Deutsche Bank AG Cuts Stock Position in CARGO Therapeutics, Inc. $CRGX

Deutsche Bank AG cut its holdings in shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX) by 29.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,863 shares of the company’s stock after selling 14,424 shares during the quarter. Deutsche Bank AG owned approximately 0.08% of CARGO Therapeutics worth $142,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Millennium Management LLC bought a new position in CARGO Therapeutics during the fourth quarter valued at about $1,389,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in CARGO Therapeutics by 31.7% in the fourth 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 last quarter. Barclays PLC grew its position in shares of CARGO Therapeutics by 14.3% during the 4th quarter. Barclays PLC now owns 64,436 shares of the company’s stock valued at $929,000 after acquiring an additional 8,082 shares during the period. MetLife Investment Management LLC increased its stake in shares of CARGO Therapeutics by 16.2% during the 4th 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 last quarter. Finally, ProShare Advisors LLC purchased a new stake in shares of CARGO Therapeutics during the 4th quarter worth approximately $171,000. 93.16% of the stock is currently owned by institutional investors.

CARGO Therapeutics Price Performance

Shares of CRGX stock opened at $4.47 on Monday. 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’s fifty day simple moving average is $4.45 and its two-hundred day simple moving average is $4.27. CARGO Therapeutics, Inc. has a 1 year low of $3.00 and a 1 year high of $25.45.

Analysts Set New Price Targets

Several equities analysts recently commented on CRGX shares. Jefferies Financial Group upped their price objective on CARGO Therapeutics from $3.70 to $5.00 and gave the company a “hold” rating in a research note on Tuesday, July 8th. Wall Street Zen raised CARGO Therapeutics to a “sell” rating in a research report on Friday, August 22nd. Six equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average 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.