Novo Holdings A S Increases Position in CARGO Therapeutics, Inc. (NASDAQ:CRGX)

Novo Holdings A S grew its stake in CARGO Therapeutics, Inc. (NASDAQ:CRGX - Free Report) by 7.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,663,724 shares of the company's stock after acquiring an additional 119,724 shares during the quarter. CARGO Therapeutics comprises about 1.5% of Novo Holdings A S's portfolio, making the stock its 19th biggest position. Novo Holdings A S owned approximately 3.61% of CARGO Therapeutics worth $23,991,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in CRGX. Brooklyn Investment Group purchased a new position in CARGO Therapeutics in the fourth quarter valued at about $27,000. Tower Research Capital LLC TRC boosted its holdings in shares of CARGO Therapeutics by 565.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,800 shares of the company's stock valued at $84,000 after buying an additional 4,929 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in shares of CARGO Therapeutics in the 4th quarter worth approximately $141,000. Invesco Ltd. bought a new position in shares of CARGO Therapeutics during the 4th quarter worth approximately $165,000. Finally, Intech Investment Management LLC purchased a new stake in CARGO Therapeutics during the fourth quarter valued at approximately $181,000. 93.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CRGX has been the topic of several analyst reports. Jefferies Financial Group lowered shares of CARGO Therapeutics from a "buy" rating to a "hold" rating and cut their price target for the stock from $32.00 to $3.00 in a report on Thursday, January 30th. Piper Sandler cut CARGO Therapeutics from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $34.00 to $4.00 in a research note on Thursday, January 30th. Chardan Capital lowered CARGO Therapeutics from a "buy" rating to a "neutral" rating in a research note on Thursday, January 30th. William Blair cut shares of CARGO Therapeutics from an "outperform" rating to a "market perform" rating in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. downgraded 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 assigned a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $15.00.

CARGO Therapeutics Stock Down 1.1 %

Shares of CARGO Therapeutics stock traded down $0.05 on Friday, reaching $4.32. 348,415 shares of the stock were exchanged, compared to its average volume of 516,870. The business has a 50 day moving average price of $4.18 and a two-hundred day moving average price of $10.56. The firm has a market capitalization of $198.94 million, a price-to-earnings ratio of -1.01 and a beta of 0.66. CARGO Therapeutics, Inc. has a twelve month low of $3.00 and a twelve month high of $25.45.

CARGO Therapeutics 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.