Analysts Set CARGO Therapeutics, Inc. (NASDAQ:CRGX) Target Price at $31.80

CARGO Therapeutics, Inc. (NASDAQ:CRGX - Get Free Report) has received an average rating of "Buy" from the six research firms that are presently covering the stock, MarketBeat reports. Six analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $31.80.

A number of research analysts have issued reports on the stock. HC Wainwright restated a "buy" rating and issued a $33.00 target price on shares of CARGO Therapeutics in a report on Friday, November 15th. William Blair began coverage on shares of CARGO Therapeutics in a research note on Tuesday, November 26th. They set an "outperform" rating on the stock. Finally, Chardan Capital restated a "buy" rating and set a $28.00 target price on shares of CARGO Therapeutics in a research report on Wednesday, November 13th.

Institutional Trading of CARGO Therapeutics

Several institutional investors have recently made changes to their positions in CRGX. BNP Paribas Financial Markets increased its position in shares of CARGO Therapeutics by 437.8% in the third quarter. BNP Paribas Financial Markets now owns 11,438 shares of the company's stock worth $211,000 after acquiring an additional 9,311 shares in the last quarter. SG Americas Securities LLC purchased a new position in CARGO Therapeutics in the third quarter valued at about $234,000. JPMorgan Chase & Co. lifted its stake in shares of CARGO Therapeutics by 74.9% during the third quarter. JPMorgan Chase & Co. now owns 15,007 shares of the company's stock worth $277,000 after purchasing an additional 6,426 shares in the last quarter. MetLife Investment Management LLC boosted its position in shares of CARGO Therapeutics by 59.3% in the third quarter. MetLife Investment Management LLC now owns 19,833 shares of the company's stock worth $366,000 after buying an additional 7,380 shares during the period. Finally, Rhumbline Advisers grew its stake in shares of CARGO Therapeutics by 14.0% in the second quarter. Rhumbline Advisers now owns 30,639 shares of the company's stock valued at $503,000 after buying an additional 3,765 shares in the last quarter. 93.16% of the stock is owned by hedge funds and other institutional investors.

CARGO Therapeutics Stock Performance

NASDAQ CRGX traded down $0.38 during trading hours on Monday, reaching $13.76. The company's stock had a trading volume of 134,412 shares, compared to its average volume of 259,191. The company's 50-day moving average is $17.65 and its two-hundred day moving average is $17.81. CARGO Therapeutics has a fifty-two week low of $12.17 and a fifty-two week high of $33.92. The stock has a market cap of $633.35 million and a PE ratio of -3.23.

CARGO Therapeutics (NASDAQ:CRGX - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.88) EPS for the quarter, beating the consensus estimate of ($1.14) by $0.26. Equities analysts expect that CARGO Therapeutics will post -3.73 earnings per share for the current fiscal year.

CARGO Therapeutics Company 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.