CARGO Therapeutics, Inc. $CRGX Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC trimmed its holdings in CARGO Therapeutics, Inc. (NASDAQ:CRGX) by 25.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,072 shares of the company’s stock after selling 5,967 shares during the period. MetLife Investment Management LLC’s holdings in CARGO Therapeutics were worth $69,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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 worth $214,000 after buying an additional 3,570 shares during the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in CARGO Therapeutics by 22.0% in the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 26,899 shares of the company’s stock worth $388,000 after buying an additional 4,851 shares during the last quarter. Rafferty Asset Management LLC boosted its stake in CARGO Therapeutics by 18.7% in the 4th quarter. Rafferty Asset Management LLC now owns 32,812 shares of the company’s stock worth $473,000 after buying an additional 5,161 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in CARGO Therapeutics by 7.8% in the 1st quarter. Bank of New York Mellon Corp now owns 95,529 shares of the company’s stock worth $389,000 after buying an additional 6,893 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in CARGO Therapeutics by 3.1% in the 4th quarter. Northern Trust Corp now owns 307,543 shares of the company’s stock worth $4,435,000 after buying an additional 9,278 shares during the last quarter. 93.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on CRGX shares. Wall Street Zen raised CARGO Therapeutics to a “sell” rating in a research note on Friday, August 22nd. Jefferies Financial Group raised their price objective on CARGO Therapeutics from $3.70 to $5.00 and gave the stock a “hold” rating in a report on Tuesday, July 8th. Six analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, CARGO Therapeutics presently has an average rating of “Reduce” and an average price target of $15.40.

CARGO Therapeutics Stock Performance

Shares of NASDAQ:CRGX opened at $4.47 on Thursday. The company has a market cap of $216.17 million, a P/E ratio of -0.96 and a beta of 0.30. CARGO Therapeutics, Inc. has a one year low of $3.00 and a one year high of $25.45. The business’s 50-day simple moving average is $4.50 and its 200 day simple moving average is $4.30.

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.