Tower Research Capital LLC TRC Increases Stake in CARGO Therapeutics, Inc. (NASDAQ:CRGX)

Tower Research Capital LLC TRC lifted its stake in CARGO Therapeutics, Inc. (NASDAQ:CRGX) by 565.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,800 shares of the company’s stock after buying an additional 4,929 shares during the quarter. Tower Research Capital LLC TRC’s holdings in CARGO Therapeutics were worth $84,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CRGX. American Century Companies Inc. purchased a new stake in CARGO Therapeutics in the 4th quarter worth $474,000. Barclays PLC increased its holdings in shares of CARGO Therapeutics by 226.7% in the third quarter. Barclays PLC now owns 56,354 shares of the company’s stock worth $1,039,000 after purchasing an additional 39,102 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of CARGO Therapeutics by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 2,084,515 shares of the company’s stock worth $30,059,000 after buying an additional 22,286 shares in the last quarter. JPMorgan Chase & Co. boosted its stake 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 buying an additional 6,426 shares during the last quarter. Finally, MetLife Investment Management LLC grew its holdings in CARGO Therapeutics by 16.2% during the 4th quarter. MetLife Investment Management LLC now owns 23,039 shares of the company’s stock valued at $332,000 after buying an additional 3,206 shares in the last quarter. Institutional investors own 93.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CRGX shares. Jefferies Financial Group downgraded CARGO Therapeutics from a “buy” rating to a “hold” rating and lowered their target price for the company from $32.00 to $3.00 in a research report on Thursday, January 30th. Chardan Capital cut shares of CARGO Therapeutics from a “buy” rating to a “neutral” rating in a research note on Thursday, January 30th. William Blair downgraded shares of CARGO Therapeutics from an “outperform” rating to a “market perform” rating 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. Finally, Piper Sandler cut CARGO Therapeutics from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $34.00 to $4.00 in a research note on Thursday, January 30th. One research 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, the company currently has an average rating of “Hold” and a consensus target price of $15.00.

CARGO Therapeutics Trading Down 2.4 %

CRGX stock opened at $4.02 on Friday. CARGO Therapeutics, Inc. has a 12 month low of $3.00 and a 12 month high of $25.45. The stock has a market cap of $185.36 million, a PE ratio of -0.94 and a beta of 0.47. The company has a 50-day moving average price of $4.21 and a 200 day moving average price of $10.04.

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.