Trv Gp Vi LLC Purchases Shares of 1,867,119 CARGO Therapeutics, Inc. (NASDAQ:CRGX)

TRV GP VI LLC acquired a new position in CARGO Therapeutics, Inc. (NASDAQ:CRGX - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,867,119 shares of the company's stock, valued at approximately $26,924,000. CARGO Therapeutics accounts for about 23.0% of TRV GP VI LLC's holdings, making the stock its 2nd largest position. TRV GP VI LLC owned 4.06% of CARGO Therapeutics as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Brooklyn Investment Group bought a new position in shares of CARGO Therapeutics in the fourth quarter valued at approximately $27,000. China Universal Asset Management Co. Ltd. purchased a new stake in CARGO Therapeutics in the 4th quarter worth approximately $141,000. Invesco Ltd. bought a new position in CARGO Therapeutics in the 4th quarter valued at $165,000. Intech Investment Management LLC purchased a new position in shares of CARGO Therapeutics during the 4th quarter valued at $181,000. Finally, ExodusPoint Capital Management LP bought a new position in shares of CARGO Therapeutics in the fourth quarter worth $183,000. 93.16% of the stock is currently owned by hedge funds and other institutional investors.

CARGO Therapeutics Stock Performance

NASDAQ:CRGX traded down $0.02 during trading hours on Thursday, reaching $4.53. The company's stock had a trading volume of 382,529 shares, compared to its average volume of 502,955. The firm has a 50-day simple moving average of $4.08 and a 200-day simple moving average of $11.38. CARGO Therapeutics, Inc. has a 1 year low of $3.00 and a 1 year high of $25.45. The firm has a market capitalization of $208.62 million, a price-to-earnings ratio of -1.06 and a beta of 0.66.

Analyst Upgrades and Downgrades

Several research firms recently commented on CRGX. HC Wainwright cut CARGO Therapeutics from a "buy" rating to a "neutral" rating in a research report 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. Chardan Capital downgraded shares of CARGO Therapeutics from a "buy" rating to a "neutral" rating in a research note on Thursday, January 30th. Piper Sandler lowered shares of CARGO Therapeutics from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $34.00 to $4.00 in a research report on Thursday, January 30th. Finally, Jefferies Financial Group lowered shares of CARGO Therapeutics from a "buy" rating to a "hold" rating and decreased their price target for the stock from $32.00 to $3.00 in a report on Thursday, January 30th. One 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, the stock has a consensus rating of "Hold" and a consensus price target of $15.00.

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.