Monaco Asset Management SAM Takes Position in CARGO Therapeutics, Inc. (NASDAQ:CRGX)

Key Points

• Monaco Asset Management SAM has acquired 139,028 shares of CARGO Therapeutics, valued at approximately $566,000, representing about 0.30% of the company.
• Multiple institutional investors have modified their holdings in CARGO Therapeutics, with 93.16% of the company's stock currently owned by such investors.
• Jefferies Financial Group recently raised its price target for CARGO Therapeutics from $3.70 to $5.00, maintaining a "hold" rating amid varied analyst opinions on the stock.

Monaco Asset Management SAM acquired a new stake in shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 139,028 shares of the company's stock, valued at approximately $566,000. Monaco Asset Management SAM owned approximately 0.30% of CARGO Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. MetLife Investment Management LLC grew its stake in shares of CARGO Therapeutics by 16.2% during the 4th quarter. MetLife Investment Management LLC now owns 23,039 shares of the company's stock valued at $332,000 after purchasing an additional 3,206 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of CARGO Therapeutics by 31.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,832 shares of the company's stock worth $214,000 after buying an additional 3,570 shares during the period. JPMorgan Chase & Co. raised its stake in shares of CARGO Therapeutics by 27.0% in the fourth quarter. JPMorgan Chase & Co. now owns 19,066 shares of the company's stock worth $275,000 after buying an additional 4,059 shares during the period. Wells Fargo & Company MN raised its stake in shares of CARGO Therapeutics by 29.5% in the fourth quarter. Wells Fargo & Company MN now owns 19,740 shares of the company's stock worth $285,000 after buying an additional 4,497 shares during the period. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of CARGO Therapeutics by 22.0% in the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 26,899 shares of the company's stock worth $388,000 after buying an additional 4,851 shares during the period. 93.16% of the stock is currently owned by institutional investors.

CARGO Therapeutics Price Performance

CARGO Therapeutics stock traded up $0.02 during trading hours on Friday, reaching $4.49. The stock had a trading volume of 673,476 shares, compared to its average volume of 3,178,377. The company has a market cap of $207.03 million, a price-to-earnings ratio of -0.97 and a beta of 0.30. The business's 50 day moving average price is $4.42 and its 200-day moving average price is $4.80. CARGO Therapeutics, Inc. has a 52 week low of $3.00 and a 52 week high of $25.45.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group raised their price objective on CARGO Therapeutics from $3.70 to $5.00 and gave the stock a "hold" rating in a research note on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat.com, CARGO Therapeutics currently has a consensus rating of "Hold" and a consensus target price of $15.40.

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.