Wellington Management Group LLP Increases Stake in CARGO Therapeutics, Inc. (NASDAQ:CRGX)

Wellington Management Group LLP boosted its stake in CARGO Therapeutics, Inc. (NASDAQ:CRGX - Free Report) by 7.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,190,811 shares of the company's stock after purchasing an additional 148,088 shares during the quarter. Wellington Management Group LLP owned approximately 4.76% of CARGO Therapeutics worth $31,591,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new stake in shares of CARGO Therapeutics in the fourth quarter worth about $27,000. JPMorgan Chase & Co. increased its holdings in CARGO Therapeutics by 27.0% during the 4th quarter. JPMorgan Chase & Co. now owns 19,066 shares of the company's stock worth $275,000 after acquiring an additional 4,059 shares during the period. Swiss National Bank lifted its stake in CARGO Therapeutics by 17.2% in the 4th quarter. Swiss National Bank now owns 36,100 shares of the company's stock worth $521,000 after purchasing an additional 5,300 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in CARGO Therapeutics by 59.3% in the 3rd quarter. MetLife Investment Management LLC now owns 19,833 shares of the company's stock valued at $366,000 after purchasing an additional 7,380 shares during the period. Finally, BNP Paribas Financial Markets grew its position in shares of CARGO Therapeutics by 437.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,438 shares of the company's stock valued at $211,000 after purchasing an additional 9,311 shares in the last quarter. Hedge funds and other institutional investors own 93.16% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CRGX shares. Piper Sandler downgraded CARGO Therapeutics from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $34.00 to $4.00 in a research report on Thursday, January 30th. William Blair cut CARGO Therapeutics from an "outperform" rating to a "market perform" rating in a report on Thursday, January 30th. Chardan Capital lowered CARGO Therapeutics from a "buy" rating to a "neutral" rating in a report on Thursday, January 30th. Jefferies Financial Group cut shares of CARGO Therapeutics from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $32.00 to $3.00 in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. lowered shares of CARGO Therapeutics from an "overweight" rating to an "underweight" rating in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $15.00.

CARGO Therapeutics Stock Up 4.7 %

Shares of CARGO Therapeutics stock traded up $0.19 during trading on Friday, hitting $4.26. 1,021,578 shares of the stock traded hands, compared to its average volume of 474,910. The firm's fifty day moving average is $3.92 and its 200-day moving average is $12.08. The stock has a market cap of $196.18 million, a price-to-earnings ratio of -1.00 and a beta of 0.66. CARGO Therapeutics, Inc. has a 52 week low of $3.00 and a 52 week 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.