Nuveen LLC Buys Shares of 75,929 CARGO Therapeutics, Inc. $CRGX

Nuveen LLC bought a new stake in CARGO Therapeutics, Inc. (NASDAQ:CRGX) during the first quarter, HoldingsChannel.com reports. The institutional investor bought 75,929 shares of the company’s stock, valued at approximately $309,000.

A number of other institutional investors also recently made changes to their positions in CRGX. Red Tree Management LLC acquired a new position in shares of CARGO Therapeutics in the 4th quarter valued at approximately $30,293,000. Peapod Lane Capital LLC acquired a new position in shares of CARGO Therapeutics in the 1st quarter valued at approximately $892,000. Janus Henderson Group PLC raised its position in shares of CARGO Therapeutics by 5.8% in the 4th quarter. Janus Henderson Group PLC now owns 2,830,544 shares of the company’s stock valued at $40,859,000 after purchasing an additional 155,259 shares in the last quarter. Wellington Management Group LLP raised its position in shares of CARGO Therapeutics by 7.2% in the 4th quarter. Wellington Management Group LLP now owns 2,190,811 shares of the company’s stock valued at $31,591,000 after purchasing an additional 148,088 shares in the last quarter. Finally, Monaco Asset Management SAM acquired a new position in CARGO Therapeutics in the first quarter worth about $566,000. 93.16% of the stock is owned by institutional investors and hedge funds.

CARGO Therapeutics Price Performance

Shares of CRGX stock opened at $4.47 on Friday. The business has a 50 day moving average of $4.48 and a two-hundred day moving average of $4.29. CARGO Therapeutics, Inc. has a 52 week low of $3.00 and a 52 week high of $25.45. The company has a market cap of $216.17 million, a P/E ratio of -0.96 and a beta of 0.30.

Analysts Set New Price Targets

A number of research firms recently commented on CRGX. Wall Street Zen upgraded CARGO Therapeutics to a “sell” rating in a research note on Friday, August 22nd. Jefferies Financial Group lifted their price target on CARGO Therapeutics from $3.70 to $5.00 and gave the stock a “hold” rating in a research note on Tuesday, July 8th. Six analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $15.40.

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.