Price T Rowe Associates Inc. MD Cuts Position in CARGO Therapeutics, Inc. (NASDAQ:CRGX)

Price T Rowe Associates Inc. MD reduced its position in CARGO Therapeutics, Inc. (NASDAQ:CRGX - Free Report) by 9.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,436,171 shares of the company's stock after selling 258,135 shares during the period. Price T Rowe Associates Inc. MD owned about 5.29% of CARGO Therapeutics worth $35,131,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its position in shares of CARGO Therapeutics by 565.9% in the fourth 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. TRV GP V LLC purchased a new stake in shares of CARGO Therapeutics in the fourth quarter valued at about $25,051,000. TRV GP VI LLC acquired a new stake in shares of CARGO Therapeutics in the fourth quarter valued at approximately $26,924,000. MetLife Investment Management LLC increased 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 worth $332,000 after purchasing an additional 3,206 shares in the last quarter. Finally, Barclays PLC raised its position in shares of CARGO Therapeutics by 14.3% during the 4th quarter. Barclays PLC now owns 64,436 shares of the company's stock worth $929,000 after purchasing an additional 8,082 shares during the last quarter. 93.16% of the stock is owned by institutional investors and hedge funds.

CARGO Therapeutics Price Performance

CRGX stock traded down $0.05 on Friday, hitting $4.32. 348,415 shares of the company were exchanged, compared to its average volume of 516,870. The stock 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. The business's fifty day moving average is $4.18 and its two-hundred day moving average is $10.56.

Wall Street Analyst Weigh In

CRGX has been the subject of several recent research reports. Jefferies Financial Group cut 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. JPMorgan Chase & Co. downgraded shares of CARGO Therapeutics from an "overweight" rating to an "underweight" rating in a report on Thursday, January 30th. HC Wainwright lowered shares of CARGO Therapeutics from a "buy" rating to a "neutral" rating in a research report on Thursday, January 30th. Piper Sandler cut shares of CARGO Therapeutics from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $34.00 to $4.00 in a research note on Thursday, January 30th. Finally, Chardan Capital lowered CARGO Therapeutics from a "buy" rating to a "neutral" rating in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company's stock. According to data from MarketBeat.com, CARGO Therapeutics currently has an average rating of "Hold" and a consensus target price of $15.00.

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.