vi LLC’s holdings, making the stock its 2nd biggest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wellington Management Group LLP raised its stake in shares of CARGO Therapeutics by 7.2% in the 4th quarter. Wellington Management Group LLP now owns 2,190,811 shares of the company’s stock worth $31,591,000 after buying an additional 148,088 shares in the last quarter. Vanguard Group Inc. grew its holdings in CARGO Therapeutics by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 2,084,515 shares of the company’s stock worth $30,059,000 after acquiring an additional 22,286 shares during the period. Geode Capital Management LLC raised its position in CARGO Therapeutics by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 854,067 shares of the company’s stock worth $12,319,000 after acquiring an additional 15,788 shares in the last quarter. State Street Corp lifted its holdings in CARGO Therapeutics by 11.7% in the 3rd 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 during the last quarter. Finally, Barclays PLC boosted its position in shares of 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. Institutional investors own 93.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. JPMorgan Chase & Co. downgraded shares of CARGO Therapeutics from an “overweight” rating to an “underweight” rating in a report on Thursday, January 30th. 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 report on Thursday, January 30th. Truist Financial lowered CARGO Therapeutics from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $32.00 to $7.00 in a research note on Thursday, January 30th. Chardan Capital lowered CARGO Therapeutics from a “buy” rating to a “neutral” rating in a research report on Thursday, January 30th. Finally, HC Wainwright lowered CARGO Therapeutics from a “buy” rating to a “neutral” rating in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $15.00.

CARGO Therapeutics Price Performance

Shares of NASDAQ:CRGX opened at $4.64 on Friday. The company’s fifty day moving average is $4.02 and its two-hundred day moving average is $11.61. 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.

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.