MYDA Advisors LLC Takes $122,000 Position in CARGO Therapeutics, Inc. $CRGX

MYDA Advisors LLC purchased a new position in shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX) during the 1st quarter, Holdings Channel.com reports. The fund purchased 30,000 shares of the company’s stock, valued at approximately $122,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. MetLife Investment Management LLC grew its holdings in CARGO Therapeutics by 16.2% during the fourth quarter. MetLife Investment Management LLC now owns 23,039 shares of the company’s stock worth $332,000 after purchasing an additional 3,206 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in CARGO Therapeutics by 31.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,832 shares of the company’s stock valued at $214,000 after acquiring an additional 3,570 shares during the period. JPMorgan Chase & Co. lifted its holdings in CARGO Therapeutics by 27.0% during the 4th quarter. JPMorgan Chase & Co. now owns 19,066 shares of the company’s stock valued at $275,000 after purchasing an additional 4,059 shares during the last quarter. Wells Fargo & Company MN boosted its position in CARGO Therapeutics by 29.5% during the fourth quarter. Wells Fargo & Company MN now owns 19,740 shares of the company’s stock worth $285,000 after purchasing an additional 4,497 shares during the period. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of CARGO Therapeutics by 22.0% in the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 26,899 shares of the company’s stock valued at $388,000 after purchasing an additional 4,851 shares during the period. 93.16% of the stock is owned by institutional investors.

CARGO Therapeutics Price Performance

CRGX opened at $4.47 on Thursday. The stock has a market capitalization of $216.17 million, a price-to-earnings ratio of -0.96 and a beta of 0.30. The company has a 50-day simple moving average of $4.45 and a 200 day simple moving average of $4.25. CARGO Therapeutics, Inc. has a twelve month low of $3.00 and a twelve month high of $25.45.

Analysts Set New Price Targets

CRGX has been the subject of several research reports. Jefferies Financial Group raised their price objective 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. Wall Street Zen raised CARGO Therapeutics to a “sell” rating in a report on Friday, August 22nd. Six investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $15.40.

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.