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

TRV GP V LLC bought a new position in shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,737,216 shares of the company's stock, valued at approximately $25,051,000. CARGO Therapeutics makes up about 8.5% of TRV GP V LLC's investment portfolio, making the stock its 3rd largest holding. TRV GP V LLC owned 3.77% of CARGO Therapeutics at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. State Street Corp raised its stake in CARGO Therapeutics by 11.7% during the 3rd quarter. State Street Corp now owns 839,861 shares of the company's stock worth $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 grew its stake in CARGO Therapeutics by 80.6% during the 3rd quarter. Geode Capital Management LLC now owns 838,279 shares of the company's stock worth $15,469,000 after buying an additional 374,018 shares during the last quarter. JPMorgan Chase & Co. increased its position in CARGO Therapeutics by 74.9% during the third 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 period. Finally, Brooklyn Investment Group purchased a new stake in CARGO Therapeutics in the fourth quarter valued at approximately $27,000. Hedge funds and other institutional investors own 93.16% of the company's stock.

Analysts Set New Price Targets

CRGX has been the topic of a number of recent research reports. Piper Sandler cut shares of CARGO Therapeutics from an "overweight" rating to a "neutral" rating and cut their target price for the company from $34.00 to $4.00 in a 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 cut CARGO Therapeutics from a "buy" rating to a "neutral" rating in a research report on Thursday, January 30th. HC Wainwright cut shares of CARGO Therapeutics from a "buy" rating to a "neutral" rating in a report on Thursday, January 30th. Finally, Jefferies Financial Group cut shares of CARGO Therapeutics from a "buy" rating to a "hold" rating and lowered their price target for the stock from $32.00 to $3.00 in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $15.00.

CARGO Therapeutics Trading Down 1.1 %

Shares of CRGX traded down $0.05 during midday trading on Wednesday, reaching $4.55. 755,830 shares of the company were exchanged, compared to its average volume of 503,437. The stock has a 50-day moving average price of $4.06 and a 200-day moving average price of $11.43. The company has a market cap of $209.54 million, a price-to-earnings ratio of -1.07 and a beta of 0.66. CARGO Therapeutics, Inc. has a 1-year low of $3.00 and a 1-year 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.