CARGO Therapeutics, Inc. (NASDAQ:CRGX) Shares Acquired by Swiss National Bank

Swiss National Bank increased its stake in shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX) by 17.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,100 shares of the company’s stock after acquiring an additional 5,300 shares during the period. Swiss National Bank’s holdings in CARGO Therapeutics were worth $521,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. Brooklyn Investment Group purchased a new position in CARGO Therapeutics in the fourth quarter valued at $27,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of CARGO Therapeutics in the 4th quarter valued at about $141,000. BNP Paribas Financial Markets raised its holdings 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 purchasing an additional 9,311 shares during the period. JPMorgan Chase & Co. boosted its position in CARGO Therapeutics by 74.9% during the third quarter. JPMorgan Chase & Co. now owns 15,007 shares of the company’s stock worth $277,000 after purchasing an additional 6,426 shares in the last quarter. Finally, MetLife Investment Management LLC grew its holdings in 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 purchasing an additional 7,380 shares during the period. 93.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CRGX shares. HC Wainwright downgraded CARGO Therapeutics from a “buy” rating to a “neutral” rating in a research note on Thursday, January 30th. Truist Financial cut shares of CARGO Therapeutics from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $32.00 to $7.00 in a research report on Thursday, January 30th. Piper Sandler downgraded shares of CARGO Therapeutics from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $34.00 to $4.00 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 stock from $32.00 to $3.00 in a research note on Thursday, January 30th. Finally, William Blair lowered CARGO Therapeutics from an “outperform” rating to a “market perform” 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $15.00.

CARGO Therapeutics Price Performance

NASDAQ:CRGX opened at $4.18 on Monday. The firm has a market capitalization of $192.50 million, a price-to-earnings ratio of -0.98 and a beta of 1.65. CARGO Therapeutics, Inc. has a 1-year low of $3.00 and a 1-year high of $25.45. The company’s 50-day moving average is $5.35 and its two-hundred day moving average is $13.47.

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.