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 bought a new position in CARGO Therapeutics, Inc. (NASDAQ:CRGX - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 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 SEC filing.

Several other hedge funds have also bought and sold shares of the business. RTW Investments LP raised its position in CARGO Therapeutics by 0.6% in the fourth quarter. RTW Investments LP now owns 4,124,859 shares of the company's stock worth $59,480,000 after acquiring an additional 25,904 shares during the period. Janus Henderson Group PLC increased its holdings in CARGO Therapeutics by 5.8% during the 4th quarter. Janus Henderson Group PLC now owns 2,830,544 shares of the company's stock worth $40,859,000 after acquiring an additional 155,259 shares during the period. Wellington Management Group LLP increased its stake in CARGO Therapeutics by 7.2% in the 4th quarter. Wellington Management Group LLP now owns 2,190,811 shares of the company's stock worth $31,591,000 after acquiring an additional 148,088 shares during the last quarter. Red Tree Management LLC purchased a new position in shares of CARGO Therapeutics during the fourth quarter worth about $30,293,000. Finally, Vanguard Group Inc. raised its stake in CARGO Therapeutics by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 2,084,515 shares of the company's stock valued at $30,059,000 after purchasing an additional 22,286 shares in the last quarter. Institutional investors and hedge funds own 93.16% of the company's stock.

CARGO Therapeutics Stock Performance

NASDAQ:CRGX traded up $0.02 during mid-day trading 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 firm has a 50 day moving average price of $4.41 and a two-hundred day moving average price of $4.89. The stock has a market capitalization of $207.03 million, a P/E ratio of -0.97 and a beta of 0.30. CARGO Therapeutics, Inc. has a one year low of $3.00 and a one year high of $25.45.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group upped their target price on shares of CARGO Therapeutics from $3.70 to $5.00 and gave the stock a "hold" rating in a research report on Tuesday, July 8th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $15.40.

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.