Intech Investment Management LLC Takes $181,000 Position in CARGO Therapeutics, Inc. (NASDAQ:CRGX)

Intech Investment Management LLC bought a new position in CARGO Therapeutics, Inc. (NASDAQ:CRGX) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 12,537 shares of the company’s stock, valued at approximately $181,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new position in shares of CARGO Therapeutics in the fourth quarter worth approximately $27,000. China Universal Asset Management Co. Ltd. bought a new position in CARGO Therapeutics in the 4th quarter worth $141,000. BNP Paribas Financial Markets increased its stake in CARGO Therapeutics by 437.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,438 shares of the company’s stock worth $211,000 after buying an additional 9,311 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in CARGO Therapeutics by 74.9% during the third quarter. JPMorgan Chase & Co. now owns 15,007 shares of the company’s stock valued at $277,000 after acquiring an additional 6,426 shares during the period. Finally, MetLife Investment Management LLC lifted its position in shares of CARGO Therapeutics by 59.3% in the third quarter. MetLife Investment Management LLC now owns 19,833 shares of the company’s stock valued at $366,000 after acquiring an additional 7,380 shares in the last quarter. Institutional investors own 93.16% of the company’s stock.

CARGO Therapeutics Stock Performance

Shares of CRGX opened at $4.17 on Friday. CARGO Therapeutics, Inc. has a fifty-two week low of $3.00 and a fifty-two week high of $25.45. The company’s fifty day moving average is $5.51 and its 200 day moving average is $13.71. The stock has a market capitalization of $192.04 million, a PE ratio of -0.98 and a beta of 1.65.

Analyst Ratings Changes

Several analysts recently issued reports on the company. William Blair cut CARGO Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. lowered shares of CARGO Therapeutics from an “overweight” rating to an “underweight” rating in a report on Thursday, January 30th. Truist Financial downgraded shares of CARGO Therapeutics from a “buy” rating to a “hold” rating and lowered their target price for the stock from $32.00 to $7.00 in a report on Thursday, January 30th. Jefferies Financial Group cut shares of CARGO Therapeutics from a “buy” rating to a “hold” rating and cut their target price for the company from $32.00 to $3.00 in a research note on Thursday, January 30th. Finally, HC Wainwright cut shares of CARGO Therapeutics from a “buy” rating to a “neutral” rating in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat.com, CARGO Therapeutics presently has an average rating of “Hold” and a consensus target price of $15.00.

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.