CARGO Therapeutics, Inc. (NASDAQ:CRGX) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in CARGO Therapeutics, Inc. (NASDAQ:CRGX) by 13.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,262 shares of the company’s stock after selling 1,772 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in CARGO Therapeutics were worth $208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. MetLife Investment Management LLC increased its position in CARGO Therapeutics by 59.3% during the third quarter. MetLife Investment Management LLC now owns 19,833 shares of the company’s stock worth $366,000 after purchasing an additional 7,380 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of CARGO Therapeutics by 437.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,438 shares of the company’s stock valued at $211,000 after buying an additional 9,311 shares during the period. FMR LLC grew its position in CARGO Therapeutics by 1.1% in the third quarter. FMR LLC now owns 6,954,476 shares of the company’s stock worth $128,310,000 after acquiring an additional 77,508 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of CARGO Therapeutics by 87.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 295,960 shares of the company’s stock valued at $5,460,000 after purchasing an additional 138,261 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of CARGO Therapeutics during the 3rd quarter worth $234,000. Institutional investors and hedge funds own 93.16% of the company’s stock.

Analyst Upgrades and Downgrades

CRGX has been the topic of several research analyst reports. HC Wainwright restated a “buy” rating and issued a $33.00 price objective on shares of CARGO Therapeutics in a report on Friday, November 15th. Chardan Capital reissued a “buy” rating and issued a $28.00 price target on shares of CARGO Therapeutics in a research note on Wednesday, November 13th. Finally, William Blair assumed coverage on shares of CARGO Therapeutics in a research report on Tuesday, November 26th. They set an “outperform” rating for the company. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, CARGO Therapeutics has an average rating of “Buy” and an average price target of $31.80.

CARGO Therapeutics Stock Performance

Shares of CRGX stock opened at $14.90 on Friday. CARGO Therapeutics, Inc. has a fifty-two week low of $12.17 and a fifty-two week high of $33.92. The company has a 50 day moving average price of $18.52 and a 200 day moving average price of $17.94. The stock has a market capitalization of $685.82 million and a P/E ratio of -3.50.

CARGO Therapeutics (NASDAQ:CRGX) last released its earnings results on Tuesday, November 12th. The company reported ($0.88) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.14) by $0.26. On average, research analysts forecast that CARGO Therapeutics, Inc. will post -3.73 EPS for the current fiscal year.

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.