1,100,000 Shares in CARGO Therapeutics, Inc. $CRGX Bought by Nantahala Capital Management LLC

Nantahala Capital Management LLC bought a new position in shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,100,000 shares of the company’s stock, valued at approximately $4,477,000. Nantahala Capital Management LLC owned about 2.39% of CARGO Therapeutics at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. RTW Investments LP raised its position in CARGO Therapeutics by 0.6% during the fourth quarter. RTW Investments LP now owns 4,124,859 shares of the company’s stock worth $59,480,000 after acquiring an additional 25,904 shares in the last quarter. Janus Henderson Group PLC raised its position in CARGO Therapeutics by 5.8% during the fourth quarter. Janus Henderson Group PLC now owns 2,830,544 shares of the company’s stock worth $40,859,000 after acquiring 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 worth $31,591,000 after acquiring an additional 148,088 shares in the last quarter. Red Tree Management LLC bought a new stake in CARGO Therapeutics during the fourth quarter worth $30,293,000. Finally, Northern Trust Corp raised its position in CARGO Therapeutics by 3.1% during the fourth quarter. Northern Trust Corp now owns 307,543 shares of the company’s stock worth $4,435,000 after acquiring an additional 9,278 shares in the last quarter. 93.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CRGX has been the topic of several analyst reports. Wall Street Zen raised shares of CARGO Therapeutics to a “sell” rating in a research report on Friday, August 22nd. Jefferies Financial Group upped their price target on shares of CARGO Therapeutics from $3.70 to $5.00 and gave the stock a “hold” rating in a research report on Tuesday, July 8th. Six equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $15.40.

CARGO Therapeutics Stock Performance

NASDAQ:CRGX opened at $4.47 on Monday. CARGO Therapeutics, Inc. has a 52 week low of $3.00 and a 52 week high of $25.45. The firm has a market cap of $216.17 million, a price-to-earnings ratio of -0.96 and a beta of 0.30. The firm’s 50-day simple moving average is $4.45 and its 200 day simple moving average is $4.27.

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.