Trv Gp V LLC Takes Position in CARGO Therapeutics, Inc. (NASDAQ:CRGX)

TRV GP V LLC bought a new position in CARGO Therapeutics, Inc. (NASDAQ:CRGX - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,737,216 shares of the company's stock, valued at approximately $25,051,000. CARGO Therapeutics comprises about 8.5% of TRV GP V LLC's investment portfolio, making the stock its 3rd largest position. TRV GP V LLC owned approximately 3.77% of CARGO Therapeutics as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CRGX. Brooklyn Investment Group acquired a new stake in CARGO Therapeutics in the 4th quarter valued at approximately $27,000. MetLife Investment Management LLC grew its stake in shares of CARGO Therapeutics by 16.2% in the fourth 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. JPMorgan Chase & Co. increased its holdings in shares of CARGO Therapeutics by 27.0% during the fourth quarter. JPMorgan Chase & Co. now owns 19,066 shares of the company's stock valued at $275,000 after purchasing an additional 4,059 shares during the period. Wells Fargo & Company MN raised its stake in shares of CARGO Therapeutics by 29.5% during the fourth quarter. Wells Fargo & Company MN now owns 19,740 shares of the company's stock valued at $285,000 after purchasing an additional 4,497 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in CARGO Therapeutics by 17.2% in the fourth quarter. Swiss National Bank now owns 36,100 shares of the company's stock worth $521,000 after purchasing an additional 5,300 shares during the period. Institutional investors and hedge funds own 93.16% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on CRGX. Chardan Capital cut shares of CARGO Therapeutics from a "buy" rating to a "neutral" rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. lowered shares of CARGO Therapeutics from an "overweight" rating to an "underweight" rating in a research note on Thursday, January 30th. William Blair downgraded CARGO Therapeutics from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 30th. Truist Financial cut CARGO Therapeutics from a "buy" rating to a "hold" rating and lowered their price target for the company from $32.00 to $7.00 in a research report on Thursday, January 30th. Finally, Jefferies Financial Group lowered CARGO Therapeutics from a "buy" rating to a "hold" rating and cut their price objective for the company from $32.00 to $3.00 in a 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, CARGO Therapeutics currently has an average rating of "Hold" and an average target price of $15.00.

CARGO Therapeutics Stock Performance

Shares of NASDAQ CRGX traded down $0.02 during trading on Friday, hitting $4.51. The company had a trading volume of 201,675 shares, compared to its average volume of 502,992. CARGO Therapeutics, Inc. has a 52 week low of $3.00 and a 52 week high of $25.45. The business's 50-day moving average is $4.10 and its 200 day moving average is $11.28. The company has a market cap of $207.74 million, a P/E ratio of -1.06 and a beta of 0.66.

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.