12,537 Shares in CARGO Therapeutics, Inc. (NASDAQ:CRGX) Purchased by Intech Investment Management LLC

Intech Investment Management LLC purchased a new stake in shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 12,537 shares of the company’s stock, valued at approximately $181,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new position in shares of CARGO Therapeutics during the fourth quarter valued at approximately $27,000. Swiss National Bank grew its position in CARGO Therapeutics by 17.2% in the 4th quarter. Swiss National Bank now owns 36,100 shares of the company’s stock valued at $521,000 after acquiring an additional 5,300 shares during the last quarter. JPMorgan Chase & Co. increased its stake in CARGO Therapeutics by 74.9% in the third quarter. JPMorgan Chase & Co. now owns 15,007 shares of the company’s stock worth $277,000 after purchasing an additional 6,426 shares during the period. MetLife Investment Management LLC lifted its position in shares of CARGO Therapeutics by 59.3% during the third quarter. MetLife Investment Management LLC now owns 19,833 shares of the company’s stock worth $366,000 after purchasing an additional 7,380 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of CARGO Therapeutics by 437.8% during the third 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 during the period. 93.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. William Blair lowered shares of 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. Jefferies Financial Group cut CARGO Therapeutics from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $32.00 to $3.00 in a research note on Thursday, January 30th. Piper Sandler lowered CARGO Therapeutics from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $34.00 to $4.00 in a research report on Thursday, January 30th. Finally, Truist Financial downgraded CARGO Therapeutics from a “buy” rating to a “hold” rating and dropped their price target for the stock from $32.00 to $7.00 in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat, CARGO Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $15.00.

CARGO Therapeutics Stock Up 3.2 %

CARGO Therapeutics stock opened at $4.17 on Friday. CARGO Therapeutics, Inc. has a twelve month low of $3.00 and a twelve month high of $25.45. The business has a fifty day moving average of $5.51 and a two-hundred day moving average of $13.71. The firm has a market cap of $192.04 million, a P/E ratio of -0.98 and a beta of 1.65.

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.