Janus Henderson Group PLC Increases Position in CARGO Therapeutics, Inc. (NASDAQ:CRGX)

Janus Henderson Group PLC lifted its position in CARGO Therapeutics, Inc. (NASDAQ:CRGX) by 5.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,830,544 shares of the company’s stock after purchasing an additional 155,259 shares during the period. Janus Henderson Group PLC owned about 0.06% of CARGO Therapeutics worth $40,859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brooklyn Investment Group purchased a new stake in shares of CARGO Therapeutics in the fourth quarter worth $27,000. Tower Research Capital LLC TRC increased its stake in shares of CARGO Therapeutics by 565.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,800 shares of the company’s stock worth $84,000 after purchasing an additional 4,929 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in shares of CARGO Therapeutics in the fourth quarter worth $141,000. Invesco Ltd. purchased a new stake in shares of CARGO Therapeutics in the fourth quarter worth $165,000. Finally, Intech Investment Management LLC purchased a new stake in shares of CARGO Therapeutics in the fourth quarter worth $181,000. 93.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CRGX has been the subject of a number of analyst reports. Chardan Capital cut shares of CARGO Therapeutics from a “buy” rating to a “neutral” rating in a research note on Thursday, January 30th. William Blair lowered shares of CARGO Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 30th. Piper Sandler lowered shares of CARGO Therapeutics from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $34.00 to $4.00 in a research report on Thursday, January 30th. JPMorgan Chase & Co. lowered shares of CARGO Therapeutics from an “overweight” rating to an “underweight” rating in a research report on Thursday, January 30th. Finally, Truist Financial lowered shares of 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 investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat.com, CARGO Therapeutics has an average rating of “Hold” and a consensus target price of $15.00.

CARGO Therapeutics Stock Down 3.3%

Shares of NASDAQ:CRGX opened at $3.84 on Thursday. CARGO Therapeutics, Inc. has a 52 week low of $3.00 and a 52 week high of $25.45. The stock has a market capitalization of $177.06 million, a P/E ratio of -0.90 and a beta of 0.47. The firm has a fifty day simple moving average of $4.22 and a two-hundred day simple moving average of $9.69.

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.