Sphera Funds Management LTD. Sells 10,832 Shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX)

Sphera Funds Management LTD. decreased its holdings in shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX) by 5.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 179,674 shares of the company’s stock after selling 10,832 shares during the quarter. Sphera Funds Management LTD. owned about 0.39% of CARGO Therapeutics worth $2,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. RTW Investments LP raised its holdings in CARGO Therapeutics by 0.6% during the 4th quarter. RTW Investments LP now owns 4,124,859 shares of the company’s stock valued at $59,480,000 after acquiring an additional 25,904 shares during the period. Janus Henderson Group PLC raised its holdings in CARGO Therapeutics by 5.8% during the 4th quarter. Janus Henderson Group PLC now owns 2,830,544 shares of the company’s stock valued at $40,859,000 after acquiring an additional 155,259 shares during the period. Wellington Management Group LLP raised its holdings in CARGO Therapeutics by 7.2% during the 4th quarter. Wellington Management Group LLP now owns 2,190,811 shares of the company’s stock valued at $31,591,000 after acquiring an additional 148,088 shares during the period. Red Tree Management LLC bought a new stake in CARGO Therapeutics during the 4th quarter valued at $30,293,000. Finally, Vanguard Group Inc. raised its holdings in CARGO Therapeutics by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 2,084,515 shares of the company’s stock valued at $30,059,000 after acquiring an additional 22,286 shares during the period. Institutional investors own 93.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CRGX. Piper Sandler cut shares of CARGO Therapeutics from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $34.00 to $4.00 in a report on Thursday, January 30th. William Blair cut shares of CARGO Therapeutics from an “outperform” rating to a “market perform” rating in a report on Thursday, January 30th. Truist Financial cut shares of CARGO Therapeutics from a “buy” rating to a “hold” rating and decreased their price target for the stock from $32.00 to $7.00 in a report on Thursday, January 30th. JPMorgan Chase & Co. cut shares of CARGO Therapeutics from an “overweight” rating to an “underweight” rating in a report on Thursday, January 30th. Finally, Chardan Capital cut shares of CARGO Therapeutics from a “buy” rating to a “neutral” rating in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $15.00.

CARGO Therapeutics Stock Performance

Shares of NASDAQ:CRGX opened at $3.99 on Friday. CARGO Therapeutics, Inc. has a 52-week low of $3.00 and a 52-week high of $25.45. The firm has a fifty day moving average of $4.22 and a 200 day moving average of $9.57. The firm has a market capitalization of $183.98 million, a PE ratio of -0.94 and a beta of 0.47.

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.