OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $388,000 Holdings in CARGO Therapeutics, Inc. (NASDAQ:CRGX)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in CARGO Therapeutics, Inc. (NASDAQ:CRGX) by 22.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,899 shares of the company’s stock after acquiring an additional 4,851 shares during the quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in CARGO Therapeutics were worth $388,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Janus Henderson Group PLC lifted its holdings in shares of CARGO Therapeutics by 5.8% in the fourth 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 CARGO Therapeutics by 7.2% during the fourth quarter. Wellington Management Group LLP now owns 2,190,811 shares of the company’s stock valued at $31,591,000 after buying an additional 148,088 shares during the period. Vanguard Group Inc. lifted its stake in CARGO Therapeutics by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 2,084,515 shares of the company’s stock worth $30,059,000 after acquiring an additional 22,286 shares in the last quarter. TRV GP VI LLC purchased a new stake in CARGO Therapeutics in the 4th quarter worth about $26,924,000. Finally, TRV GP V LLC acquired a new stake in CARGO Therapeutics during the 4th quarter worth about $25,051,000. Hedge funds and other institutional investors own 93.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CRGX. JPMorgan Chase & Co. lowered shares of CARGO Therapeutics from an “overweight” rating to an “underweight” rating in a research report on Thursday, January 30th. William Blair lowered shares of CARGO Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 30th. HC Wainwright downgraded shares of CARGO Therapeutics from a “buy” rating to a “neutral” rating in a research note on Thursday, January 30th. Jefferies Financial Group cut CARGO Therapeutics from a “buy” rating to a “hold” rating and reduced their price objective for the company from $32.00 to $3.00 in a research report on Thursday, January 30th. Finally, Truist Financial lowered CARGO Therapeutics from a “buy” rating to a “hold” rating and dropped their target price for the stock from $32.00 to $7.00 in a research report 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $15.00.

CARGO Therapeutics Stock Down 2.5%

Shares of CRGX opened at $3.97 on Wednesday. The firm has a market cap of $183.06 million, a price-to-earnings ratio of -0.93 and a beta of 0.47. The company’s fifty day moving average is $4.22 and its 200-day moving average is $9.73. CARGO Therapeutics, Inc. has a 12 month low of $3.00 and a 12 month high of $25.45.

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.